geo/zambia
Washington, D.C., March 31th, 2020 –AB Bank Zambia became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
Ecobank has partnered with Kazang Zambia to offer affordable banking services outside the normal business hours. Introducing the Ecobank Xpress Point in partnership with Kazang, the bank’s managing director for Zambia, Kola Adeleke, said the service will avail customers with convenient and efficient banking channels in their localities.
Article via Zambia Daily Mail.
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SME Finance Forum member, Overseas Private Investment Corporation (OPIC) President and Chief Executive Officer Ray W. Washburne traveled to Zambia where he toured Zambia’s first utility scale solar power facility which is being supported by a $13 million OPIC loan and a $26 million loan from the International Finance Corporation to Neoen and Arizona-based First Solar, the joint developers of the project. The project supports the mission of Power Africa.
Commercial bank based in Zambia seeking to improve access to financial services for individuals and MSME. MSME sector represents. The MSME sector comprises 97% of their loan clients.
For Zambia’s digital financial services (DFS) industry, 2018 saw growth in the number of active DFS account users, growth in the number of agents nationwide and growth in the number of products available to customers. These indicators of growth in the industry are findings in the Annual Provider Survey (APS), which UNCDF has conducted for over three years, and which UNCDF and Bank of Zambia compiled into the State of the Zambia DFS Industry 2018 Report.
IFC announced a 200 million Zambian Kwacha (approximately $15 million) loan to Stanbic Bank Zambia, a wholly owned subsidiary of Standard Bank Group. The investment will help Stanbic Bank expand its lending to small and medium enterprises, with at least 25% of the loan earmarked for women-owned businesses in Zambia.
Lawrence Sikutwa & Associates, trading as Madison Insurance Group holds and represents shareholding interest of management in Madison Insurance Company.
This study on women's access to financial services in Zambia aimed at understanding gender usage and behavior towards financial services in Zambia.
IFC recently announced an advisory services agreement, valued at $1 million, with Airtel Zambia to increase access to mobile financial services in the Zambian market in order to strengthen financial inclusion. In Zambia, two-thirds of the adult population is excluded from formal financial services. The overall aim of the three-year project is to assist Airtel Money Zambia in building a sustainable mobile money operation.
