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.

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.

An extended list of private actors is available in a separate file. 

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 
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/