THE Zambia State Insurance Corporation (ZSIC) says it has paid out K850 million in insurance and pension benefits in the last 18 months. ZSIC Chief Executive Officer Collins Hamusonde says the payments include claims arising from funerals, education policies, pensions and medical expenses. Mr Hamusonde further says ZSIC has reduced the turnaround period of paying […]

THE Zambia State Insurance Corporation (ZSIC) says it has paid out K850 million in insurance and pension benefits in the last 18 months.

ZSIC Chief Executive Officer Collins Hamusonde says the payments include claims arising from funerals, education policies, pensions and medical expenses.

Mr Hamusonde further says ZSIC has reduced the turnaround period of paying claims from 300 days to 31 days, while customer complaint resolution time has been reduced from 45 days to three days.

The Chief Executive Officer said this in Lusaka during an induction meeting for 280 Members of Parliament (MPs).

And National Savings and Credit Bank (NATSAVE) Chief Executive Officer Gladys Chiwele disclosed that through the Bank’s Sustainable Agriculture Financing Facility, it disbursed K500 million to farmers during the 2024/2025 farming season, reaching more than 90 percent of beneficiaries.

And Zambia National Commercial Bank, Acting Managing Director Kalaluka Itwi disclosed that since 2022, it has disbursed more than K560 million in CDF loans to entrepreneurs, cooperatives and small businesses.