By Isaac Salima:
FDH Bank plc on Wednesday launched its Nkhokwe Savings Account to assist village savings and loan groups to save and keep money in a secure way.
Speaking during the launch, FDH Bank Head of Personal and Business Banking Kawawa Nsapatao said the initiative would help develop the groups.
“These platforms have been a source of joy for others while also being a source of discouragement to many due to some members’ dishonesty, thereby robing the members off their hard-earned funds,” Nsapato said.
He said the bank has added digital solutions to the account to offer members an opportunity to transact anytime and in a convenient way.
“We know village groups that are in our catchment area and we will collaborate with them but this account is open to all the village groups,” he said.
Nsapato said the village banks that would be saving with them would be getting a five percent interests.