INSTITUTIONS OFFERING BANKING AND FINANCE LISTED AT THE BOTTOM
WHAT IS BANKING AND FINANCE WHO IS A BANKER?
Banking refers to the process in which a bank offers financial services to customers such as depositing money, issuing of foreign exchange currency, lending money, saving money and clearing of cheques. Finance refers to the use of funds and how these funds can be invested. Therefore, banking and finance is a field of study that takes an in depth look at how various financial services work in tandem with the banking institutions.
A banker is any person that carries out the business of banking. This includes accepting of deposits by customers payable on demand. These funds deposited into the bank are transformed into loans that the bank extends to individuals who have deficit funds and wish to invest the money in the economy or build a house and carry out other uses. Bankers also offer one to one services such as clearing of cheques, giving investment advice, processing a loan and issuing of debit and credit cards.
WHERE DO BANKERS WORK?
Bankers typically work in any banking institutions whether it be a commercial or government institution. The work of a banker is not only limited to a bank but in any firm that has a finance department. This is because the field of study takes a look into finance fields such as accounts, economics, risk management and insurance.
As earlier stated, a banker can also work in an insurance company, selling insurance policies to customers. A banker can also work in a foreign exchange institution such as a bureau de change, where foreign exchange or foreign currency is simultaneously bought and sold.
Bankers who are in financial department can carry out tasks of an accountant because of the many finance-related courses they get to cover; preparing financial statements, making budgets and providing financial advice.
WHAT TASKS ARE INVOLVED IN THE WORK?
Bankers in a bank are required to raise capital to create loans and investments. They charge interest and fees for the services and seek profit on the investments. Institutions including small businesses, large corporations and governments may seek regulatory advice, fund management solutions and of course, loans. Individuals need basic banking services such as a checking or savings accounts, and sometimes larger needs such as buying a home.
Bankers in insurance companies prepare insurance policies to sell to clients. This work involves computing the amount of premiums a customer will pay, assess the riskiness of customers before insurance policies are bought and insuring there is little to none insurance fraud
Bankers in financial departments can take part in auditing tasks, both of their firm and other independent firms. They create financial statements so that there is transparency and efficiency in a company
WHAT IS THE WORK SCHEDULE OF A BANKER?
The work schedule of a banker is not necessarily a busy one, typical work hours run from 7:30 till 17:00. The bankers schedule depends on the kind of work that has been assigned. After the bank closes, workers must stay behind to balance up transactions that were carried out during that business day. The work within a bank is mostly computerized thereby making work less complicated.
WHAT DOES THE JOB MARKET LOOK LIKE?
The biggest employing sector is the banking sector and seeing as Zanaco is Zambia’s biggest commercial bank, it is the biggest employer of bankers. What influences the market is the need of newer employees. Zambia has around 19 commercial banks hence the competition is stiff and each bank wants to get more innovative with it’s products and services.
WHAT SORT OF CAREER-PERSONALITY MATCH IS REQUIRED?
A career in banking and finance is demanding. This is because the world is changing every day and the financial sector is no exception. With increased globalisation, the financial world is volatile and sensitive to a minor changes in the world. It is therefore requested to read widely and staying up to date with current affairs as political climates affect banks. A student must also be interested in subjects like accounting, bookkeeping, mathematics, commerce and business studies.
INSTITUTIONS OFFERING BANKING AND FINANCE LISTED AT THE BOTTOM
WHAT SUBJECTS WILL THE PROGRAM COVER?
Upon entry into university, students will cover courses basic business courses such as economics, accounts, financial mathematics, business law and banking operations. The next year focuses on a build up of the courses done in the first year include statistical analysis, corporate finance, financial reporting, monetary and financial systems and marketing. The last 2 years of the study are concerned with the practical training of being a banker and focus is on Investment analysis, Risk management, Banking law, Insurance and pension management, Corporate and merchant banking and international trade economics.
WHAT ARE THE ENTRY REQUIREMENTS?
Admission to schools of business is relative, depending on the level of competition in the learning institution of choice. Typically, a prospective student needs to have scored at least 12 points in the best 6 subjects (including Mathematics, English language and Social sciences) at grade 12. Good grades in business studies (i.e., commerce, accounts) are an added advantage.
WHAT OTHER PROGRAMS OF STUDY CAN MAKE SOMEONE A BANKER?
Bachelor’s degree in banking and finance is the first professional degrees awarded upon graduation from business schools in most commonwealth countries.
