The project involves IFC financing of up to ZMW 200 million (approximately US$20 million equivalent) to Stanbic Bank Zambia Limited, 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, as well as to the agribusiness sector.
Stanbic Zambia is a leading bank in Zambia with about 21% loan market share. In FY2017, the Bank had total assets of US$1.2 billion, net loans of US$460 million, customer deposits of US$837 million and equity of US$138 million. The Bank is a wholly-owned subsidiary of Standard Bank Group, Africa’s largest banking group with presence in 20 countries across Africa.
Stanbic Bank Zambia Limited
Mr. Leina Gabaraane
Chief Executive Officer
+260 971 28 8200
P.O. Box 31955, Lusaka, Zambia
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/