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Ecobank in Zambia

  • Key Figures

    Ecobank Zambia is a full-service bank. It provides Wholesale, Retail, Investment and Transactional Banking services to governments, financial institutions, multinationals, local companies, SMEs and individuals.

    Ecobank has had a presence in Zambia since August 2009 and currently operates through its 7 branches in Lusaka (Thabo Mbeki, Cairo Road, Woodlands and Industrial Branch), and on the Copperbelt (Kitwe, Ndola and Copperbelt University).

    Ecobank Zambia’s services are delivered by three customer-focused business segments namely Corporate Banking, Commercial Banking and Consumer Banking all of which are supported by an Integrated IT platform operated by eProcess, the group’s technology subsidiary.

    The bank is increasingly focusing on digital platforms to provide convenience to its clients. It is committed to serving its clients with speed, accuracy and the highest level of professionalism. Ecobank won the “Best Customer Experience Organisation in Zambia” awarded by the Zambia Institute for Customer Management in 2015. Ecobank Zambia was also awarded the Best Overall Bank for EMV Migration in Southern and East Africa by VISA in 2016. The bank will continue to work towards customer service excellence in Zambia.

    With an asset base of K1.512 billion as at 31st December 2016, the bank was ranked 11th out of 18 commercial banks in Zambia in terms of asset size. Ecobank has laid a great emphasis on digital banking as a means of achieving greater financial inclusion across Africa and also to deliver services in a more efficient and cost effective manner. In 2017, the Ecobank Group was named the “Best Digital Bank in Africa” at the Euromoney Awards. The Group was also awarded winner for “Innovation in Banking” by the African Banker Awards. This attests to its focus on digital solutions as a key driver of its business. Ecobank Zambia is licensed and regulated by Bank of Zambia (BOZ) and operates within the prudential guidelines.

    At the Year End
  • General Information

    Area: 752,618 sq km

    Capital: Lusaka

    Principal cities: Ndola, Kitwe, Livingstone

    Official language: English, major vernaculars – Bemba, Kaonde, Lozi, Lunda, Luvale, Nyanja, Tonga & 70 other indigenous

    Independence day: 24th October

    Population: 14,309,466 (July 2012 est.)

    Demographic growth: 0.034% (2012 est.)

    Life expectancy: 52.57 years (CIA 2012 est.)

    Literacy rate: 80.6% (CIA 2003 est.)

    Religion(s): Christian 50%-75%, Muslim and Hindu 24%-49%, indigenous beliefs 1%

    Human development index: 0.453 HDI

    Currency: Zambian Kwacha (ZMK) = 100 Ngwee

    GDP: $21.93 billion (CIA 2011 est.)

    GDP per capital: $1,600 (CIA 2011 est.)

    Growth rate: 6.7% (CIA 2011 est.)

    Rate of unemployment: 14% (CIA 2006 est.)

    Rate of inflation: 14% (CIA 2006 est.)

    Net budgetary position: -4.2% of GDP (CIA 2011 est.)

    Balance of payment: Surplus of US$48.9 million (BOZ Q4 2011)

    Export partners: Switzerland 51.3%, China 20.3%, South Africa 9.2%, Democratic Republic of the Congo 4.6% (CIA 2010)

    Import partners: South Africa 35%, Democratic Republic of the Congo 23.5%, Kuwait 8.9%, China 5.6% (CIA 2010)

    Contribution of various sectors to GDP: Agriculture: 21.5%, Industry: 35.2%, Services: 43.4% (CIA 2011 est.)

  • Board of Directors

    MR. JOSEPH MWANSA CHIKOLWA

    BOARD CHAIRMAN

    MS. L AINA MOORE

    ECOBANK ZAMBIA MANAGING DIRECTOR

    MS.PROGRESS CHISENGA

    NON EXECUTIVE DIRECTOR

    MR. RAPHAEL MASEKO

    NON EXECUTIVE DIRECTOR

    MR. ELIJAH C. BANDA SC

    NON EXECUTIVE DIRECTOR

    MR. MOSES KURENJEKWA

    NON EXECUTIVE DIRECTOR

    Ms. Inonge Susan Wambulawae

    Non-Executive Director

    Dr James Kanagwa

    Non-Executive Director

  • Annual Reports
    2023 Ecobank Zambia Q3 Financials PDF 273.99 KB Download - 2023 Ecobank Zambia Q3 Financials
    2017 Zambia Financial Statements PDF 7.15 MB Download - 2017 Zambia Financial Statements
    2015 Zambia Audited Financials PDF 533.01 KB Download - 2015 Zambia Audited Financials
    2014 Zambia Annual Report PDF 478.22 KB Download - 2014 Zambia Annual Report
    2013 Zambia Annual Report PDF 478.19 KB Download - 2013 Zambia Annual Report
    2012 Zambia Annual Report PDF 1.22 MB Download - 2012 Zambia Annual Report
    2011 Zambia Annual Report PDF 1.98 MB Download - 2011 Zambia Annual Report
    2010 Zambia Annual Report PDF 316.56 KB Download - 2010 Zambia Annual Report
    2009 Zambia Annual Report PDF 1.05 MB Download - 2009 Zambia Annual Report
  • Latest News
    2025 Ecobank Group and Google Cloud Announce Partnership to Accelerate Financial Inclusion and Innovation Across Africa View
    2025 Ecobank Transnational Incorporated Appoints Group Chief Financial Officer Ayo Adepoju as Group Executive Director View
    2025 Shareholders Approve All Resolutions at Ecobank Transnational Incorporated’s 37th Annual General Meeting View
  • Forms and Documents
    Unwarranted Charges and Fees for Electronic Money Transactions PDF 48.1 KB Download - Unwarranted Charges and Fees for Electronic Money Transactions
    Customer Complaint Process PDF 200.53 KB Download - Customer Complaint Process
    New account application form -- Individual PDF 590.45 KB Download - New account application form -- Individual
    New account application form -- Entities (incorporated and non-incorporated) PDF 619.65 KB Download - New account application form -- Entities (incorporated and non-incorporated)
    PEBL REGISTRATION FORM DOCX 28.49 KB Download - PEBL REGISTRATION FORM
    EXPORT-RECEIPT MONITORING FORM DOC 112 KB Download - EXPORT-RECEIPT MONITORING FORM
    BALANCE PAYMENT MONITORING2 DOC 78 KB Download - BALANCE PAYMENT MONITORING2
    BALANCE PAYMENT MONITORING1 DOCX 35.8 KB Download - BALANCE PAYMENT MONITORING1
    IMPORT-REMITTANCE MONITORING FORM DOC 112 KB Download - IMPORT-REMITTANCE MONITORING FORM
  • Executive Management

    Victor Shidone

    Head Consumer Banking

    Ophelia Nyambe

    Head of Finance

    Tender Simasiku

    Head of Internal Control

    Lamin Sanyang

    Head of Operations and Technology

    Lankie Mwelma

    Head of Treasury

    Rejoice Ntini

    Head of Customer Experiences

    Elvis Chomba

    Head of TSG

    Misheck Mkokweza

    Head of Corporate Banking

    Gabriel Mwami

    Country Head of Risk

    Mwiche Himoonga

    Head Human Resources

    Mwenya Sichula

    Head of Audit

    Themba Lusengo

    Head of Commercial Banking

    Jinga Kapihya

    Head of Compliance

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