Ganizo Magazine | August 2020 | Community Banks
- Written by Cabanga Magazines
- Published in Magazines
Zambia needs more Banks. There can never be a talk about black wealth or black economic freedom without black capital being strong enough to back that freedom. In Zambia, the Ministry of Commerce, Trade and Industry has a department of Cooperatives, that promotes the founding and running of "Saving and Credit Co-Operative Societies" in Zambia.
In South Africa, there are two banks that I am participating in their foundations, as a customer and a strategist, and these banks are for different customer profiles – low- and high-end customers. The amazing thing about the South African market is that, even though there are strong banks with great products, there is still ample space for new entrants to niche their way through to profitability within the first trading year, and retain a sizable asset base to do more.
Download the August 2020 issue of Ganizo Magazine below.