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
-
Ghana Partners with eLearning Africa to Boost Digital Learning Nationwide
18:31
-
Togo Updates PURS Program with Partners amid Increased Insecurity-induced Displacement in North
18:17
-
Port of Limbé: Cameroon Bets on Turkish Yenigün, a Controversial Partner in a Risky BOT Deal
18:11
-
Ghana Launches Training Program to Boost Cancer Care Across Africa
17:45
-
DR Congo: Kamoa-Kakula Copper Smelter Secures Full Production Sales
17:41
-
African Liquefied Natural Gas Sector Fuels Asian Shipbuilding
17:37
-
Flutterwave Secures Payment License in Senegal, Expands Francophone Africa Presence
16:53
-
Logistics Startup Leta Launches Operations in Ghana
16:39
-
CEMAC Inflation Slows, but Cameroon Keeps Prices High in Q1 2025
15:33
-
Togo Launches 23 Local Development Projects Backed by GIZ Funding
15:27
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...
• EY is preparing to leave Francophone Sub-Saharan Africa by 2026• The exit could unlock $500 m...
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
• Ghana signs a deal with eLearning Africa to expand digital learning access across the country.• The partnership focuses on deploying modern digital...
Ghana launches the Oncology Nurse Leadership Program (ONLEP) to train specialized oncology nurses from seven African countries. The five-year...
Ivanhoe Mines signs deal covering 100% of Kamoa-Kakula smelter’s copper output. The smelter will process up to 500,000 tonnes annually, starting at...
African gas projects drive significant contracts for Asian shipbuilders, especially for Floating Liquefied Natural Gas (FLNG) units. South Korean...
Kolmanskop offers a haunting blend of lost wealth, colonial history, and the unstoppable force of nature. Located just a few kilometers inland from...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...