Continuing its strong progress, AMZ crossed 50,000 clients for the month ended November 2019.  More importantly, its loan sizes remain small, with average loans outstanding per client of less than USD 100 (ZMW 1,332).  An overwhelming majority of our clients are small-farmers.

 

AMZ is one of the most efficient operators in the region, managing the clientele with a total staff of 165, which translates into a client/staff ratio of 311.  Its asset quality remains impeccably clean, with a PAR30 of less than 1%.  

 

This has been a remarkable turn-around of an institution that faced many challenges during 2014-15.  After a careful course-correction phase, AMZ has consciously diversified its product range as well as geographic coverage.  As a result of this strategy, we have seen our client numbers increase from 16,756 at the end of 2017 to 51,317 as of now.  Currently, we offer multiple loan products, as well as health, weather-index and life insurance, and partner with payment providers to offer money transfer services across 6 provinces of Zambia.  

 

Our current areas of operations can be seen here:

https://www.amz.co.zm/areas-of-operation

 

A number of new initiatives are underway to ensure that our growth is achieved with optimum quality.  This includes an upgrade to our core banking system during 2020, as well as further enhancement to our credit assessment processes with the introduction of credit scoring systems on all products, as well as seamless integration of front-end technology with the core banking system.

 

We are now looking forward to an exciting 2020 with a number of upgrades to our operations.  We will keep you posted!