AB Bank Zambia (ABZ) opened its doors in October 2011 and is the seventh member of the AccessBank network. It was founded by AccessHolding in collaboration with four of its longstanding partners: KfW Development Bank, the International Finance Corporation, the Dutch development finance institution FMO, and the Belgium-based Impulse Microfinance Fund. The Bank has been set up and is being managed by LFS under a management services contract.
ABZ aims to evolve into one of the leading providers of financial services to this target group in Zambia and to set industry standards in terms of the speed, ease and quality of MSME banking. ABZ’s branch network is currently limited to Lusaka but the bank plans to expand to other regions in the coming years. It has had a good start of operations.
ABZ offers a range of loan and deposit products focusing on the core clientele of micro, small and medium-sized enterprises as well as the general lower-/middle income groups of the country. Banking services include term deposit, saving and current accounts as well as a saving plan and payment services such as a salary project, mobile payment and money transfer systems.