Finance Bank Zambia is all set to open its first branch in the capital city of Malawi, Lilongwe. The news came from the Finance Bank Zambia Chairman, Rajan Mahtani who previously confirmed that Finance Bank of Zambia was successfully listed on the Lusaka Stock Exchange. The operation of Finance Bank is likely to begin from December 15, 2014, in Lilongwe, Malawi.
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The news came shortly after Mahtani mourned the loss of former President of Zambia, Michael Sata. The Finance Bank of Zambia can be considered as the apex bank that funds most of the development projects in Zambia. Over the years, this bank has been the key towards bringing about positive results through development of Portland Cement Factory Zambia, Ndola Housing Project and other educational programs. As per the confirmation given by Rajan Mahtani, the Finance Bank will operate in Malawi from 15th December is will begin its objective of bring about a positive development results.
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The FBZ is also expected to get enlisted in the London Stock Exchange’s Alternative Investment Market (AIM), however, there is no confirmation on such till the present date. The first quarter of 2015 will hold immense value for Mahtani Group of Companies as it will be a test for them in Malawi and the Lusaka Stock Exchange. On one hand where Malawi will witness the arrival of a new bank, on the other hand, The Lusaka Stock Exchange will see FBZ trading with 25% of its shares. The estimated target for the shares is to raise USD $250 million. It will also be interesting to find how the group of conspirators will react to this news as they don’t have any visible area to exploit and exaggerate.