FIRST NATIONAL BANK ZAMBIA LIMITED (FMO-55229)

Countries
  • Zambia
Geographic location 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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 15, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
FIRST NATIONAL BANK ZAMBIA LIMITED
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Ring Fence
  • Trade Finance
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Oct 15, 2021


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank provided information, FI Africa has extended a USD 10 million Trade Facility Limit to existing client FNBZ under the FMO Trade Enhancement Program to further support trade finance activities.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor Relationship
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

FI Africa has extended a USD 10 million Trade Facility Limit to existing client FNBZ under the FMO Trade Enhancement Program to further support trade finance activities.

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
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

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 provides services to business and individuals across Zambia. The bank has set a clear growth strategy based on a comprehensive offering of banking services and leveraging on FirstRand's client relationship in the region. FNB Zambia's business focus is primarily on local corporates, SME's and retail.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Acerinox SA Parent Company Mining owns Columbus Stainless(Pty)Ltd Client Mining
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
Beas Rovuma Energy Mozambique Parent Company Mining owns Area 1 Mozambique LNG Client Mining
Bharat Petroleum Corporation Parent Company Mining owns Area 1 Mozambique LNG Client Mining
Building Energy SpA Parent Company Energy owns Roggeveld Wind Farm Client Energy
China Harbour Engineering Company Parent Company Transport owns Lekki Deep Sea Port PPP Client Transport
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
Empresa Nacional de Hidrocarbonetos de Mocambique Parent Company Mining owns Area 1 Mozambique LNG Client Mining
Federal Republic of Nigeria Parent Company Mining owns Project Cheetah (Infill Client Mining
Federal Republic of Nigeria Parent Company Mining owns STOGG Eagle Funding Ltd Client Mining
First Quantum Minerals Ltd Parent Company Mining owns Kalumbila Minerals Ltd Client Mining
FirstRand Investor Finance invests in Acerinox SA Parent Company Mining
FirstRand Investor Finance invests in Acquisition of Stillwater Mining Client Mining
FirstRand Investor Finance invests in Afrimat Ltd Parent Company Construction
FirstRand Investor Finance invests in AfriSam Consortium(Pty)Ltd Parent Company Construction
FirstRand Investor Finance invests in AfriSam(South Africa)(Pty)Ltd Client Construction
FirstRand Investor Finance invests in ArcelorMittal South Africa Ltd Parent Company Mining
FirstRand Investor Finance invests in Area 1 Mozambique LNG Client Mining
FirstRand Investor Finance invests in Aspen Asia Pacific Pty Ltd Client Education and Health
FirstRand Investor Finance invests in Aspen Finance Ltd Parent Company Industry and Trade
FirstRand Investor Finance invests in Aspen Pharmacare Holdings Ltd Parent Company Education and Health
FirstRand Investor Finance invests in Assala Energy Holdings Ltd Client Mining
FirstRand Investor Finance invests in Bain Capital LP Parent Company Industry and Trade
FirstRand Investor Finance invests in Beas Rovuma Energy Mozambique Parent Company Mining
FirstRand Investor Finance invests in Beitbridge Border Post Upgrade PPP 2020 Client Transport
FirstRand Investor Finance invests in Bharat Petroleum Corporation Parent Company Mining
FirstRand Investor Finance invests in Bk Of Ind Ltd Parent Company Construction
FirstRand Investor Finance invests in Building Energy SpA Parent Company Energy
FirstRand Investor Finance invests in China Harbour Engineering Company Parent Company Transport