WHAT ARE THE FUTURE ADVANCED QUALIFICATIONS AVAILABLE AND WHY?
After graduation from the school of business, the next advanced qualification is Master of banking and finance as well as professorship programs albeit professorship level is a more diverse qualification. Advancement of studies is important, not only from a job perspective but even in the recipient of the knowledge. Due to the fact that business is changing, one would find it easy to cope with the volatility of the sector.
INSTITUTIONS OFFERING BANKING AND FINANCE
COPPERBELT UNIVERSITY
Programme duration: 4 years (degree)
Mode of study: Full-Time, Evening and Distance Learning
Admitting school: School of Business
Intakes: January
Location: Kitwe
Contacts
Tel: +260 212 290816 / +260 212 290815
Email: deansb@cbu.ac.zm
Website: www.cbu.ac.zm
ZAMBIA CENTRE OF ACCOUNTANCY STUDIES UNIVERSITY
Programme duration: 4 years (degree)
Mode of study: Full-time, Part-time and Distance Learning
Admitting school: School of Business
Intakes: August
Location: Lusaka
Contacts
Tel: +260 211 232093 / +260 211 222542
Email: information@zcas.edu.zm
Website: www.zcas.ac.zm/zcas-university/fees
MULUNGUSHI UNIVERSITY
Programme duration: 4 years (degree)
Mode: Full-Time
Admitting school: School of Business Studies
Intakes: September
Location: Kabwe
Contacts
Tel: +260 215 228004
Email: academic@mu.ac.zm
Website: www.mu.ac.zm
CAVENDISH UNIVERSITY ZAMBIA
Programme duration: 4 Years (degree)
Mode of study: Full-Time and Distance Learning
Admitting school: School of Business and Information Technology
Intakes: January and July
Location: Lusaka
Contacts
Tel: +260 211 387600 / +260 211 387601
Email: jchikonde@cavendish.co.zm
Website: www.cavendishza.org/admissions/fee-structure
UNIVERSITY OF LUSAKA
Programme duration: 4 years (degree)
Mode of study: Full-Time, Part-Time and Distance Learning
Admitting school: School of Business and Management
Intakes: January and July
Location: Lusaka
Contacts
Tel: +260 972 832671 / +260 976 075850
E-mail: registraracademic@unilus.ac.zm
Website: www.unilus.ac.zm/fees.php
KWAME NKRUMAH UNIVERSITY
Programme duration: 4 years (degree)
Mode of study: Full-Time and Distance Learning
Admitting school: School of Business Studies
Intakes: September for Full-Time, and April for Distance Learning
Location: Kabwe
Contacts
Tel: +260 975 900402/+260 953 909029
Email: registrar@nkrumah.edu.zm
Website: www.nkrumah.edu.zm
NATIONAL INSTITUTE OF PUBLIC ADMINISTRATION
Programme duration: 3 years (diploma) / 4 years (degree)
Mode of study: Full-Time, Part-Time, and Distance Learning
Admitting school:
Intakes: January and July
Location: Lusaka
Contacts
Tel: +260 211 228803
Email: registrar@nipa.ac.zm
Website: www.nipa.ac.zm
KENNETH KAUNDA METROPOLITAN UNIVERSITY
Programme duration: 4 years (degree)
Mode of study: Full-Time, Part-Time and Distance Learning
Admitting school: School of Business
Intakes: July for Full-Time and Part-Time, and October for Distance Learning
Location: Lusaka
Contacts
Tel: +260 211 268471/+260 965 943695
Email: admissions@kkmu.edu.zm
Website: www.kkmu.edu.zm
EDEN UNIVERSITY
Programme duration: 4 years (degree)
Mode of study: Full-Time, Part-Time, and Distance Learning
Admitting school: School of Law and Business Studies
Intakes: January and July
Location: Lusaka
Contacts
Tel: +260 211 843535/+260 977 794995
Email: edenuniversity@edenuniversity.edu.zm
Website: www.edenuniversity.edu.zm
THE ZAMBIA CATHOLIC UNIVERSITY
Programme duration: 4 years (degree)
Mode of study: Full-Time, Part-Time and Distance Learning
Admitting school: Faculty of Business Management and Finance
Intakes: January and July for Full-Time and Part-Time, and April, August and December for Distance Learning
Location: Kalulushi
Contacts
Tel: +260 212 730209/+260 974 305033
Email: registrar@zcuniversity.edu.zm
Website: www.zcuniversity.edu.zm/financeandfees.html