PROJECT

Projects

Summary of Investment Information

Project Number

38700

Company Name

Stanbic Bank (Z) Ltd

Date SPI Disclosed

Jun 26, 2018

Country

Zambia

Region

Africa

Projected Board Date

Jul 31, 2018

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jun 6, 2019

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Jan 30, 2019
Signed : May 9, 2019
Invested : Jun 4, 2019

Sector

Commercial Banking - General

Project Description

The project involves IFC financing of up to ZMW 200 million (approximately US$20 million equivalent) to Stanbic Bank Zambia Limited (“Stanbic Zambia” or the “Bank”), a leading commercial bank in Zambia.  The funding will primarily be used for expanding the Bank’s lending operations to small and medium enterprises (“SMEs”), including women-owned SMEs (“WSMEs”), as well as to the agribusiness sector.                                                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation