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Barclays Zambia spends US$5 billion on project finance

BARCLAYS Bank Zambia (BBZ) has in the last three years given out project finance worth over US$5 billion in a bid to support key economic drivers.
BBZ corporate banking director Banja Kayumba said that in its commitment to supporting key sectors of the economy, the bank arranged financing of more than US$8 million for the construction of Solwezi City Mall in North- Western Province, through its Corporate Banking proposition.
In a statement availed to the Daily Mail last week, Mrs Kayumba said the bank will continue to complement Government’s efforts in supporting key drivers of the economy by providing financing and support in the mining, energy, agriculture, manufacturing and public sectors.
“Barclays, in supporting the key sectors, contributing to economic growth, has arranged in excess of US$5 billion of financing in the last three years for our different clients,” she said.
Mrs Kayumba said the milestone confirms the bank’s aim of improving access to investment in infrastructure development and banking services through a wide distribution network.
“Barclays was the lead financier of the Solwezi City Mall. Financing the building of mall reiterates the bank’s commitment to adding value and supporting communities in areas where the bank operates. This is in line with our business philosophy of shared growth whereby we use our core assets and resources to grow and develop the societies where we operate.
“As society grows we prosper, and as society prospers we grow. Barclays is committed to supporting key economic sectors of the Zambian developmental projects. We will also continue to invest in technology to ensure that we provide our stakeholders with innovative banking solutions to meet the diverse requirements in the thriving Zambian market,” she said.

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