Stanbic Bank To Invest ZNW 65 Million On SMEs In Zambia

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Stanbic Bank plans to invest more than ZMW 65 million on more than 10,000 Small and Medium Enterprises (SMEs) in Zambia in 2015 to assist their growth.

The investment aims to provide suitable financial solutions, technology and infrastructure to the Small and Medium Enterprises (SMEs) in Zambia.

The bank has launched business coupon insurance, vehicle and asset finance (VAF) express and online banking to assist the SMEs in Zambia with better banking solutions .

According to Stanbic Bank chief executive officer Mr. Charles Mudiwa, looking at the contribution of SME’s towards a country’s economic growth and development, the private sector should empower the SME’s to diversify in different sectors of economy.

In the past 3 years the bank has already spent close to ZMW 60 million on 8,000 SME’s in Zambia.