FirstRand Investor Finance invests in Coca-Cola Beverages Africa Client Agriculture and Forestry
FirstRand Investor Finance invests in Coca-Cola Co Parent Company Agriculture and Forestry
FirstRand Investor Finance invests in Columbus Stainless(Pty)Ltd Client Mining
FirstRand Investor Finance invests in Consol Glass (Proprietary) Ltd Parent Company Construction
FirstRand Investor Finance invests in De Beers Marine Namibia Pty Parent Company Mining
FirstRand Investor Finance invests in Distell Group Holdings Ltd Parent Company Agriculture and Forestry
FirstRand Investor Finance invests in Distell Group Ltd Client Agriculture and Forestry
FirstRand Investor Finance invests in EA Field New Wells Drilling Client Mining
FirstRand Investor Finance invests in Edgars Consolidated Stores Ltd Client Industry and Trade
FirstRand Investor Finance invests in Empresa Nacional de Hidrocarbonetos de Mocambique Parent Company Mining
FirstRand Investor Finance invests in Enx Corp Ltd Parent Company Construction
FirstRand Investor Finance invests in Eskom Holdings SOC Ltd Parent Company Energy
FirstRand Investor Finance invests in Federal Republic of Nigeria Parent Company Mining
FirstRand Investor Finance invests in First Quantum Minerals Ltd Parent Company Mining
FirstRand Investor Finance invests in Ghana Cocoa Board(Ghana) Parent Company Agriculture and Forestry
FirstRand Investor Finance invests in Glencore PLC Parent Company Mining
FirstRand Investor Finance invests in Growthpoint Properties Ltd Parent Company Infrastructure
FirstRand Investor Finance invests in Gunvor Group Ltd Parent Company Mining
FirstRand Investor Finance invests in Gunvor Singapore Pte Ltd Client Mining
FirstRand Investor Finance invests in GZ Industries Ltd Client Industry and Trade
FirstRand Investor Finance invests in GZI Manufacturing Ltd Parent Company Industry and Trade
FirstRand Investor Finance invests in Impala Canada Ltd Parent Company Mining
FirstRand Investor Finance invests in Impala Platinum Holdings Ltd Parent Company Mining
FirstRand Investor Finance invests in Kalumbila Minerals Ltd Client Mining
FirstRand Investor Finance invests in KAP Industrial Holdings Ltd Parent Company Transport
FirstRand Investor Finance invests in Kaxu Solar One Parent Company Energy
FirstRand Investor Finance invests in Kenmare Resources PLC Parent Company Mining
FirstRand Investor Finance invests in Kosmos Energy Ghana HC Client Mining
FirstRand Investor Finance invests in Kosmos Energy LLC Parent Company Mining
FirstRand Investor Finance invests in Kosmos Energy Ltd Parent Company Mining
FirstRand Investor Finance invests in KZN Sands Client Mining
FirstRand Investor Finance invests in Lagos State Government Parent Company Transport
FirstRand Investor Finance invests in Lekki Deep Sea Port PPP Client Transport
FirstRand Investor Finance invests in Lucky Star Ltd Parent Company Agriculture and Forestry
FirstRand Investor Finance invests in Main Street 333 (Pty) Ltd Parent Company Mining
FirstRand Investor Finance invests in Mitsui & Co Parent Company Mining
FirstRand Investor Finance invests in Mozambique LNG Parent Company Mining
FirstRand Investor Finance invests in Nacala Corredor Logistico Parent Company Transport
FirstRand Investor Finance invests in Nampak Ltd Parent Company Industry and Trade
FirstRand Investor Finance invests in Nampak Products Ltd Client Industry and Trade
FirstRand Investor Finance invests in Oil and Natural Gas Corporation Parent Company Mining
FirstRand Investor Finance invests in Omnia Group Pty Ltd Client Industry and Trade
FirstRand Investor Finance invests in Omnia Holdings Ltd Parent Company Industry and Trade
FirstRand Investor Finance invests in Oppenheimer Partners Ltd Parent Company Industry and Trade
FirstRand Investor Finance invests in Pepkorfin Pty Ltd Parent Company Industry and Trade
FirstRand Investor Finance invests in Petrobras Oil & Gas BV Client Mining
