ZAMBIA NATIONAL COMMERCIAL BANK PLC
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Zambia National Commercial Bank Plc (Zanaco) was established in1969 to service the financial needs of the Zambian economy and it has since evolved into a leading bank nationwide with the largest branch-network in the country. In 2007 Rabobank of the Netherlands acquired a significant stake in the bank through its subsidiary Rabo Financial Institutions Development BV. The bank IPO'd in 2008. To date the bank is majority-owned by Zambians and thus considered 'citizen owned'. The relationship with Rabobank enables Zanaco to benefit from technical assistance and best practices in various areas of banking. On the back of Rabobank's strong expertise in the Agri-space, Zanaco aims to help build up this sector in Zambia, next to a strong focus on supporting Small-, Medium and Large companies (SMEs).
What is our funding objective?
The USD 60mln 5-year senior unsecured facility provided by FMO (USD 25mln), Proparco (USD 20mln) and DEG (USD 15mln) is purposed to be on-lent to private sector SMEs in Zambia.
Why do we fund this investment?
Supporting Zanaco through this loan is closely aligned with our strategy to drive private sector development in a Low Income Country, specifically in the field of Agriculture, rural development and SME's. This loan also answers to the scarcity of long term USD funding in Zambia. Finally FMO and the partners seek to add additional value by engaging in Capacity Development with the client.
- Region
- Africa
- Country
- Zambia
- Sector
- Financial Institutions
- Effective date
- 12/2/2015
- End date
- 10/20/2020
- Total FMO financing
- USD 25.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B