Stanbic injects K1.4 billion in SMEs

OUTGOING Stanbic chief executive Charles Mudiwa says the bank has extended K1.4 billion through loans and advances in the last three years to support 10,000 small and medium enterprises (SMEs) in key growth sectors of the Zambian economy.

Mr Mudiwa is leaving Zambia at the end of the year to take up the role of chief executive for Stanbic Bank Kenya.
Commenting on the recognition of the bank, which has been conferred with three international awards this year, Mr Mudiwa said the development reflected a strong management, sound business model and strategy the bank had adopted.

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