By Steven Godfrey Mkweteza
A civil servant from Mzuzu, Crivis Chirwa has become the overall winner in the First Capital Bank (FCB) ‘zangazanga’ civil servants loan promotion.
Speaking in an interview after conducting the grand draw in Blantyre on Thursday, FCB head of marketing, Twikale Chirwa, said the bank was excited with the overwhelming response that the promotion drew.
Chirwa said through the initiative, the bank provided an opportunity for civil servants to own property who were deducted through the centralised Malawi payment solutions.
“We are very excited indeed to see civil servants across the country who have been able to build houses, buy vehicles and other fixed assets and investments through this facility,” said Chirwa.
Chirwa said the bank came up with the promotion to incentivize existing customers who would like loan top UPS but also encourage potential customers to access the FCB lending.
According to him, the bank has managed to disburse a total of about MK10 billion into the promotion that started in March this year.
Chirwa further said the draw has also recorded a 99 percent of default rate.
During the three month duration of the promotion, customers who consolidated and top up their loans also stood a chance to win some amazing prizes that included gas cookers, solar panels and other consolation prizes.
In a separate interview, Boniface Shawa, another civil servant described the loan facility as good and helpful as it provided an easy and comfortable space for civil servants wanting to get loans from First Capital Bank.
“This loan, which was available for both existing and non-customers, was fast, flexible, affordable and does not require any form of collateral or security as long as one is permanently employed by government. This is very accommodating indeed,” said Shawa.
According to Shawa, the loan which he said was being processed in 48 hours, helped him purchase personal assets, pay for school fees, farming activities and business startups among other things,” said Shawa.
