Business

DBZ pumps K826m in environmental projects

ESTHER MSETEKA, KELLY NJOMBO, Lusaka
THE Development Bank of Zambia (DBZ) has invested K826 million in environmental-friendly projects in the last five years.
The portfolios of investments consist of 86 projects, of which 56 have been completed and 30 are still under implementation.

DBZ managing director Jacob Lushinga said the completed projects gobbled K436 million and those under implementation stand at K270 million.
He said this at a media cocktail on Thursday at the ongoing 91st Agricultural and Commercial Show being held under the theme ‘Promoting a green economy’.
“In terms of sector distribution, the bank’s investment in the manufacturing sector stood at 19 percent, followed by tourism and hospitality at 17 percent and financial services were at 15 percent.
“Other sectors included construction at 11 percent, agriculture at 11 percent, agro-processing at 12 percent, other services at nine percent, energy at four percent, and education at one percent,” Mr Lushinga said.
Commenting on the theme, Mr Lushinga said the bank has played a significant role in promoting green business models and projects.
He said the bank is aware that green business models and projects require substantial amounts of capital, hence the more reason financial institutions should help drive the green economy transformation through various funding instruments.
Mr Lushinga assured the public on the bank’s commitment of providing finance to such projects as a way of promoting sustainable economic, environmental and social development.
He has, therefore, challenged other financial institutions to prioritise the financing for green business models and projects in Zambia.
“As financial institutions, we are well positioned to influence the model of development and we must do that before it is too late,” Mr Lushinga said.

 

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