News from AB Bank Zambia
Pricing Transparency Certificate awarded to AB Bank Zambia
Lusaka, 30 March 2012. AB Bank Zambia has been awarded with a Certificate of Pricing Transparency by mftransparency.org, for participating in the Transparent Pricing Initiative in Zambia. AB Bank’s product pricing data are now displayed together with the data of 11 other microfinance providers in Zambia on the mftransparency.org website.
AB Bank Zambia Limited is the newest commercial microfinance bank in the Access Microfinance Holding Network. AB Bank Zambia started its operations in October 2011, with the mission to improve access to a broad range of financial services for the majority of Zambians and their businesses in a sustainable and efficient manner.
AB Bank is owned by the following shareholders: FMO (Netherlands Development Finance Company), IFC (International Finance Corporation – World Bank Group), KfW (German Development Bank), Rural Impulse Fund (Incofin Investment Management) and Access Microfinance Holding, strategic investor in microfinance based in Berlin, Germany.
MFTransparency was established in 2008 to promote the welfare of poor micro.entrepreneurs, and to promote the integrity of microfinance as a poverty alleviation practice. Its mission is to be the venue for the microfinance industry to publicly demonstrate its commitment to pricing transparency, integrity and poverty alleviation.