Stanbic Bank in the last few years has been a key player in the financing of Shopping Malls in Zambia. The Bank has financed more than $135m for the construction of malls across Zambia. These malls include Mukuba, Kafubu, East Park, Manda Hill, Jacaranda and Cosmopolitan. These malls have changed lives for a lot of Zambian living in our communities as they have created employment during construction and post construction. Due to these malls, a number of children now have parents or guardians who are able to afford to educate them. A number of lives have been saved because now families are able to pay for health care for ailing family members.
On 4th October, 2016, the Bank announced a partnership with AVIC Limited. Speaking at an event at the Stanbic Head Office, the Bank Chief Executive said;
“Stanbic Bank is financed providing a credit line in the construction of the Edgar Chagwa Lungu Mall in Kitwe. The construction project is set to create thousands of jobs. AVIC International Zambia Limited has been operating in Zambia since 2010. The relationship with Stanbic Bank Zambia began in 2013 and has flourished since then to become the largest Client in our Chinese portfolio. What is also significant is that the AVIC Group is one of the largest Client for our Group’s key shareholder Industrial and Commercial Bank of China (‘ICBC’). The facility of $25m will support the Construction of Phase II of the Edgar Chagwa Lungu (‘ECL’) Shopping Mall at Freedom Park in Kitwe.
As a member of the Standard Bank Group, the largest African Bank by assets, Stanbic Bank Zambia remains committed to serving its clients. The Bank is the largest bank in Zambia by balance sheet. We have been in Zambia for close to 60 years and we will continue to support the growth of the Zambia