On March 8 2005, the Bankers Association of Zambia (BAZ) elected Loita Capital Partners International's (LCPI) Anthony Grant, Managing Director of Finance Bank Zambia, as its new Chairman. LCPI has seconded Anthony to Finance Bank, Zambia's largest indigenous private bank, under a Management Services Agreement between Loita and Finance Bank. Along with the MD position, LCPI provides support to Finance Bank through two other seconded executive positions, namely for Credit & Marketing (Executive Director Charles Carey, previously with Loita Investment Bank Malawi), and for Operations (a new incumbent is expected). Anthony takes over at the helm of the Zambian banking sector from Friday Ndhlovu, MD of Investrust Bank Plc, whose term expired. Larry Kalala, MD of Stanbic Bank was elected Treasurer of BAZ.

(Anthony Grant (left), newly appointed Chairman, (center) outgoing Chairman Mr. Friday Ndhlovu, Investrust Bank, and (right) the new Treasurer Mr. Larry Kalala, Stanbic Bank Zambia)

As BAZ Chairman, Anthony will be responsible for guiding contributions from the Association to making improvements in national payment systems (inter-bank payment and settlements). This system works with the national switch project(an initiative of the new credit information bureau) and which is now almost complete. Anthony will sit on various advisory commissions and boards such as the Zambia Business Forum. He brings a wealth of banking and professional experience to BAZ and previously served in a similar capacity when the ECOWAS region's 16-country West African Bankers Association (WABA) elected him President. Anthony and the Loita Team led Finance Bank to a 44% increase in after-tax profitability last year, and positioning as the country's third most profitable bank.