AB Bank, ZDA sign MoU

THE Zambia Development Agency

AB BANK has signed a memorandum of understanding (MoU) with the Zambia Development Agency (ZDA) to provide working capital to 500 micro-small and medium enterprises (MSMEs) registered with the agency.

Bank chief executive officer Armando Sirolla said the MoU will allow AB Bank to provide business support and working capital facilities to MSMEs under the ZDA umbrella.

Mr Sirolla said at a media briefing on Monday that with a balance sheet of about K280 million, he is optimistic that the intervention will work.
“The bank was set up six years ago in 2011. We started from scratch to reach out to 15,000 borrowers and we also managed to reach out to more than 100,000 account holders on the..

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