Personal financial management key to growth – Mulder

By Staff Reporter

ZANACO says personal financial management is one of the key factors in individual and household growth.

Speaking at the financial literacy seminar for media personnel at Hilton Garden Hotel in Lusaka yesterday, Zanaco Bank managing director Henk Mulder said the programme was designed to share value by profiling and driving financial literacy in the workplace, in this case focusing on media workplaces.

“Our goal is to help improve knowledge, skills and confidence around money to better manage debt, save, invest and plan for retirement,” Mulder said.

“Personal financial management is one of the key factors in individual and household growth. However, most individuals may not have had the privilege to learn how to manage their finances as young people. Some learn through trial and error after getting their salaries.”

He noted that the seminar provided the beginning of “this journey that we want to walk with you as individual media personnel and your institutions in providing financial education through education through various fora in the year.”

“I have no doubt that we can transform our institutions to greatness by outstanding and unique use of resources at our disposal. Zanaco is proud to provide innovative and affordable banking solutions tailored to meet your unique needs in meeting your financial goals,” he explained.

And Mulder pointed out that Zanaco bank has existed for 50 years and that it would still be in existence for the next 50 years.

“The foreign banks say ‘we are here to say’ I can tell you one secret; we’ll definitely be here because we nowhere to go because Zambia is our home. Zanaco is a Zambian bank and it’s for all Zambians. It’s a universal bank; it’s for the lowest income person and for the highest income person, it’s for the smallest company and for the biggest company, it’s also for the government entities and so on and so forth,” said Mulder.

“So, we are a typical universal bank. Within that we have a very high responsibility on financial literacy. We have to make sure that all the different client segments understand the financial markets.”