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Projet_ZANACO
In Zambia, PROPARCO is supporting the activity of the country’s leading bank. This contribution is strengthening the local financing capacity and helping improve access to financial services, while consolidating the institution’s balance sheet.
Client presentation
Zanaco is Zambia’s main commercial bank with a total balance sheet in excess of USD 1bn. It is particularly active in the agricultural sector (23%). The bank was privatized in 2009. Rabo Development Bank owns over 45% of the bank (since 2007) and the Government of Zambia 25%.
Project description
Proparco’s credit line will support the development of Zanaco’s activity with SMEs and companies with incomes in USD or indexed on the dollar.
Project impact
This operation will increase the local financing capacity in a country where long-term foreign-currency resources are not well-developed. It will support the development of the local economic base in key sectors for the country’s development. It will also help improve access to financial services via its extensive network of branches. In addition, the financing will strengthen Zanaco’s balance sheet structure and contribute to strengthening Zambia’s banking system.
02/12/2015
Date of signature of the project
Zambia
Location
Financing tool
18 905 379 Euros
Amount of funding
Loan of USD 20 M
Financing details
ZAMBIA NATIONAL COMMERCIAL BANK LIMITED
Client
CES