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
-
Senegal, U.S. Sign $135M Health Cooperation Agreement to Strengthen Surveillance, Labs
17:05
-
Companies in Côte d’Ivoire meet to advance UN Global Compact sustainability agenda
16:52
-
Strengthening the Business Climate in WAEMU Countries: CCR-UEMOA Reviews Its Midterm Record
15:41
-
Togo plans interprofessional council for its shea industry
15:19
-
Togo shea industry maps path to sustainable growth, new governance body
19:33
-
Togo's annual inflation holds at 0.4% in February, among lowest in WAEMU
19:19
-
Algeria Launches Commission to Drive University 4.0 Transition
20:41
-
CCI-Togo Previews Program to Train Women as Truck and Crane Operators
20:29
-
Equatorial Guinea’s Bange Bank Expands in Cameroon with Six New Branches
20:27
-
Cameroon Plans CFA40 Billion Capital Increase for State SME Bank
19:41
MTN Zambia tests Starlink satellite service connecting phones directly from space Direct-to...
Since its 2019 IPO, Airtel Africa paid Deloitte over $37 million in audit and non-audit fees,...
Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...
EIB commits over €1 billion for renewable energy in sub-Saharan Africa Funding supports Miss...
Tilenga oil project required land from 4,954 households in Uganda Over 99% of affected households...
Senegal, U.S. sign $135 million health system support deal Funding targets surveillance, labs, workforce training and digital health...
Orange Côte d’Ivoire hosts UN Global Compact network meeting Firms discuss CSR, sustainability standards and private sector collaboration Membership...
Togo shea stakeholders meet in Kara to address sustainability challenges Over 150 participants discuss value chain organization and market...
Nigerian Breweries begins pilot barley cultivation to cut imports Ethiopia leads Africa barley output; Morocco, Algeria major producers Nigeria aims...
Actress Wunmi Mosakuand director Kaouther Ben Haniarepresent Africa among contenders at the 2026 Oscars. Mosaku received a nomination for Best...
With much of Africa’s cultural heritage still held outside the continent and restitutions in Europe moving slowly, a South African video game imagines...