Nchelenge residents bury money

October 10, 2012 | Filed under: Local News | Posted by: web editor

From ALEX NJOVU in Kitwe
A senior government official in Nchelenge has expressed worry that some people in the district have continued to bury their money underground for safe keeping due to lack of banking facilities.
Nchelenge district commissioner Joseph Chisakula said in an interview from Nchelenge yesterday that there is need for more commercial banks to open branches in the district.
Mr Chisakula appealed to all commercial banks in the country to seriously consider opening up branches in Nchelenge.
“What is happening in Nchelenge is worrying, because many of our peasant farmers and fishermen who bury their money underground lose it through fires and theft.
“We need commercial banks and other financial institutions to come and conduct their businesses here. We can’t have a situation where our people bury their money underground for safe keeping,” Mr Chisakula said.
He urged people to make use of banks such as the National Savings and Credit Bank and Zanaco, which have branches in the district, and avoid burying their money underground.
Mr Chisakula said there are many business opportunities in Nchelenge which financial institutions can take advantage of and open branches in the district.
“Basically, Nchelenge is an investment destination, people make a lot of money from fishing and farming activities. People have money but they end up digging holes in their homes where they bury millions of Kwacha. This practice must be discouraged, it was practised by our forefathers and not this generation. We don’t want mobile banks, we want permanent banks in Nchelenge,” he said.
He said it is dangerous for people to bury money underground because there are many risks involved.
Mr Chisakula urged managers of various commercial banks in the country to take a survey of Nchelenge for them to appreciate the business opportunities that exist in the district.
He said the inadequate banking facilities in the district deprive local people of the much needed financial services.
“Some of our people cannot access certain services which are offered by financial institutions because we don’t have enough banks here. This is why we are appealing to all commercial banks in the country to open branches in Nchelenge,” Mr Chisakula said.