Maravi

CCC to set up bank

CCC to set up bank
By Fridah Zinyama
Wednesday April 18, 2007 [04:00]

COMMERCIAL Capital Corporation (CCC) Ltd has said they have plans to open a commercial bank and are at the moment waiting for approval from the Bank of Zambia. And CCC Ltd has been awarded a franchise to open up a money transfer service in the lines of Western Union, SwiftCash and Moneygram and will be called Cash4Africa (C4A).

CCC Ltd is a subsidiary of Union Leasing, which is formerly Union Bank that was liquidated by Bank of Zambia and later sold to a CCC consortium owned by Zambians.

In an interview, CCC Ltd director of finance & operations David Kambita said CCC Ltd had submitted an application fulfilling all the set requirements to the Central bank and were currently waiting for their approval.

"Negotiations with the Central bank are underway," Kambita said. "On our part, we have met all the requirements needed to open up a bank."

And Kambita said the Franchise to open Cash4Africa, which is found in most African countries, was a way in which the company was planning to diversify the range of products that they offer to their clients.

"We decided to offer this product to our clientele because CCC Ltd wanted to compliment the services which were being offered in the country," he said. "We will be offering quality services to our clients in Zambia because we believe they deserve the best."

Labels: BANKING

posted by MrK @ 8:42 PM