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
-
Algeria Labels French Colonial Rule a Crime in New Law
19:04
-
Zimbabwe and Zambia Advance Strategic Mining Corridor
18:57
-
Togo earmarks CFA1.3 bln to procure 742,902 mosquito nets in 2026
18:01
-
FAO, Togo ministry roll out RuralInvest to improve farm project financing
17:49
-
Togo unveils STELLA project to train 2,000 engineers by 2030
17:42
-
Togo inflation edges up to 1.6% in March, led by housing and energy
17:32
-
Ghana Seeks EU Funding to Fix Rail Bottleneck on Tema–Mpakadan Line
17:08
-
Morocco Joins U.S. Program Linking Farm Aid to Export Growth
17:06
-
Burkina Faso Moves Travel Declarations Online in Security Push
17:03
-
Morocco and Gabon Expand Digital Partnership With Focus on Skills and AI
16:58
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
M-PESA evolves into major financial platform with 35 million users Telecoms, fintechs expan...
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
Coca-Cola unit trains 260+ SMEs in Namibia business skills Program targets women, youth, disabled...
Algeria’s upper house approved a law classifying French colonial rule (1830–1962) as a crime. Authorities framed the legislation as a legal and...
Zimbabwe and Zambia signed an MoU for a 311 km rail link to support mining exports. The project could reduce transport distances to Beira port by...
Funding would modernize signaling on Tema–Mpakadan line Upgrade aims to allow simultaneous train movements Project tied to broader push to...
Morocco selected under $226 million USDA program for 2026 Initiative blends farm support with expansion of U.S. exports Could back...
Nosy Iranja is one of the most iconic island destinations in northwestern Madagascar, lying in the Mozambique Channel about an hour and a half by boat...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...