) was enacted in 2007. the npsa empowered the bank of zambia to develop and implement the national payment systems policy so as to promote the efficiency, stability and safety of the zambian financial system. the bank of zambia thus designates players wishing to provide payment services such as money transfer services, mobile banking and other payment services. this process has strengthened the capacity of the boz to monitor transactions and to ensure that only safe and efficient institutions are allowed to provide payment services. distinguished guests, allow me to conclude by congratulating ecobank zambia limited for the innovative products that we are launching today. we hope that our people can send and receive money conveniently, safely, and at a reasonable cost. i also wish to call upon all banks and financial institutions to emulate ecobank by introducing such products which contribute to increasing access to banking services for the zambian people. the opportunity, primarily for banks and other financial institutions, is to find ways to leverage zambians in the diaspora to use remittance services that will both be profitable for the banks and will also provide them and their families with greater financial access. i thank you for your attention.

caleb m fundanga : increasing access to financial services in zambia remarks by dr caleb m fundanga, governor of the bank of zambia, at the official opening of national savings and credit bank, lukulu branch, lusaka, 27 may 2009. * * * the guest of honour ; the honourable minister of finance and national planning ; dr. situmbeko musokotwane, mp the honourable minister for western province ; the deputy permanent secretary for western province ; the honourable members of parliament for lukulu east and west ; the acting ngambela imbua imwaka representing the barotse royal establishment ; the district commissioners for lukulu and kaoma ; the board and management of national savings and credit bank ; distinguished invited guests ; ladies and gentlemen. 1. on behalf of the bank of zambia governor, i would like to thank the board of directors and management of national savings and credit bank for inviting us to the occasion of the opening of another rural branch in zambia, this time in lukulu. 2. national savings and credit bank ( also commonly referred to as natsave ) was established on 1 april 1972 by the national savings and credit bank act of 1972 and it commenced business operations in march 1973. the amendments to the banking and financial services act of 2000 extended the supervisory authority of the bank of zambia to natsave which was until then, supervised by the ministry of finance and national planning ( mofnp ). 3. natsave was set up to administer savings and to provide credit facilities in urban, periurban and rural areas to individuals and small business enterprises. its business strategy is to target the low and medium income earners through the establishment of a sustainable network of outlets and by offering sustainable financial services. the bank has continued to be a leading public vehicle in ensuring financial inclusion to all citizens across the country through the vast branch network. currently, natsave has 27 branches ( including lukulu branch ), spread across the country. 4. honourable ministers and distinguished invited guests, a key element in the strategy of poverty reduction is the provision of financial services to the majority of our people, the small and micro enterprises who have traditionally been neglected by the formal banking sector. natsave ’ s expansion program therefore has the potential to improve access to financial services and enhance competition in the financial sector. this improves financial services delivery to the zambian people and brings more of the financially excluded population to the financial institutions. the bank