FNB Zambia Launch Business Growth Initiative for SME's

A business growth initiative has been launched by First National Bank (FNB) Zambia that will provide SME’s with support to help fuel economic diversification in the country.

Speaking at the launch of the initiative, FNB Zambia Chief Executive Officer Bydon Longwe noted that the support they are now able to offer as a bank was a result of being able to “capitalize on opportunities created by the government’s positive policy pronouncements.”

“At FNB, we bank over 13,000 SMEs and have over the years taken time to understand the challenges that this sector faces in order to provide intuitive solutions aimed at fuelling business growth.” he added.

The initiative sees the bank setting aside K5billion for lending to the private sector, K2 billion of which is targeted at the sectors encompassing SMEs. Additionally, Mr Longwe noted that “We will further be looking to partner with Government to actualise the Credit Guarantee Scheme announced in the budget so that we can fully support growth of an innovative diversified economy”.

Mr Longwe commented that the bank is committed to creating a better world through sustainable financial solutions that add to economic growth.

Photo: Lusaka Times