UNDP, Stanbic Bank Partner to Drive Green Growth and Youth Empowerment in Zambia
The United Nations Development Programme (UNDP) Zambia and Stanbic Bank Zambia have signed a Memorandum of Understanding (MoU) aimed at strengthening collaboration in promoting inclusive green economic growth, youth empowerment, and sustainable development.
The agreement establishes a framework for cooperation between the two institutions, with a shared focus on supporting micro, small and medium enterprises (MSMEs), enhancing financial inclusion, and creating sustainable livelihood opportunities for women, young people, and persons living with disabilities.
Under the MoU, the partners will collaborate on several strategic initiatives, including the implementation of a Supplier Development Programme designed to build the capacity of local suppliers and MSMEs to participate more effectively in value chains.
The partnership will also prioritise youth empowerment through programmes that promote skills development, financial literacy, volunteerism, and improved access to economic opportunities.
In addition, the collaboration seeks to support women- and youth-led enterprises involved in cross-border trade by improving access to finance, information, and markets.
Both institutions will also explore innovative financing models to mobilise resources that support inclusive economic diversification and accelerate the achievement of the Sustainable Development Goals.
A key component of the agreement includes advancing innovation through initiatives such as University Innovation Pods at institutions including the University of Zambia and Copperbelt University, as well as the timbuktoo Mine Tech Hub. These platforms are expected to foster entrepreneurship, innovation, and job creation among young people.
Speaking at the signing, UNDP Zambia Resident Representative James Wakiaga said the partnership reflects a shared vision of fostering inclusive growth through sustainable and innovative solutions.
“By leveraging our combined expertise and resources, we can create meaningful impact and expand opportunities for those who need them most,” he said.
Stanbic Bank Zambia Chief Executive Mwindwa Siakalima reaffirmed the bank’s commitment to supporting entrepreneurship, financial inclusion, and youth employment, noting that MSMEs remain central to Zambia’s economic growth.
“Through this partnership, we will strengthen access to finance, markets, and capacity building so more enterprises can grow sustainably and create livelihoods across the country,” he said.
Mr Siakalima added that the collaboration aligns with the bank’s broader mission of driving Zambia’s economic development by expanding opportunities for young people, women, and cross-border traders.
The MoU will be implemented over an initial two-year period, with the possibility of renewal based on mutual agreement. Both parties have committed to regular consultations, knowledge sharing, and ensuring alignment with their respective mandates.
