ZAMBIA National Commercial Bank (Zanaco) has pledged to continue supporting the growth of the mining sector in a bid to improve the country’s economy.
Speaking ahead of a mega international annual mining conference starting in Cape Town, South Africa tomorrow, Zanaco Chief Executive officer Mukwandi Chibesakunda pointed out that the home-grown bank believes that investing in African Mining Indaba is an opportunity for stakeholders to dialogue on opportunities, challenges and solutions to grow the mining sector across the continent.
Chibesakunda said with mining being the main driver of Zambia’s economy, Zanaco will continue to support the growth of the sector.
“The mining sector is the largest taxpayer and largest private sector employer and as Zanaco, we need to ensure that it plays this role effectively by giving it as much support as possible,” she said.
For the conference to be graced by South African President Cyril Ramaphosa and his Democratic Republic of Congo counterpart, Félix Tshisekedi, Zanaco has dispatched a high-power delegation comprising of the board and management.
The Zanaco delegation is led by board chairman Patrick Wanjelani.
This is according to a statement issued by Zanaco head of client solutions and marketing, corporate and communications Chanda Chime-Katongo.
The bank’s loan portfolio to the mining sector stands at US$ 74.1 million.
Zanaco has also collaborated with WEAC and Barrick Lumwana on the 10X accelerator to build capacity for SMEs providing goods and services to Lumwana and ZCCM-Investments Holdings (IH) to enhance value addition to the mining sector.
The Investing in African Mining Indaba is the largest mining investment event in Africa with a proven track record of bringing together Ministers, senior government representatives, mining Companies, mid and junior miners, investors, professional services as well as mining equipment providers and commercial banks.
Minister of Mines and Minerals Development, Paul Kabuswe is representing government at the conference.
Kalemba February 5, 2023
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