Stanbic Bank Zambia SL (IFC-38700)

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
Proposed
Bank Risk Rating
FI
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
Jul 31, 2018
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
Stanbic Bank (Z) Ltd
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.
Ring Fence
  • Small & Medium Enterprises
A financial intermediary is a commercial bank or financial institution that receives funds from a development bank, sometimes for a specific lending purpose. A "ring fence" is another name for this specific purpose. These funds are then used for lending by the financial intermediary to client companies or individuals.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.00 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 Jul 10, 2018

Disclosed by Bank Jun 26, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

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.

Investment Description
Financial Intermediary
Financial Intermediary: A commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actor Relationship

There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).

The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.

The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.

Private Actors Description

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.      

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Abraaj Invest Mgmt Ltd Parent Company Agriculture and Forestry owns Libstar Operations (Pty) Ltd Client Agriculture and Forestry
AfriSam Consortium(Pty)Ltd Parent Company Construction owns AfriSam(South Africa)(Pty)Ltd Client Construction
Aspen Pharmacare Holdings Ltd Parent Company Education and Health owns Aspen Asia Pacific Pty Ltd Client Education and Health
Bain Capital LP Parent Company Industry and Trade owns Edgars Consolidated Stores Ltd Client Industry and Trade
Coca-Cola Co Parent Company Agriculture and Forestry owns Coca-Cola Beverages Africa Client Agriculture and Forestry
Distell Group Holdings Ltd Parent Company Agriculture and Forestry owns Distell Group Ltd Client Agriculture and Forestry
Genser Energy Ghana Parent Company Energy owns Genser Energy Ghana Additional Facility 2019 Client Energy
Kwande Capital Pty Ltd Parent Company Industry and Trade owns Nampak Products Ltd Client Industry and Trade
Nampak Ltd Parent Company Industry and Trade owns Nampak Products Ltd Client Industry and Trade
North South Power Parent Company Energy owns Shiroro Hydroelectric Power Plant (630MW) Rehabilitation Client Energy
Omnia Holdings Ltd Parent Company Industry and Trade owns Omnia Group Pty Ltd Client Industry and Trade
Oppenheimer Partners Ltd Parent Company Industry and Trade owns GZ Industries Ltd Client Industry and Trade
Pioneer Food Group Ltd Parent Company Agriculture and Forestry owns Pioneer Foods (Pty) Ltd Client Agriculture and Forestry
Standard Bank Investor Finance invests in Abraaj Invest Mgmt Ltd Parent Company Agriculture and Forestry
Standard Bank Investor Finance invests in AECI Ltd Client Industry and Trade
Standard Bank Investor Finance invests in AECI Ltd Parent Company Industry and Trade
Standard Bank Investor Finance invests in Afrimat Ltd Parent Company Construction
Standard Bank Investor Finance invests in Afrimat Ltd Client Construction
Standard Bank Investor Finance invests in AfriSam Consortium(Pty)Ltd Parent Company Construction
Standard Bank Investor Finance invests in AfriSam(South Africa)(Pty)Ltd Client Construction
Standard Bank Investor Finance invests in American Tower Corp Client Infrastructure
Standard Bank Investor Finance invests in American Tower Corp Parent Company Infrastructure
Standard Bank Investor Finance invests in AngloGold Ashanti Ltd Parent Company Mining
Standard Bank Investor Finance invests in Aspen Asia Pacific Pty Ltd Client Education and Health
Standard Bank Investor Finance invests in Aspen Finance Ltd Parent Company Industry and Trade
Standard Bank Investor Finance invests in Aspen Finance Ltd Client Industry and Trade
Standard Bank Investor Finance invests in Aspen Pharmacare Holdings Ltd Client Education and Health
Standard Bank Investor Finance invests in Aspen Pharmacare Holdings Ltd Parent Company Education and Health
Standard Bank Investor Finance invests in Bain Capital LP Parent Company Industry and Trade
Standard Bank Investor Finance invests in Bombardier Transp Finl Parent Company Construction
Standard Bank Investor Finance invests in Bombardier Transp Finl Client Construction
Standard Bank Investor Finance invests in British American Tobacco PLC Client Agriculture and Forestry
Standard Bank Investor Finance invests in British American Tobacco PLC Parent Company Agriculture and Forestry
Standard Bank Investor Finance invests in Coca-Cola Beverages Africa Client Agriculture and Forestry
Standard Bank Investor Finance invests in Coca-Cola Co Parent Company Agriculture and Forestry
Standard Bank Investor Finance invests in Consol Glass (Proprietary) Ltd Parent Company Construction
Standard Bank Investor Finance invests in Consol Glass (Proprietary) Ltd Client Construction
Standard Bank Investor Finance invests in Copperton Wind Farm Parent Company Energy
Standard Bank Investor Finance invests in Copperton Wind Farm Client Energy
Standard Bank Investor Finance invests in Distell Group Holdings Ltd Parent Company Agriculture and Forestry
Standard Bank Investor Finance invests in Distell Group Ltd Client Agriculture and Forestry
Standard Bank Investor Finance invests in Dyason's Klip 2 RF Pty Ltd Parent Company Energy
