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INVESTRUST invest K70m in upgrade

INVESTRUST Bank PLC has invested over K70 million in upgrading its systems so that it is able to offer efficient and improved services to customers.

Managing Director Siamangolwa Shakalima said the 100 percent locally owned bank has in the last five years heavily invested in its systems so as to offer quality services to customers.

Mr Shakalima was speaking at a customer engagement cocktail at Garden Court Hotel in Kitwe at the weekend.

He said Zambia being an economy that was largely supported by Small and Medium Enterprises (SMEs) the bank improved services to the sector.

He said the bank was committed to supporting SMEs as well as other critical sectors.

“In the last five years we have invested heavily in digital channels and if you look at our investment over K70 million to upgrade our systems including digital platforms, we offer mobile banking and an Investrust application and agency banking system,” he said.

Mr Shakalima said that his institution was also looking at enhancing capital base and with its partnership with ZCCM-IH, the bank was confident to reach higher heights.

At the same function, ZCCM-IH acting Chief Executive Officer Mavuto Chipata said the company has made a commitment to recapitalise the bank in order to address the minimum regulatory capital, liquidity and increase overall business capacity.

Mr Chipata said ZCCM-IH spent K25 million in acquiring shares in the bank, making it the largest shareholder with 71.4 percent.

He said this was part of ZCCM-IH strategy to diversify its portfolio and to tap into new sources of consistent income.

And Copperbelt Minister, Japhen Mwakalombe, said most local entrepreneurs lacked access to financial resources and commended Investrust for supporting and helping SMEs to grow.

Mr Mwakalombe said Investrust did not only support small businesses with bank services, but also technical support needed to grow businesses.

The minister said in today’s world small and medium businesses were seen more as a vehicle for entrepreneurship, contributing to employment opportunities and social stability of the economy.

He further said with over 400 employees in the country Investrust, was making its mark in improving the quality of lives of many people.

Source: Daily Nation

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