First National Bank (FNB) Zambia has secured a US$20 Million financing facility aimed at expanding financial support to Micro, Small and Medium Enterprises (MSMEs) and women-led businesses in the country.
Speaking during the signing of a Memorandum of Understanding (MoU) between FNB Zambia and British International Investment (BII), FNB Zambia Chief Executive Officer, Kapumpe Chola, said the MoU represents a shared commitment to unlocking business potential, empowering entrepreneurs and promoting inclusive economic growth in Zambia.
The media reports that Ms Chola added that the agreement will enable the bank to increase lending to small and growing businesses that often struggle to access affordable finance.
She explained that MSMEs remain the backbone of Zambia’s economy as they employ thousands of people, strengthen local value chains and drive innovation.
Ms Chola further noted that the facility will help businesses grow, scale up operations and remain competitive in an evolving economic and global environment.
She also disclosed that at least 30 percent of the financing facility will be directed to women-owned and women-led enterprises.
Speaking at the same event, British International Investment Managing Director and Head of Africa, Christopher Chijiutomi, described Zambia as an important market for the United Kingdom’s development finance institution.
Mr Chijiutomi said the US$20 Million financing facility reflects his institution’s strong confidence in FNB Zambia as a forward-looking financial institution committed to inclusive lending and economic development.
