NATSAVE asserts role in business ecosystem

BUUMBA CHIMBULU writes THE National Savings and Credit Bank (NATSAVE) will continue to play its role in the business ecosystem of the Zambian economy by empowering local initiatives and creating partnerships meant to unlock economic potential. NATSAVE Board Chairman, George Mwambazi, said the Bank was coming in as an enabler to contribute to the realisation of ensuring the availability of local empowerment initiatives. Mr Mwambazi was speaking yesterday in Lusaka when NATSAVE signed a Memorandum of Understanding (MoU) with Kalumbila Co-operatives to ensure availability of funds for members. “We are glad to mention that the Bank has scored milestones in the area of strategic partnerships in the last few years and we believe they are an engine of inclusive growth. “We envisage exponential growth through these partnerships hence the need for us to step up and play our part as a financial service provider,” Mr Mwambazi said. He also indicated that the cooperative model has shown relatively strong resilience during recent financial and economic crisis. Mr Mwambazi explained that the model had increased considerably throughout the world in recent years. Cooperatives, Mr Mwambazi said, were mechanisms that ensured the growth and prosperity of communities. “We are aware that in developing and transitioning countries like ours that have limited access to capital, education and training, cooperative structures allow communities to pool together their resources to solve problems,” he said. Mr Mwambazi stressed that cooperative enterprises serves as a beacon of continuous business performance and growth, particularly in recent turbulent times such as the Covid-19 era. Kalumbila Cooperative Chairman General, Chilekwa Mambwe, challenged youths to assist in fighting for economic freedom. Mr Mambwe stressed the need for young people to be proactive and not only complain about economic issues. He said the Kalumbila cooperative, which was a group of young people, would strive to make use of the partnership with NATSAVE. “We are happy that we are dealing with a local bank. The Zambian economy is about to be liberates through this MoU,” Mr Mambwe said. Kalumbila Cooperative Patron, Lastone Lupupa, emphasised the need for the liberalisation of the Zambian economy. Father Lupupa also stressed that cooperative played a critical role in economic development of any country. The Sun