LOLC enters Zambia to commence finance operations

The LOLC Group commenced its operations in Zambia recently with the official launch of its inaugural branch located in Lusaka.

The company, which will operate as LOLC Finance Zambia Limited, is a deposit-taking non-banking financial institution and, will provide finance products such as home loans, motor vehicle finance, business loans, and consumer loans, among other products, thus helping to narrow the access to financial services gap in Zambia.

The branch at Lusaka Cairo Road was ceremonially declared open by Freda Tamba, Director, Non-Bank Supervision, Bank of Zambia.

Plans are also underway to open branches in the Copperbelt and North-Western provinces of Zambia in the near future.

LOLC Zambia is LOLC’s ninth overseas finance operation and LOLC has already launched operations in Cambodia, Myanmar, Indonesia, Pakistan, Philippines and Nigeria.