Monday, June 03, 2013

DC bemoans inadequacy of banks in Siavonga
By Henry Sinyangwe
Mon 27 May 2013, 14:00 CAT

THE inadequacy of banking facilities in Siavonga is hampering access to financial services, says district commissioner Brave Mweetwa.
And Mweetwa says Siavonga will soon have a modern shopping mall expected to house various business houses.

In an interview, Mweetwa said Siavonga district only had one bank - Zanaco Plc - despite the area being one of the major tourist destinations in the country.

He said Zanaco was always congested owing to inadequate banking facilities in the district.

Mweetwa urged banks to establish branches in the area as it was growing at a fast rate in various sectors of the economy.

"A number of investors have shown interest to come and build shopping malls. We need one modern shopping mall that is going to house a number of business houses. Siavonga has the potential to develop into a major tourism destination, and in terms of scenery it is no match to most of Zambia's towns," he said.

Mweetwa said the district also lacked a proper fuel service station.
And Mweetwa said Lake Kariba presents the district with opportunities to grow its aquaculture and tourism industries.

"We have a challenge as a district as we do not receive enough rainfall, so we want to concentrate more on using the God given resource like the water that we have. We are happy that a number of companies like Lake Harvest from Zimbabwe and Yalelo Investments are already on board in developing the aquaculture industry," said Mweetwa.

Yalelo Investments, a Zambian firm being run by former Lusaka mayor Fisho Mwale, has invested US $2.5 million in a fish growing project in Siavonga that is expected to create over 200 jobs for the locals.

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