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114
Finance
NATIONALSAVINGANDCREDITBANK (NSCB)
Leonard Mwanza
Managing Director
Plot 248B Cairo Rd. PO Box 30067 Lusaka
Tel: +260-211-227534 / Fax: +260-211-223296
mwanzal@natsave.com
National Savings and Credit Bank, NSCB, is a Gov-
ernment owned financial institution and Zambia’s
oldest bank, established in 1972. The bank was cre-
ated to mobilize savings, especially in rural areas.
The bank’s efforts are focused on low and medium
incomes. Initially the bank operated through the post
office network countrywide. In 1992, the bank decided
to establish its own branch network. In 2010, this net-
work summed up to 27 branches all over the country
and aims to expand and be present in every district.
NSCB’s main focus is to develop micro-credit op-
erations in outlying areas through community based
products. This unique feature was created to empow-
er the people to take control of their financial activities.
NSCB provides its clients with a wide range of ser-
vices, which include: Savings accounts with low or
no minimum balance required, Loans for Small Me-
dium Enterprises (SMEs) and individuals, Salary ad-
vances, Payroll Management, especially to the Gov-
ernment, Making payments on behalf of institutions
and Collection of funds on behalf of other institutions
e.g. governments.
The Bank has developed an Institutional Develop-
ment Plan (IDP), which spells out the future of the
institution. It talks about the recapitalization of the
bank and major activities will involve computeriza-
tion, branch expansion, staff training and infrastruc-
ture as well as transportation system development.
The IDP’s main focus is on rural finance and wealth
creation.
NSCB has played, and will continue to play a large
role in the economic development of Zambia.
“Our bank works not only to make a profit and to in-
crease our balance sheet but also to ensure that the
financial mindset of the Zambian people is well edu-
cated. We play a critical role in helping Zambians’
understand banking and plan for the future.”
Leonard Mwanza, Managing Director