Fairworld CEO Urges Calm Amidst Investrust Bank PLC Acquisition
In the wake of the recent acquisition of Investrust Bank PLC by the Bank of Zambia, Chisebwe Fumbeshi, the Chief Executive Officer of Fairworld Properties Limited, has called for stability and composure among real estate investors and developers in Zambia.
The announcement of the takeover by Zambia’s Central Bank, effective April 2, 2024, due to Investrust Bank PLC’s insolvency, has stirred concerns within the financial community. However, Fumbeshi commended the Bank of Zambia’s decisive measures aimed at safeguarding depositor interests and ensuring financial stability.
In a statement released on Wednesday, April 3, 2024, Fumbeshi reassured clients and stakeholders in the real estate sector, emphasizing that while the news may be worrying, it should not prompt panic. Fairworld Properties Limited is closely monitoring the situation and awaits the conclusion of the Bank of Zambia’s resolution process to assess its implications on real estate investments.
Fumbeshi urged individuals to remain calm and make informed decisions, advising them to stay updated with official announcements from the Bank of Zambia. He assured that Fairworld Properties Limited is readily available to assist with any inquiries related to real estate investments and market conditions.
The CEO pledged to provide regular updates to clients as the situation unfolds and as more detailed information becomes available from the Bank of Zambia’s resolution procedures.
Fairworld Properties Limited, established as a premier property valuation and advisory company in Lusaka, Zambia, boasts 35 years of combined experience in Zambia and surrounding countries. The company specializes in various services including valuation, property investment advisory, construction management, full property management, fixed asset consulting, real estate training, and real estate technology & climate-tech consulting.
The firm is dedicated to delivering expert insights and strategic solutions aimed at driving value and innovation in the real estate and extractive industries.
