Melo News | Wednesday, April 3, 2024 | Kitwe
Investrust Bank customers were in a state of distress as they flocked to the bank’s branches across Lusaka this morning, seeking answers about the fate of their investments after the Bank of Zambia took over the financial institution due to its insolvency.
Disappointed and frustrated, the customers arrived as early as 06:00hrs, hoping to have a conversation with management officials, but their concerns were not immediately addressed, leading to rising tensions among the crowd. Many of those interviewed expressed their worries about not being able to access their funds, which would make their lives even more challenging in the current economic climate, forcing them to seek alternative sources of income.
The news of Investrust Bank’s insolvency and subsequent takeover by the Bank of Zambia has left clients in Kitwe on the Copperbelt devastated and in a state of disbelief. A visit to the Kitwe Town Center Branch by Melo News revealed a significant police presence, ensuring security as a large number of people rushed to the locked office, only to find themselves unable to access their money, leaving them astonished.
Numerous individual and business account holders shared their plight, stating that their entire investments or recently credited salaries were suddenly out of reach. In light of their predicament, some of the interviewed clients appealed to President Hakainde Hichilema to intervene and ensure that they receive their funds promptly, as their livelihoods, rent payments, and other essential needs depended on these funds.
Despite the distress and uncertainty faced by Investrust Bank customers, the Bank of Zambia sought to reassure them of the safety of their money through notices posted at various branches. The central bank emphasized that it was working diligently to put necessary measures in place to safeguard the customers’ funds.
While this provided some assurance, the customers remained anxious about the accessibility of their money and the impact it would have on their daily lives. The situation highlighted the challenging state of the economy, forcing individuals to navigate through alternative sources of income and financial stability during this difficult period.
