On September 1st, 2023, LOLC Finance Zambia proudly marks a significant milestone – our 5th-year anniversary. As the first financial institution in Africa to be established by LOLC Holdings PLC from Sri Lanka, this journey has been nothing short of extraordinary. We invite you to join us in celebrating this remarkable occasion as we reflect on our journey of growth, resilience, and community impact.
A Journey of Milestones:
Our story began in 2018 when LOLC Finance Zambia Limited was founded. It’s a testament to our commitment to excellence that we managed to commence actual banking operations in December 2020, following the issuance of a Housing Finance license by the Bank of Zambia. This marked the beginning of a transformative journey that continues to flourish.
Expanding Across Borders:
Today, the LOLC Group spans across twenty-five countries in Africa and Asia, a testament to our global presence and commitment to financial empowerment. Our growth knows no bounds, and we are continually expanding to reach new horizons.
From a modest start with just two staff members in 2018, LOLC Finance Zambia Limited has achieved phenomenal growth. This success story unfolds even in the face of the challenging COVID-19 pandemic, which disrupted activities worldwide. We have risen to become one of the premier Deposit taking Non-Bank Financial Institutions in Zambia.
Here are some key highlights from our operations:
- Significant Job Creation: We take pride in contributing to local employment with a staff complement of 100, where 99% are local staff.
- Nationwide Presence: Our operations are spread across 8 Provinces of Zambia, with 12 branches, ensuring we serve communities across the nation.
- Expanding Customer Base: We are privileged to have a customer base exceeding 13,000, each representing a story of financial empowerment.
- Empowering Finance: Our loan book has exceeded ZMW 360 Million, and customer deposits have exceeded ZMW 220 Million, demonstrating the trust our customers place in us.
- Strong Capital Base: We maintain a very strong capital base that well exceeds the minimum regulatory requirements.
LOLC Finance Zambia believes in giving back and making a positive impact in the communities we serve. Some highlights from our community service activities include:
- Supporting Education: We have embarked on a long-term project with Aisha Community School in Lusaka, providing school supplies and contributing to infrastructure development.
- Promoting Environmental Responsibility: We launched a tree-planting campaign, planting 200 trees in 5 schools in Lusaka and Kitwe, under the theme “Promoting a Green Environment.”
- Healthcare Contribution: Our commitment extends to healthcare, where we’ve provided essential medical supplies to the maternity wing of Arthur Wina Memorial Hospital in Nalolo.
As we celebrate five years of growth, success, and community impact, we want to extend our heartfelt gratitude to our valued clients, dedicated staff, and supportive partners who have been instrumental in our journey. Together, we have created a financial institution that empowers dreams and uplifts communities.
Thank you for being part of the LOLC Finance Zambia family. Here’s to the next five years and beyond, filled with innovation, financial empowerment, and a deeper commitment to the communities we serve.
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