Kawambwa Crop Bulking Company (KCBC) has set up seven (7) new mobile banking posts to promote access to financial services in Kawambwa district.
The Mobile Banking posts were set up with support from RUFEP under the Agency and Mobile Banking Window II of the Innovation and Outreach matching Facility (IOF).
RUFEP’s signed a matching grant (IOF) with KCBC on the 10th January 2020 to support the Kawambwa Rural Farmers Market and Financial Access Support (KARUFAMAS) Project aimed to increase financial services access points for smallholder farmers from three (3) to seven (7) in Kawambwa District.
On the 18th November, 2020, RUFEP conducted field visits in Kawambwa District to monitor progress of the KARUFAMAS Project and to harvest knowledge from project implementation.
Speaking during the field visit, Project Manager Collins Phiri said the additional banking posts were set up in Matelo, at Mbereshi Mission Hospital, Muyembe Clinic, Kota, Msungu, Mushota and Tea Estates.
Mr. Phiri disclosed that while the project targeted to reach 975 beneficiaries particularly smallholder farmers, by the time of the field visit the total outreach was 1,200.
Among the beneficiaries of the Mobile Banking post set up in Matelo were members of Kawambwa South Cooperative, Bulangililo Cooperative, Tungulila Multi-Purpose Cooperative, Kawambwa Young Entrepreneurs Cooperative and Ukusushelungu Multi-purpose Cooperative Society.
In Mushota, the banking post set up by Airtel targeted to benefit smallholder farmers (mainly beans farmers) who are members of Ilombe Cooperative, Ntembo Cooperative and Kutemwa Cooperative.
During the field visits, KCBC and the RUFEP Team met with Cooperatives in Kawambwa’s Matelo area and in Mushota in Pambashe Constituency, about 47 Kilometers from Kawambwa.
The beneficiaries thanked KCBC and RUFEP for the initiative to set up mobile banking posts which has eased access to financial services for the people.
Kaputa Kawesha, the Chairperson for Tungulila Multi-Purpose Cooperative in Kawambwa said the banking post set up by KCBC in Matelo has brought financial services closer to the community in the area.
Meanwhile, Mr. Phiri disclosed that Kawambwa Crop Bulking Company was constructing a warehouse with a view to aggregate commodities starting with beans and to provide Warehouse Receipt Financing System (WHRS) to beans farmers.
He said through Action Africa Help Zambia (AAH), KCBC received funding worthy US$25,000 from Julia Taft Fund for the WHRS as a result of the RUFEP supported KARUFAMAS project to promote rural and agricultural financing targeting smallholder farmers in Kawambwa District.