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Cavmont Bank partners with Prudential Life Assurance Zambia to benefit borrowers.

LUSAKA - Today, Cavmont Bank and Prudential Life Assurance Zambia announced a partnership that will boost the existing partnerships that the local Bank has by providing Credit Life Assurance on lending facilities.

At a signing ceremony held at Prudential House in Lusaka, Cavmont Bank CEO, Charles Carey said: "This landmark partnership with Prudential Life Assurance Zambia will enable us to provide facilities for customers and grow our lending capacity beyond our current support of K531m; 75% of which is taken up by MSMEs. More significantly, we are hopeful that it will create a gateway to even more partnerships that will boost Cavmont's capacity to impact at a personal and household level."

This new offering will be applicable for borrowers aged between 18 and 65 and will cover Total Permanent Disability (TPD), Total Temporal Disability (TTD) and Loss of Employment due to retrenchment, among other benefits.

Commenting on the partnership, Prudential Zambia MD, Krishnaswamy Rajagopal said: "Both Cavmont and Prudential are trusted brands known for putting their customers first and therefore, we believe that this memorandum of understanding, signed today, marks the beginning of an exciting partnership between Prudential Zambia and Cavmont Bank Zambia. We honour all claims to our customers, having already paid out over K15m in the last year, and are confident that this partnership will enable us to offer our mutual customers greater protection and security."

This partnership is effective immediately and will ensure greater financial security for clients at large.