Standard Bank Investor Finance invests in Dyason's Klip 2 RF Pty Ltd Client Energy
Standard Bank Investor Finance invests in Dyasons Klip Rf Pty Ltd Client Energy
Standard Bank Investor Finance invests in Dyasons Klip Rf Pty Ltd Parent Company Energy
Standard Bank Investor Finance invests in Edgars Consolidated Stores Ltd Client Industry and Trade
Standard Bank Investor Finance invests in Enx Corp Ltd Client Construction
Standard Bank Investor Finance invests in Enx Corp Ltd Parent Company Construction
Standard Bank Investor Finance invests in Eskom Holdings SOC Ltd Parent Company Energy
Standard Bank Investor Finance invests in Eskom Holdings SOC Ltd Client Energy
Standard Bank Investor Finance invests in Genser Energy Ghana Parent Company Energy
Standard Bank Investor Finance invests in Genser Energy Ghana Additional Facility 2019 Client Energy
Standard Bank Investor Finance invests in Genser Energy Ghana Ltd Client Energy
Standard Bank Investor Finance invests in Genser Energy Ghana Ltd Parent Company Energy
Standard Bank Investor Finance invests in Ghana Cocoa Board(Ghana) Client Agriculture and Forestry
Standard Bank Investor Finance invests in Ghana Cocoa Board(Ghana) Parent Company Agriculture and Forestry
Standard Bank Investor Finance invests in Goscor Fin Pty Ltd Parent Company Construction
Standard Bank Investor Finance invests in Goscor Fin Pty Ltd Client Construction
Standard Bank Investor Finance invests in Gridliance West LLC Parent Company Energy
Standard Bank Investor Finance invests in Gridliance West LLC Client Energy
Standard Bank Investor Finance invests in Gruppo Invest Nigeria Ltd Client Industry and Trade
Standard Bank Investor Finance invests in Gruppo Invest Nigeria Ltd Parent Company Industry and Trade
Standard Bank Investor Finance invests in GZ Industries Ltd Client Industry and Trade
Standard Bank Investor Finance invests in GZI Manufacturing Ltd Client Industry and Trade
Standard Bank Investor Finance invests in GZI Manufacturing Ltd Parent Company Industry and Trade
Standard Bank Investor Finance invests in Ihs Cote Divoire Sa Client Infrastructure
Standard Bank Investor Finance invests in Ihs Cote Divoire Sa Parent Company Infrastructure
Standard Bank Investor Finance invests in Kwande Capital Pty Ltd Parent Company Industry and Trade
Standard Bank Investor Finance invests in Libstar Operations (Pty) Ltd Client Agriculture and Forestry
Standard Bank Investor Finance invests in Lucky Star Ltd Parent Company Agriculture and Forestry
Standard Bank Investor Finance invests in Lucky Star Ltd Client Agriculture and Forestry
Standard Bank Investor Finance invests in Mondelez International Inc Parent Company Agriculture and Forestry
Standard Bank Investor Finance invests in Mondelez International Inc Client Agriculture and Forestry
Standard Bank Investor Finance invests in Nampak Ltd Parent Company Industry and Trade
Standard Bank Investor Finance invests in Nampak Products Ltd Client Industry and Trade
Standard Bank Investor Finance invests in North South Power Parent Company Energy
Standard Bank Investor Finance invests in Omnia Group Pty Ltd Client Industry and Trade
Standard Bank Investor Finance invests in Omnia Holdings Ltd Parent Company Industry and Trade
Standard Bank Investor Finance invests in Oppenheimer Partners Ltd Parent Company Industry and Trade
Standard Bank Investor Finance invests in Pepkorfin Pty Ltd Client Industry and Trade
Standard Bank Investor Finance invests in Pepkorfin Pty Ltd Parent Company Industry and Trade
Standard Bank Investor Finance invests in Pioneer Food Group Ltd Parent Company Agriculture and Forestry
Standard Bank Investor Finance invests in Pioneer Foods (Pty) Ltd Client Agriculture and Forestry
Standard Bank Investor Finance invests in Premier Foods (Pty) Ltd Parent Company Agriculture and Forestry
Standard Bank Investor Finance invests in Premier Foods (Pty) Ltd Client Agriculture and Forestry
Standard Bank Investor Finance invests in Shiroro Hydroelectric Power Plant (630MW) Rehabilitation Client Energy
Standard Bank Investor Finance invests in Southey Holdings (Pty) Ltd Parent Company Construction
Standard Bank Investor Finance invests in Southey Holdings (Pty) Ltd Client Construction
Standard Bank Investor Finance invests in Truworths International Ltd Parent Company Industry and Trade
Standard Bank Investor Finance invests in Truworths Ltd Client Industry and Trade
Standard Bank Investor Finance invests in Unatrac Holding Ltd Parent Company Construction
Standard Bank Investor Finance invests in Unatrac Holding Ltd Client Construction
Standard Bank Investor Finance invests in Waco Africa Ltd Client Construction
Standard Bank Investor Finance invests in Waco International Ltd Parent Company Construction
Standard Bank Investor Finance invests in Zimbabwe Power Company Parent Company Energy
Standard Bank Investor Finance invests in Zimbabwe Power Company (ZPC) Power Plants Expansion and Rehabilitation Client Energy
Truworths International Ltd Parent Company Industry and Trade owns Truworths Ltd Client Industry and Trade
Waco International Ltd Parent Company Construction owns Waco Africa Ltd Client Construction
Zimbabwe Power Company Parent Company Energy owns Zimbabwe Power Company (ZPC) Power Plants Expansion and Rehabilitation Client Energy

Contact Information

Stanbic Bank Zambia Limited 
Mr. Leina Gabaraane 
Chief Executive Officer 
+260 971 28 8200 

P.O. Box 31955, Lusaka, Zambia 
Websitewww.stanbicbank.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/