Our Address

Plot 33081(Off Twin Palm Rd), Lusaka


+260 956 797719 - Does not receive SMS!


admin@nkwazicoop.com - The Administrator

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Frequently Asked Questions

Frequently Asked Questions

Q. Can I withdraw some money from my savings?
A. Yes, you can withdraw any amount you want from your savings but it must not be more than 25% of your net savings at a time. Net Savings is total savings less all outstanding loans.

Q. Is there a limit on how many times I can make withdraws from my savings?
A. Yes, you can only make one withdrawal in a period of thirty (30) days.

Q. What if I leave employment and stop earning a regular income can continue being a member?
A. Yes, you may continue being a member but your account will be put on monthly schedule. In that case you should directly deposit your contributions into the Nkwazi bank account.

Q. How can I check my savings and loan balances?
A. You can check your savings and loans balances by requesting for your statement at the Nkwazi office where all Nkwazi records are managed and stored. However, soon you should be able to check for your deposit and savings balances online through the Members Are of the Nkwazi Coop web site

Q. What benefit do I get if I do not want to get any loans from Nkwazi?
A. As long as you are a fully paid up member you will be entitled to get dividends.

Dividends are calculated as follows: Dividends = Average Savings + ZMW1,000 shares x Rate (%).

The rate is decided upon by the Board after taking into account income earned and operating expenses at the end of a financial year.
Q. What is the additional savings policy?
A. This is an amendment to the Loans Policy that was introduced in 2017 for members to increase the amount that is saved each Pay Period or month, and is calculated at 0.175% of the total loan amount applied for. This additional amount goes to the members’ savings and only applies to Provident and Commodity loans.

We have been improving the livelihoods of members since 1997 by promoting the culture of saving among our members, based on values of self-help, self-responsibility, democracy, equality and solidarity. Read more

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Mon 08:00 AM - 13:00 PM 14:00 PM - 17:00 PM
Tue 08:00 AM - 13:00 PM 14:00 PM - 17:00 PM
Wed 08:00 AM - 13:00 PM 14:00 PM - 17:00 PM
Thur 08:00 AM - 13:00 PM 14:00 PM - 17:00 PM
Fri 07:30 AM - 15:30 PM  
Weekend CLOSED  

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