By 
Ecobank Zambia Managing Director, Aina Moore, has raised concerns over the country’s low financial literacy levels, which stand at just 23.6 percent according to the latest FinScope survey.
Speaking in Lusaka on Thursday at the signing of a partnership agreement with Prudential Life Assurance Zambia and the launch of a new Bancassurance product, Moore noted that only a quarter of Zambians have a good understanding of financial concepts, including insurance services.
“It is concerning that many people remain unaware or unconvinced of the financial security and peace of mind that insurance can provide in their daily lives,” she said.
Moore said: “I implore everyone to make informed financial decisions that can help protect investments, alleviate financial burdens, and secure our future well-being.”
She described the partnership as a game-changer for the insurance industry, saying Bancassurance services would allow customers to easily access life, investment, and education insurance products.
Moore emphasized that the model enables banks to offer insurance products through their extensive distribution networks, improving accessibility and convenience.
Prudential Life Assurance Zambia Chief Executive Officer, Kachiza Kwenda, echoed this sentiment, highlighting the synergy and convenience the collaboration offers.
“The product portfolio will be investment-based and open to all Ecobank account holders and beyond. This partnership simplifies conventional banking and insurance, making financial services more innovative and accessible,” Kwenda said.
He added that the agreement positions both companies as a one-stop destination for financial needs, fostering customer loyalty and trust.
WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.
English
French
Somali
Swahili
Zulu
Comments