Katumbi urges Finance Bank to establish branch in DRC

Katumbi urges Finance Bank to establish branch in DRC
By Gweny Phiri in Kasumbalesa
Tuesday July 01, 2008 [04:00]

DEMOCRATIC Republic of Congo (DRC) Katanga Province Governor Moses Katumbi has urged Finance Bank to extend its operations beyond Zambia and open a branch in that country to boost economic development. And Finance Bank chairperson, Rajan Mahtani has reiterated the bank’s resolve to serve the remotest and previously under-banked rural communities through opening of branches in strategic areas.

During the opening of Finance Bank Kasumbalesa Branch in Chililabombwe last Friday, Katumbi said the DRC’s economy was experiencing tremendous growth hence the need for strong banks.

Katumbi said Katanga Province had recorded increased exports which could further increase if communities accessed competitive banking services from reputable organisations like Finance Bank.

Katumbi hailed the cordial relationship currently existing between Zambia and the DRC saying there was need for cooperation to enhance economic and social development of the two countries.

And Mahtani said the opening of Finance Bank Kasumbalesa Branch was essential in facilitating and formalising trade between Zambia and the DRC and that the bank would consider opening a branch in that country in future.

He said the bank had a strong reputation of strategic bank positioning especially in border towns hence the opening of the first bank at Kasumbalesa border post.
"Our expansion programme has not been purely driven by profit motives but more importantly, to offer a service to the remotest and previously under-banked rural communities. Our Kasumbalesa branch will be pivotal in facilitating and formalising trade between the DRC and Zambia and quash the perception of the existence of an underground economy," he said.

Mahtani also praised the government for the stability, peace and prosperity, which had enabled Finance Bank to partner with Credit Suisse, an international bank of global repute, hence raising its capital portfolio.

Communication and transport minister, Dora Siliya, said there was need to roll the infrastructure development to the rural areas to enhance development.
She said the government wanted to be sure that the Information Communication and Technology (ICTs) were available to more people.

She said the banking infrastructure would also give a critical role in financing.
Siliya said the government would provide land for the people so that they put up a dry port in Kasumbalesa.