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Finance
tomers. Standard Chartered’s retail banking of-
fers a wide range of personal banking products
and services including; SME banking, transac-
tional current accounts, savings accounts, VISA
Electron debit cards, personal loans, mobile banking
and wealth management products. They stand out
as leaders in the market through their countrywide
branch network, expert driven banking, financial ad-
vice, cash management solutions and world-class
trade services.
Their corporate banking services offer corporate
and institutional clients flexible financial services to
meet their needs. These services include foreign
exchange management, cash management, online
banking, trade services, Premium Service banking,
Global Project Plus and one-stop banking solutions.
These services encompass the full spectrum of re-
quired products available to donor agencies and
suppliers throughout Standard Chartered’s global
network. The bank also provides quality advice and
information on currencies, interest rates and risk
management to customers.
Standard Chartered Bank Zambia maintains a large
focus on product innovation and sustainable growth.
In 2009 Standard Chartered was one of the most
profitable banks in the market. They introduced
many new products including mobile and Internet
banking. These two developments have allowed
Standard Chartered to reach more clients, especially
the largely un-banked community in Zambia. An ad-
ditional new product they launched in 2009 is called
the ‘Educare Plan’. This is an insurance product de-
signed to cater for children’s education for the future.
The Bank stands out as the longest running bank op-
erating in Zambia. Their new brand Here For Good’
offers a promise to the Zambian people that they
have been, and always will be a pillar in the Zambian
Financial sector.
Global Finance has recognized Standard Chartered
Bank Zambia as the “The Best Bank in Zambia” over
the past few years.
“I am most proud of the Standard Chartered brand
in its capacity to make a difference for our custom-
ers, our communities and our staff. This is why we
have our new brand promise ‘Here For Good’. We
are here for the long run, we are here for progress,
we are here for our people and we are not going
anywhere.”
Mizinga Melu
CEO & Managing Director
ZANACO - ZAMBIA NATIONAL
COMMERCIAL BANK
Mark Wiessing
Managing Director
Zimco House, Cairo Rd.
PO Box 33611 Lusaka
Tel: +260-211-221358/ 221360/
38881 / 221584 / 229592/ 221358 /
224005
Fax: +260-211-223082 / 224006
customerservice@zanaco.co.zm
lumbweb@zanaco.co.zm
www.zanaco.co.zm
Zanaco was established by the Zambian Govern-
ment in 1969 to foster national development and has
over the years been instrumental to the country’s
progress through various achievements. They have
historically been involved in the financing of develop-
ment projects in all sectors of the Zambia economy,
provision of affordable banking services to the Zam-
bian people and infrastructure development in the
un-banked rural and urban areas. The underlying
mission of Zanaco is to be the ‘Peoples Bank’, by
ensuring that the Zambian population has access to
banking services.
Over the years, Zanaco has grown to become one
of Zambia’s leading banks in terms of customer de-
posits, total assets and branch network. In 2007,
Zanaco was partially privatized when Rabobank of
the Netherlands acquired 49% of the Government’s
interest in the bank. This privatization represented a
repositioning on the market in terms of the products
that they offer and the quality of the service delivery.
In 2008, Zanaco was listed on the Lusaka Stock
Exchange. Rabobank currently holds a 46% stake
in the company while the government holds a 25%
stake, and the Zambian public hold a 29% interest in
the bank. Therefore, as the bank is more than 50%
owned by Zambians, it is considered to be ‘Citizen
Owned’.
According to the Bank of Zambia, Zanaco was the
most profitable commercial bank in Zambia in 2009.
As of 2010, Zanaco stands as the market leader
with about a 20% market share and a capital of
over K300 billion ($60 million USD). Zanaco has 56
fully functional branches, spread across the entire
country. In addition, Zanaco has partnered with the
Zambian Post-office known as Zampost to allow Za-
naco customers to deposit and withdraw funds from
their accounts at Zampost outlets distributed all over
Zambia, in both rural and urban areas.