FNB Zambia (IFC-36658)

Countries
  • Zambia
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 18, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
First National Bank Zambia Limited
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 11, 2017

Disclosed by Bank Oct 15, 2015


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Project Description
This project finances First National Bank Zambia Limited to support its long-term lending, including to small and medium-sized enterprise clients.
Investment Description
  • International Finance Corporation (IFC)
This project consists of a 5-year term senior loan to First National Bank Zambia Limited who commenced operations as a full service commercial bank in 2009 and provides a wide array of commercial banking services to corporate, commercial and individual clients in Zambia. First National Bank Zambia Limited is a fully-owned subsidiary of FirstRand Limited, a listed holding company traded on the Johannesburg Stock Exchange and the second largest banking and financial services group in South Africa and Sub-Saharan Africa. It provides banking, insurance and investment products and services to retail, commercial, corporate and public sector customers. Outside of South Africa, FirstRand Limited operates in numerous African countries, including Botswana, Namibia, Zambia, Mozambique, Tanzania, Ghana and Nigeria.
Contact Information
Llewellyn Foxcroft Head, Treasury First National Bank Zambia Limited, Plot 22768, Acacia Park Cnr Great East & Thabo Mbeki Roads Lusaka, Zambia +260 211 366 811 mailto:lfoxcroft@fnbzambia.co.zm ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/