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EMBRACE CULTURE OF SAVINGS, ZAMBIANS URGED

By BUUMBA CHIMBULU                                            

ZAMBIANS should enhance their participation in economic activities while improving their culture of savings to honour the late Dr Kenneth Kaunda who created institutions such as NASATVE to drive financial inclusion across the country.

Institutions such as NATSAVE were created in 1972 by Dr Kaunda and his team to mobilise savings to help in the economic activities of the country.

This is according to Malcom Chabala who is NATSAVE Chief Executive Officer. Mr Chabala emphasised that the late president and his team were very strong about Zambians participating in the economy.

“NATSAVE was create specifically to drive the culture of savings in the country and to mobilise savings. So this was all in a quest to increase citizen participation in the economy,” he said this after signing a book of condolences for the late president in Lusaka this week. Dr Kaunda, he said, was a pioneer of the whole concept of savings in Zambia.

Mr Chabala therefore encouraged citizens to honour Dr Kaunda by building up their savings and making a reality the objectives that were set out for creating NATSAVE. He explained that creating NATSAVE helped to drive financial inclusion and making sure that people understood the benefits of savings.

“The history of NATSAVE cannot be written without mentioning Dr Kaunda and his cabinet. Dr Kaunda and his team decided to create NATSAVE through an act of parliament in 1972.

“So this was one among a number of organisations that were created specifically to drives and spur economic development and to accelerate economic development,” he stated.

NATSAVE, Mr Chabala said, had continued to live values set out in the objectives as the bank was present in all the 10 provinces of the country as well as in rural areas.

“Personally I have been privileged to save in an institutions that is rich in history that speaks to what the thinking was at the team of KK and his team. S we honour him we can move to NATSAVE and other like institutions to look at the legacy that he is leaving behind,” he said.

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