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.
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.
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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.