By MAIMBOLWA MULIKELELA –
STANBIC Bank Zambia disbursed more than K20 billion to support the growth of the Small and Medium Enterprises (SMEs) in 2015.
Stanbic Bank Zambia chief executive Charles Mudiwa said the Bank had been instrumental in supporting the SME sector in Zambia because doing so would stimulate growth in the economy.
He said that they had provided funding of over K20 billion in the SME sector which was one of the critical sectors in the economy.
Mr Mudiwa said during the Chinese New Year dinner in Lusaka at the weekend that the bank had been the lead financers of the agric sector providing funding of more than K300 million in 2015.
“Some of the staff we have employed have been farmers giving the much needed hands on experience in the agriculture sector.
“As the bank rooted in Africa and Zambia’s number one Bank by assets, balance sheets and profits, we say Zambia is our home and we drive her growth,” he said.
Mr Mudiwa said the bank had been the major players in financing notable energy deals with Copperbelt Energy Corporation and ZESCO.
“Our latest deal was with ZESCO where we financed connection of the North Western Province to the national grid at a cost of US$163 million,” he said.
Mr Mudiwa said through the real estate development financing of Manda Hill, East park and soon to be opened Cosmopolitan mall in Lusaka.
On the Copperbelt, the bank financed the Mukuba, Kafubu and Jacaranda mall.
He said the strategic partnership with the Industrial and Commercial Bank of China, the world’s largest bank that has provided Stanbic bank with trade and deal flows between Africa and select emerging markets.
Mr Mudiwa said Stanbic Bank values and appreciates the Chinese Investment into Zambia which range from infrastructure to mining.
“Because of the value that the Bank attaches to the Chinese business, we have a dedicated Chinese speaking desk to better manage and understand the relationship,” Mr Mudiwa said.