FNB ZAMBIA PAYS COURTESY CALL ON CCPC

2025-07-01

The Competition and Consumer Protection Commission (CCPC) has urged financial institutions to place consumers at the center of their service delivery by developing customer-centric financial products and ensuring full disclosure of all relevant information to consumers. Speaking during a courtesy visit by FNB Zambia to the Commission recently, CCPC Executive Director Mrs. Eunice Phiri Hamavhwa emphasized the need for financial institutions to prioritize transparency and responsiveness. She noted that the Commission aimed to reduce the number of complaints in the financial sector. Additionally, she encouraged institutions to expedite reversal processes to build consumer confidence and trust in the digital era. CCPC also cautioned against anti-competitive practices such as cartels and stressed that all mergers must be notified to the Commission as per requirement under the Competition and Consumer Protection Act. No. 24 of 2010 as amended by Act No. 21 of 2023. Meanwhile, FNB Zambia Chief Executive Officer Ms. Kapumpa Chola highlighted the bank’s internal efforts to uphold good conduct and ensure consumer welfare. She explained that FNB regularly conducts staff trainings to ensure high standards of service and ethical engagement with customers. Ms. Chola further shared that FNB Zambia actively engages communities through financial literacy programs and awareness campaigns using various platforms. She said the bank aligns its operations with the provisions of the Act as it also takes consumer complaints seriously. She expressed gratitude at the Commission's willingness to engage with stakeholders in a friendly environment and commended the Commission's open-door policy. CCPC commended FNB Zambia for maintaining a strong track record of resolving consumer complaints in a timely manner.

CCPC

PR-Unit