Zambia Industrial Commercial Bank (ZICB) Limited Chief Executive Officer (CEO) Ignatius Mwanza (right) and Mastercard President for Middle East and Africa Raghu Malhotra

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ZICB Launches Suite of Mastercard Digital Solutions To Boost Business Growth in Zambia  

Lusaka, Zambia – 4 November 2019: Zambia Industrial Commercial Bank Limited (ZICB) today announced a partnership with global payments technology company Mastercard to issue Mastercard prepaid and debit business cards, providing its business customers with a safer and more convenient alternative to transacting with cash. 

This is the first time a Zambian bank will issue Mastercard business cards, which enable companies to streamline their purchasing processes, set spending limits and track expenditure when employees travel. Featuring the latest EMV contactless payment technology, the cards will also provide ZICB customers with a convenient, globally accepted payment solution with the highest security protection.

ZICB’s Chief Executive Officer, Ignatius Mwanza said: “We are excited to partner with Mastercard as we implement our agenda to become a leading digital bank that contributes to Zambia’s economic development. Driving the growth of our SME and corporate customers through innovative and convenient payment solutions such as these is how we create a better tomorrow for Zambia.”

The debit and prepaid cards are designed with accessibility in mind, offering safer, faster and more efficient ways for people and businesses to manage their finances, while reducing their exposure to the safety risks and high transactional costs of handling cash.

ZICB customers will be able to withdraw money from Mastercard-licensed ATMs and pay for goods and services at millions of merchants both in Zambia and in more than 210 countries and territories worldwide.

 “Zambia is an important market for Mastercard and we are pleased to partner with ZICB to bring new solutions that will help businesses and entrepreneurs better manage their finances,” says Mark Elliott, division president of Mastercard, Southern Africa.  “These products will help to solve pain points for businesses of all sizes and industries – whether it’s a farmer needing to pay for supplies more expediently, a government agency seeking to manage social payments more efficiently or a large corporate trying to better track their employees travel and entertainment expenditure across several countries.”

 To apply for ZICB Mastercard business card, customers can visit their nearest ZICB branch.


 About ZICB

Zambia Industrial Commercial Bank Limited (ZICB) was incorporated on the 31st of August 2017. The Bank was created with a vision to foster economic development with a focus on industrialisation and commercialisation. ZICB has been positioned to grow into a major player in the Zambian banking sector and is currently growing its capabilities through implementation of a modern Core Banking System on the back of which it is set to provide robust products and services in line with current banking technology, including Digital Banking services. ZICB currently has 2 branches – one in Lusaka and the other in Kitwe. The Bank has plans to spread to other areas of the country in due course.

 About Mastercard

Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry.  Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories.  Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.  Follow us on Twitter @MastercardMEA and @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the MEA Engagement Bureau.

 Media contacts

ZICB: Luke Njovu, Luke.Njovu@zicb.co.zm, +260 211 233 707, Ext : 2008

Mastercard: Birgit Deibele, birgit.deibele@mastercard.com, +27 (0) 71 464 0983 

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