What is Direct Debit and Credit Clearing (DDACC) and how can I benefit from it?

Modified on Fri, 18 Sep 2020 at 05:02 PM

DDACC is an inter-bank electronic settlement system allowing banks to directly transfer funds between bank accounts by Direct Debit and Credit Clearing via the Zambia Electronic Clearing House. This facility is used to transmit dividends directly into shareholders’ bank accounts.

Any shareholder can use this mode of receiving dividend payments. CEC only requires that you (the shareholder) provide it with your current bank account details with an instruction for any dividends declared by the Company to be paid into your nominated account. Thereafter, your payments will be made directly to the bank account details you have provided.

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