FIRST NATIONAL BANK ZAMBIA LIMITED (FMO-49922)

Countries
  • Zambia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
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, 2016
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
FNB Zambia
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 Amount (USD)
$ 7.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Apr 9, 2018


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Project Description

WHO IS OUR CLIENT

FNB Zambia is a registered commercial bank in Zambia, a full subsidiary of FNB which is a division of FirstRand Bank Limited. FNB Zambia was established in April 2009. It now operates in over 23 branches countrywide. It provides services to businesses and individuals across Zambia. The bank employs more than 750 staff and has set a clear growth strategy based on a comprehensive offering of banking services and leveraging on FirstRand's client relationships in the region. FNB Zambia's business focus is primarily local corporates, SME's and retail.

FUNDING OBJECTIVE

Through the provision of a Tier 2 Capital facility, FMO's funding ensures to further strengthen the Capital base of the bank, enabling it to pursue its growth strategy and more specifically to protect its Capital Adequacy against (adverse) movements in the USD/Kwacha exchange rate.

WHY WE FUND THIS PROJECT

Through our funding, FMO supports a subsidiary of longstanding FMO partner FirstRand Bank in soundly managing its Capital base whilst achieving growth in the loan book which is primarily productive and directed towards SME's in a Low Income Country, contributing to the Sustainable Development Goals.

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

FMO
South Africa
+27 11 507 2500
joburg-office@fmo.nl

 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.