US$10m Credit Line for Zambia
The Development Bank of Zambia (DBZ) have signed a US$ 10 million credit line facility from Development Bank of Southern Africa (DBSA). And DBSA has bought 10 per cent shares at US$ 670,000 to seat on DBZ board.
DBZ managing director, Bwalya N'gandu said the ten year credit line will support long term projects in various businesses in Zambia. This would contribute to the economy of the Zambia.
The credit line to DBZ was facilitated by Uni-Capital, a pan African financial advisor from Johannesburg, South Africa. Other shareholders DBSA has joined are Export-Import Bank (EIBI) of India, European Investment Bank (EIB) the Zambian government and its parastatals.
DBSA advisor and head of international finance, Solomon Asamoah said DBSA operation in the Southern African region has an investment of US$ 120 million in Zambia. And the economic areas the funds are invested in are energy, tourism (as safari), mining, telecommunication and financial sectors. But DBZ has spent a substantial chunk in Zambia safari enterprises.
DBZ managing director, Bwalya N'gandu said the ten year credit line will support long term projects in various businesses in Zambia. This would contribute to the economy of the Zambia.
The credit line to DBZ was facilitated by Uni-Capital, a pan African financial advisor from Johannesburg, South Africa. Other shareholders DBSA has joined are Export-Import Bank (EIBI) of India, European Investment Bank (EIB) the Zambian government and its parastatals.
DBSA advisor and head of international finance, Solomon Asamoah said DBSA operation in the Southern African region has an investment of US$ 120 million in Zambia. And the economic areas the funds are invested in are energy, tourism (as safari), mining, telecommunication and financial sectors. But DBZ has spent a substantial chunk in Zambia safari enterprises.
posted by Enestle Zimba @ 6:01 PM
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