FIRST NATIONAL BANK ZAMBIA LIMITED
Status: Completed investmentWhy disclosure?
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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
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.
What is our funding objective?
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.
Why do we fund this investment?
Trade finance is an important mean to promote and facilitate trade in- and between emerging markets. With African economies on the rise again, there is increasing demand for trade finance lines. Various recent studies have indicated a multi-billion trade finance gap annually in Africa alone as the international financial crisis saw many international banks pulling back from emerging markets. By supporting trade finance activities, FMO helps addressing the trade finance gap thereby increasing capacity to facilitate trade flows with- and within Africa.
What is the Environmental and Social categorization rationale?
In line with FMO’s E&S requirements for trade finance, underlying transactions comply with FMO’s E&S Exclusion List and are not illegal under the laws of their country of origin, or under international conventions or agreements
More investments
| Date | Total FMO financing |
|---|---|
| 9/6/2022 | USD 7.50 MLN |
- Region
- Africa
- Country
- Zambia
- Sector
- Financial Institutions
- Effective date
- 11/15/2018
- End date
- 5/4/2021
- Total FMO financing
- USD 10.00 MLN
- Funding
- FMO NV
-
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