90
Finance
assets and about 16 percent of commercial banking
deposits in the country in 2012. At that time, Barclays
Bank of Zambia was one of the largest private banks
in Zambia, by assets. The institution serves the bank-
ing needs of large and small business customers as
well as individuals, employing over 1,100 people in
Zambia. The bank has the widest network of Point of
Sale terminals, which facilitate the use of debit and
credit card transactions in Zambia. The bank has also
invested in state of the art electronic banking and mo-
bile banking platforms for its customers.
Barclays has operated in Zambia for close to 100
years and is now one of the country’s foremost finan-
cial institutions in terms of financial strength, product
offering & service capability. The bank is currently
represented by 70 offices Msw up of full branches
and sales centers throughout the country and is con-
tinuing to expand.
Cav
mont Bank
Charles H. de B Carey
Chief Executive Officer
2734 Thabo Mbeki Road
P.O. Box 10101, Lusaka
Tel: + 260 211 360 023
Fax: + 260 211 258 089
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The bank provides personalized corporate, retail,
SME, and community banking services, and its em-
phasis is on convenience and simplicity. Application
processes are personally discussed with clients and
dealt with in an efficient manner. Cavmont has a track
record of initiating small and medium enterprises in
Zambia using venture capital funds. Its expertise in
managing portfolio investment funds has covered the
full breadth of economic development in Zambia in-
cluding projects in agro-processing, internet service
providers, tourism, and mine suppliers.
Cavmont Bank Limited is a Registered Commercial
Bank in Zambia with 244 employees. The bank was
established on 1 January 2004, following a merger
between Cavmont Merchant Bank Ltd., (Inc. October
1992) and New Capital Bank Plc. (Inc. June 1992).
Due to the recent Bank of Zambia capitalization
requirements for local Banks and foreign Banks,
Cavmont Bank Limited shareholders support a capi-
tal plan for a local bank. It is in light of this that the
holding company has warehoused 51 percent shares
in Makumbi Investments Limited a special purpose
vehicle earmarked for forward offer to local investors.
This will ensure that Cavmont Bank not only meets
the capital requirements by the 18-month BOZ given
deadline, but also meets the equity shareholding for
a local bank.
Within its current projects, the bank is developing
new products for children, civil servants, and mar-
keters. It is also increasing its presence on social
media.
Ecobank
Zambia
Jolone Okorodudu
Managing Director
Thabo Mbeki Road
P.O. Box 30705, Lusaka
Tel: +260 211 250 056
Fax: +260 211 250 171
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ity: F
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B
ank
ing
Ecobank is a pan-African banking conglomerate,
with banking operations in 36 African countries. It
is the leading independent regional banking group
in west Africa and central Africa, serving wholesale
and retail customers. It also maintains subsidiaries
in Eastern Africa as well as in southern Africa. It
has representative offices in Angola, China, Dubai,
France, South Africa, and in the United Kingdom.
Through its two customer-centric business seg-
ments, Domestic Bank, Corporate and Investment
Bank, Ecobank provides a full range of retail, whole-
sale, investment, and transactional banking ser-
vices.
With its corporate and investment bank come fi-
nancial solutions to global, regional and public
corporates, financial institutions, and international
organizations such as pan-African lending, trade
services, cash management, internet banking, and
value-chain finance. It also provides treasury, cor-
porate finance, investment banking, and securities
plus asset management services.
Through its domestic bank, Ecobank Zambia pro-
vides a full range of convenient, accessible, and
reliable financial products and services to individu-
als, small businesses, local corporates, and public
