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
-
MTN Ghana tightens controls on mobile money agents over fraud concerns
11:02
-
Carrefour expands in West Africa, enters Nigeria and Guinea
10:56
-
Burkina Faso Plans Decree to Raise Stake in Kiaka Gold Mine from 15% to 40%
10:54
-
Egypt Reports Strong Growth, but IMF Cuts 2026 Outlook
10:29
-
Kenyan Startup Rafode Bridges Credit Gap for Unbanked Rural Populations
05:05
-
Togo updates Sahel policy amid regional shifts in West Africa
05:01
-
Refiant CEO Viroshan Naicker Tackles AI Energy Costs with Model Optimization
04:59
-
Guinea Signs UNDP Agreement to Advance AI and Digital Innovation
04:44
-
Cameroon Cocoa Prices Fall Short of Expectations in 2025–2026 Season
04:32
-
Used Clothing Imports Rival Cost of Restructuring Cameroon’s Cicam
04:16
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
Nigeria, Nestlé sign MoU for dairy training center in Abuja Center to train farmers in breeding, ...
Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...
MTN Ghana launches crackdown on mobile money agent fraud Audits trigger warnings, suspensions, or removals for violations Move follows rapid...
Carrefour enters Guinea, Nigeria via franchise deals with local partners Initial rollout includes 11 stores; 20 more planned by 2028 Expansion...
WAF halts trading ahead of Burkina Faso stake increase decree State may raise Kiaka mine stake from 15% to 40% Move aligns with 2024 mining...
Growth driven by private investment and stronger external inflows Primary surplus and tax revenues show marked improvement IMF lowers 2026...
Fally Ipupa plans a two-part album project combining urban sounds and traditional rumba. The first album “XX” releases on April 17, while “XX Delirium”...
MASA 2026 gathers artists and industry professionals from over 28 countries in Abidjan. The event features 99 performances across market and...