IDC Signs Shareholder Agreement with INDO Zambia Bank

IDC Group CEO Mr Mateyo Kaluba has expressed confidence that the Shareholder’s agreement signed today between the IDC, Bank of Baroda, Bank of India and Central Bank of India reaffirms a long standing relationship between the four shareholders.

He said the agreement clarifies the roles and expectations of the respective parties, preserves mutual understanding and serves as a solid foundation for the partnership’s strategic intent.

IDC has an equity stake of 40% in INDO Zambia Bank.