FirstRand Investor Finance invests in Petroleo Brasileiro SA Parent Company Mining
FirstRand Investor Finance invests in Pioneer Food Group Ltd Parent Company Agriculture and Forestry
FirstRand Investor Finance invests in Pioneer Foods (Pty) Ltd Client Agriculture and Forestry
FirstRand Investor Finance invests in Premier Foods (Pty) Ltd Parent Company Agriculture and Forestry
FirstRand Investor Finance invests in Project Cheetah (Infill Client Mining
FirstRand Investor Finance invests in PTT Public Company Parent Company Mining
FirstRand Investor Finance invests in Puma Energy Parent Company Mining
FirstRand Investor Finance invests in Puma Energy Holdings Pte Ltd Parent Company Mining
FirstRand Investor Finance invests in Puma Energy Refinancing 2020 Client Mining
FirstRand Investor Finance invests in Roggeveld Wind Farm Client Energy
FirstRand Investor Finance invests in Royal Dutch Shell plc Parent Company Mining
FirstRand Investor Finance invests in Seplat Petro Dvlp Co Ltd Parent Company Mining
FirstRand Investor Finance invests in Seplat Petroleum Development Co Ltd Parent Company Mining
FirstRand Investor Finance invests in Sibanye Gold Parent Company Mining
FirstRand Investor Finance invests in Sibanye Gold Ltd Parent Company Mining
FirstRand Investor Finance invests in Stillwater Mining Co Parent Company Mining
FirstRand Investor Finance invests in STOGG Eagle Funding Ltd Client Mining
FirstRand Investor Finance invests in The Bidvest Group Ltd Parent Company Transport
FirstRand Investor Finance invests in The Carlyle Group LP Parent Company Mining
FirstRand Investor Finance invests in Tolaram Parent Company Transport
FirstRand Investor Finance invests in total Parent Company Mining
FirstRand Investor Finance invests in Trafigura Holding Parent Company Mining
FirstRand Investor Finance invests in Trafigura Pte Ltd Client Mining
FirstRand Investor Finance invests in Unknown Parent Company Transport
FirstRand Investor Finance invests in Vitol Holding BV Parent Company Mining
FirstRand Investor Finance invests in Vitol SA Client Mining
Gunvor Group Ltd Parent Company Mining owns Gunvor Singapore Pte Ltd Client Mining
Kosmos Energy LLC Parent Company Mining owns Kosmos Energy Ghana HC Client Mining
Lagos State Government Parent Company Transport owns Lekki Deep Sea Port PPP Client Transport
Main Street 333 (Pty) Ltd Parent Company Mining owns KZN Sands Client Mining
Mitsui & Co Parent Company Mining owns Area 1 Mozambique LNG Client Mining
Nampak Ltd Parent Company Industry and Trade owns Nampak Products Ltd Client Industry and Trade
Oil and Natural Gas Corporation Parent Company Mining owns Area 1 Mozambique LNG Client Mining
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
Petroleo Brasileiro SA Parent Company Mining owns Petrobras Oil & Gas BV Client Mining
Pioneer Food Group Ltd Parent Company Agriculture and Forestry owns Pioneer Foods (Pty) Ltd Client Agriculture and Forestry
PTT Public Company Parent Company Mining owns Area 1 Mozambique LNG Client Mining
Puma Energy Parent Company Mining owns Puma Energy Refinancing 2020 Client Mining
Royal Dutch Shell plc Parent Company Mining owns EA Field New Wells Drilling Client Mining
Sibanye Gold Parent Company Mining owns Acquisition of Stillwater Mining Client Mining
The Carlyle Group LP Parent Company Mining owns Assala Energy Holdings Ltd Client Mining
Tolaram Parent Company Transport owns Lekki Deep Sea Port PPP Client Transport
total Parent Company Mining owns Area 1 Mozambique LNG Client Mining
Trafigura Holding Parent Company Mining owns Trafigura Pte Ltd Client Mining
Unknown Parent Company Transport owns Beitbridge Border Post Upgrade PPP 2020 Client Transport
Vitol Holding BV Parent Company Mining owns Vitol SA Client Mining

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

*Contact information not provided at the time of disclosure*

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@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 

How it works

How it works