Commercial Capital Corporation Limited (then Union Leasing Limited) is a leasing company, which has been exist for the past fourteen years and has a portfolio of clients holding predominantly operating leases in vehicles, plant and machinery.

Commercial Capital Corporation Limited (CCCL) used to be a subsidiary of Union Bank Limited, which has since been placed under compulsory liquidation.

CCCL was sold to the current shareholders as a going concern. The liquidating of the parent Bank has adverse effects on the operations of CCCL as it could not raise working capital and write leases.

Under new ownership and management CCCL has been able to elevate its profile and quantum of operations in line with the legal-regulatory framework enshrined in the Banking and Financial Services Act (BFSA).

As a prelude to the establishment of a self-sustaining institutional framework, CCCL has positioned itself as premier leasing firm complying with the rigorous demands of the BFSA while maintaining a qualitatively superlative client base.

Key to the sustenance of rapid client turnaround coupled with efficient and effective on-time monthly settlement of lease rentals CCCL is ensuring an elevated net worth of the company.

The lease portfolio, its growth and sustainability is viewed as the bastion of CCCL in terms of future growth of the institution.

CCCL is a registered Financial Institution under the Banking and Financial Services Act of 1994.

It was incorporated on 14th July 1993 with a nominal capital of ZMK 50 million, which was raised to ZMK 500 million as on 20th June 1996, and has since been increased to K10 billion as of 8th May 2006.

The Company was a fully owned subsidiary of Union Bank Zambia Limited until it was sold to the present shareholders through competitive bidding on 8th December 2003 following the placement of the parent Bank under compulsory liquidation by Bank of Zambia on 29th March 2001.

The current management team is as presented in the management section of this profile.

The Company was incorporated and continues to pursue the objective of extending lease finance for capital assets through the provision of various types of lease facilities i.e.

A total market approach to market segmentation has been adopted with the target market being the entire gamut of economic activities with key consideration being economic viability and financial soundness of entrepreneurial proposals.

In other words the company has a wide assortment of clients from different sectors of the economy.

In this regard the CCCL purports to inter alia:

1.Provide various forms of lease finance and other financial products as factoring and purchase order finance to entrepreneurs.

2.Penetrate the leasing services industry and generate other more lucrative financial products/services. Ensure a rich corporate clientele base. Individual projects are treated sparingly unless supported by counterpart finances. This is averting the problem of credit management and ensuring leveraged liquidity posture through dealing with entrepreneurs with credible pedigree.

3.Maintain an unsurpassed quality service orientation that attaches a finesse tag at competitive lease rentals. In addition, CCCL provides its clients with a comprehensive and well-integrated service package augmented with customised financing structures and highly responsive orientation.

4.Undertake market entry and development to procure a fair share of the lease market with a view to tapping market niches where the intensity of competition is high and major shares(of about 20% to 30% within five years) where competition is but modicum.

5.Building of current marketing assets(underscored by existing infrastructure) to levels which will enable CCCL compete with other leasing houses along professional lines in providing service to the customer`s satisfaction at competitive rate.

6.Blossom into a fully-fledged merchant banking institution after acquiring external equity participation and loan finance.

"first"; Principally, the Company provides full day out finance leases. The total cost of the leased asset(s) is recovered over the primary period.

Under the finance contracts the lessee is responsible for repair and maintenance, insurance, licensing, registration, taxes, legal and other expenses.