First National Bank (FNB) Zambia has signed a US$20 Million financing partnership, with British International Investment (BII), UK’s Development Finance Institution and impact investor.
The US$20 million financing partnership aims to support the growth of Zambian micro, small and mediumsized enterprises (MSMEs), with a special focus on empowering womenowned and womenled businesses.
Under the agreement, the BII funding will be channeled toward expanding FNB Zambia’s lending capacity for MSMEs across the country, with a minimum of 30% specifically dedicated to women-owned or women-led enterprises.
Speaking at the signing ceremony in Lusaka, BII’s Managing Director and Head of Africa, Chris Chijiutomi highlighted the importance of supporting Zambia’s private sector and unlocking opportunities for equitable economic participation.
He noted that BII has been a trusted and steadfast partner to Zambia and its business community for over seven decades.
“So we are naturally delighted to partner with FNB Zambia to expand access to finance for small businesses, especially those led by women who continue to face structural barriers to funding,” he said.
Mr. Chijiutomi noted that the investment is a vote of confidence in Zambia and the abilities of its entrepreneurs and small business owners.
“By working together with the broader FNB Group, we will unlock more economic opportunities, strengthen local value chains, and promote sustainable growth across Africa,” he stated.
And British High Commissioner to Zambia, Rebecca Terzeon, said the UK welcomes the partnership between British International Investment and FNB Zambia, to unlock vital finance for women owned and women led SMEs across Zambia.
“Supporting inclusive economic growth is at the heart of the UK’s work in Zambia, and this investment demonstrates the real impact that targeted, sustainable capital can deliver for communities and businesses.”
“By expanding access to finance for entrepreneurs who are too often underserved, this initiative will help drive innovation, create jobs and strengthen Zambia’s economic resilience. We are proud to stand alongside BII and FNB in advancing opportunities for women and small businesses across the country,” she said.
And FNB Zambia Chief Executive Officer, Kapumpe Chola stated that the partnership reflects the Bank’s commitment to driving inclusive growth and strengthening the backbone of the Zambian economy.
“This facility is a strong vote of confidence in FNB Zambia and in the potential of Zambian entrepreneurs. Through this collaboration, FNB Zambia will further enhance its support systems for entrepreneurs, including genderresponsive banking and improved access to finance for businesses that are traditionally underserved,” Ms. Chola stated.
She noted that MSMEs are the lifeblood of Zambia’s economy, and womenled enterprises are among the most dynamic contributors to job creation and community resilience.
“Through this partnership with BII, we are accelerating our ability to deliver meaningful financial support where it matters most. This focus aligns strongly with FNB Zambia’s Helping Everywoman Rise (H.E.R) Banking proposition, which is designed to support and uplift women entrepreneurs through tailored financial solutions, advisory services and capacity building programmes,” Ms. Chola noted.
The investment is also qualified for the 2X Challenge, a global initiative co-founded by BII that supports gender equality and women’s economic empowerment. Currently, BII’s portfolio in Zambia includes more than 25 companies supported either directly or indirectly, with investments exceeding US$200 million in the local economy.
