Zambia: Stanbic Bank secures $15 mln IFC credit line to support Women-led SMEs
Tuesday, 16 July 2019 17:29
Stanbic Bank Zambia, local branch of South Africa’s Standard Bank, secured a credit line worth $15 million from World Bank’s International Finance Corporation IFC to support SMEs growth.
The bank says at least 25 percent of the loan is dedicated to women-led businesses. “By 2022, we plan to quadruple the number of women-owned SME borrowers from 50 to about 200, representing an outstanding portfolio of 80 million Zambian kwacha, up from 16 million Zambian kwacha,” said Leina Gabaraane (photo), MD of Stanbic Bank Zambia.
Women-owned SMEs face financial deficit estimated at $474 million, according to a March 2018 IFC study themed “Republic of Zambia: systematic Country Diagnostic.”
This IFC support is the second secured by the Zambian bank after the $11 million subordinated loan in 2006.
Chamberline Moko
Live News
-
Why Cameroon’s Electricity Sector Faces a Breaking Point | Op-Ed
06:48
-
Durban Port PPP with ICTSI takes effect, marking start of Pier 2 overhaul
16:44
-
Togo’s Zio 1 municipality sets CFA1.23bn budget for 2026, down 1.2% YoY
16:31
-
Benin delays restart of Sèmè field over technical setbacks
16:26
-
Weekly Health Update | Medical Exodus, Outbreaks, and Malnutrition Strain Africa
16:17
-
Zimbabwe Plans Third National Satellite to Expand Internet Access
20:30
-
Casino Exits BAO Cash & Carry Business In Cameroon
12:11
-
Cameroon Announces Special Road Rehabilitation Programme This Year
11:54
-
Mina Shawky Streamlines Access to Healthcare With Digital Platform CliniDo
10:57
-
Ali Mokrani Streamlines E-Commerce Operations With Ayor AI
10:13
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Nigeria confirms tax reform takes effect Jan. 1, 2026 despite opposition PDP alleges illegal inse...
Creditinfo licensed to operate credit bureau across six CEMAC countries Bureau to collect b...
Partnership targets priority projects, startup support and skills training Deal aligns with...
Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...
On November 19, 2025, the Cameroonian state completed what has been described as the renationalization of ENEO (Energy of Cameroon), agreeing to buy back...
Transnet–ICTSI partnership for Durban Pier 2 became effective on January 1, 2026 Private investment targets higher capacity and improved terminal...
Technical difficulties disrupt drilling operations offshore Benin Sèmè field restart, planned for late 2025, pushed back with no new date Target...
Several countries across Africa face mounting public health challenges, ranging from workforce shortages and ethical concerns in medical research to...
Each year around 2 January, the streets of Cape Town host the Cape Town Minstrel Carnival, also known as Kaapse Klopse. Rooted in the nineteenth century,...
Afrochella, now known as AfroFuture, is a cultural event held annually in Ghana, mainly in Accra, around the Christmas and end-of-year period. Launched in...