New US$20 Million Fund to Strengthen Women-Led Businesses in Zambia
First National Bank Zambia has signed a US$20 million financing partnership with British International Investment, the United Kingdom’s development finance institution and impact investor, to expand funding for micro, small and medium-sized enterprises across the country.
The agreement, announced in Lusaka on 10 March 2026, will prioritise access to finance for women-owned and women-led businesses, with at least 30 per cent of the funding dedicated to supporting female entrepreneurs.
Speaking during the signing ceremony, Kapumpe Chola, Chief Executive Officer of First National Bank Zambia, said the partnership reflects the bank’s commitment to inclusive economic growth and strengthening Zambia’s private sector.
“This facility is a strong vote of confidence in FNB Zambia and in the potential of Zambian entrepreneurs. MSMEs are the lifeblood of our economy, and women-led 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,” Chola said.
The funding from British International Investment will increase FNB Zambia’s lending capacity to MSMEs nationwide. The investment also aligns with the bank’s Helping Everywoman Rise (H.E.R) Banking proposition, which provides tailored financial services, advisory support and capacity-building programmes for women entrepreneurs.
The investment qualifies under the 2X Challenge, a global initiative aimed at advancing gender equality and empowering women economically.
Rebecca Terzeon, the British High Commission in Zambia High Commissioner, said the partnership demonstrates the United Kingdom’s commitment to supporting inclusive economic development in Zambia.
“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 targeted and sustainable capital can deliver for communities and businesses,” she said.
Terzeon added that expanding access to finance for underserved entrepreneurs would help drive innovation, create employment and strengthen Zambia’s economic resilience.
Meanwhile, Chris Chijiutomi, Managing Director and Head of Africa at British International Investment, said the partnership builds on the institution’s long-standing support for Zambia’s private sector.
“British International Investment has been a trusted partner to Zambia and its business community for more than seven decades. We are 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.
Chijiutomi said the investment reflects confidence in Zambia’s entrepreneurs and will help unlock economic opportunities, strengthen local value chains and promote sustainable growth.
Through the collaboration, FNB Zambia expects to strengthen its gender-responsive banking services and improve access to finance for businesses that are traditionally underserved.
