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| Norfund invests in Zambian bank |
On 1 December Norfund signed a $5 million funding agreement with BancABC in Lusaka.The overall objective of the fiye-year loan agreement is to allow BancABC Zambia to continue the expansion of the maturity and diversification of its product offering and consequently lower the cost of credit for the Zambian emerging population. Present at the signing were among others (picture above from the left) Dr Bwalya K E Ng’andu, Deputy Governor of Operations, Bank of Zambia; Mr. Moses Vera, Head of Finance, Microfin Africa Zambia Limited, Mr. Douglas Munatsi, CEO, BancABC Zambia; Dana Botha, Managing Director, BancABC Zambia; Deepak Malik, Investment Director, Norfund and Fred Pelser, Associate, Norfund. Read more in the press release here. |