The Zambia Association of Manufacturers (ZAM) has proudly announced its partnership with First National Bank (FNB) Zambia as the key collaborator for the inaugural Manufacturers Month, running from October 23rd to November 24th, 2023.
Under the theme “Catalysing Value Chains for Sustainable Growth: Leaving No One Behind,” the month-long series of events aims to showcase the manufacturing sector’s unique role in fostering backward and forward linkages.
Kabanda Lilanda, Head of Business and Commercial at FNB Zambia, expressed the bank’s commitment to enabling sustainable growth for businesses of all scales through robust initiatives.
FNB Zambia has pledged ZMW500,000 towards the Manufacturers Month to create linkages, provide information-sharing opportunities, and raise awareness about available finance solutions for SMEs and other businesses.
Lilanda highlighted FNB Zambia’s recent disbursement of approximately K200 million in loans to SMEs from July 2022 to September 2023.
The bank remains open to extending assistance to qualifying firms, offering various SME value propositions, including Scored Credit, Trade Facilities like Invoice Discounting, and financing for machinery, equipment, and other assets.
Muntanga Lindunda, CEO of ZAM, emphasized that the manufacturing sector faces challenges such as financial constraints, high production costs, unfair competition, and a lack of manufacturing skills.
The partnership between ZAM and FNB Zambia aims to foster synergy between the financial sector and the manufacturing industry, addressing these challenges and driving economic prosperity.
Activities planned for the Manufacturers Month include a donation visit to Chongwe District Hospital, a three-day Proudly Zambian Expo at East Park Mall from November 21st to 23rd, and the prestigious Manufacturers Gala and Awards Ceremony on November 24th.
The collaboration between ZAM and FNB Zambia extends beyond the Manufacturers Month. Planned activities include access to tailored financial solutions, knowledge-sharing sessions, capacity building for enhanced financial literacy within the manufacturing community, and the integration of cutting-edge financial technologies into manufacturing processes.
ZAM and FNB Zambia invite all stakeholders to register for the Manufacturers Month events to maximize the benefits and contributions to the manufacturing sector.
This information is contained in a joint statement issued by Sopani Muzumara, the proudly Zambian Campaign Coordinator at ZAM and Karen Gombo Adams, the Brand and Communications Manager at FNB Zambia.