By MUKOSELA KASALWE
INVESTRUST Bank recognises entrepreneurship and education as key pillars of nation development, Managing Director Simangolwa Shakalima has said.
For that reason, Mr Shakalima said, Investrust took note of the Copperbelt University (CBU) student ‘Mongu rice’ phenomenon.
He said the 100 percent locally owned bank encouraged an entrepreneurship spirit and that of education in order to foster national development.
Mr Shakalima said this in an interview in Lusaka at the weekend.
He said the bank got wind of the ‘Mongu rice’ story as it went viral on social media initiated by a third year mining engineering CBU student, Mubiana Sinyinda.
The student, is a Mongu resident, has been ferrying rice from his hometown to Kitwe to help him with his education and part of his family.
Mr Shakalima said the bank gave Mr. Sinyinda K10, 000 to help him boost his business and an additional K5, 000 for his upkeep.
He applauded the CBU student for using social media positively saying the platform was being abused instead of being harnessed for development.
He said the student did not just sit idly by but decided to do something about his situation after noticing a need in his environment.
The bank, he said, was rolling out tailor made financial services through digital and internet banking which was simple, convenient and appealing to customer needs.
“For us there are two things we were contemplating what to do; we wanted to really recognise and reward his ingenuity and the innovative ways in which he did this.
“Our point of reference is on education, which is something close to our hearts, we bank universities, colleges and schools. This is a student who is trying to make ends meet at the university using business,” he said.
The second aspect, Mr Shakalima said, was that the bank was in the business of supporting individuals
and small as well as large businesses.
In response, Mr Sinyinda expressed gratitude to the bank for coming to his aid and challenged other financial institutions to emulate Investrust Bank.
He said he started his business in his second year of studies following financial constraints and branded his rice through a creative mode of marketing via social media.
Mr Sinyinda thanked fellow students and citizens at large who helped spread awareness about his Mongu rice business.