Indo Zambia Bank partners with Dairy Association to boost access to Agricultural loans

-


Indo Zambia Bank Limited has signed a Memorandum of Understanding (MoU) with the Dairy Association of Zambia (DAZ) to provide loan facilities to its members, marking a significant step toward strengthening Zambia’s agricultural sector.

Through this strategic partnership, the Bank will extend Agriculture Scheme Loans to eligible members of the Association under the terms outlined in the MoU.

Speaking at the signing ceremony, Indo Zambia Bank Managing Director, Brajesh Kumar, has underscored the bank’s continued dedication to supporting Zambia’s agricultural growth and empowering small and medium enterprises (SMEs).

"This initiative highlights our commitment to supporting Zambia’s agricultural sector and empowering SMEs within the dairy value chain," Mr. Kumar said.

He has noted that Indo Zambia Bank, which has been operational for 41 years, maintains a strong credit portfolio exceeding K8 billion, and has consistently promoted economic activity across all sectors of the economy.

And Mr. Kumar has commended the Dairy Association of Zambia for its growth since its establishment in 2010, expanding to 74 cooperatives with over 7,000 members.

The association now produces an impressive 75 million litres of milk annually, traded formally.

“This achievement is truly commendable,” he said. “Our brand promise, 'Supporting and Developing Zambia,' is not just a slogan but is evidenced in our products, services, and corporate social initiatives such as this partnership."

He has further explained that Indo Zambia Bank’s longstanding efforts in supporting start-ups and growing MSMEs are visible in various initiatives that have empowered communities over the years.

“This MoU is a testimony of Indo Zambia Bank’s unwavering commitment to supporting economic activities at all levels of society. We believe that today's partnership will be a long-standing one, founded on shared values of empowerment, economic activity, and productivity,” Mr. Kumar stated.

He has added that the bank expects the Dairy Association to ensure good conduct among its members, enabling continued and possibly expanded financial support.

“Let us make the outstanding performance of this MoU and partnership a role model for Zambia,” Mr. Kumar concluded.

Meanwhile, Dairy Association of Zambia Chief Executive Officer, Victor Ng'andu, has welcomed the partnership, highlighting that access to finance has long been a major barrier for dairy farmers seeking to expand their operations.

“Access to finance for members of the Dairy Association of Zambia has been a challenge, as most of our members are striving to improve their productivity and that can only be done with capital. We thank Indo Zambia Bank for coming on board and opening their doors to support our members,” said Mr. Ng’andu.

He said the MoU would help ease access to capital for growth and modernization of dairy operations nationwide.

Ends.……..

Comments

Post a Comment

Popular posts from this blog

Professionals Unite to support Women and Children through New Foundation

-
Image
A new organization dedicated to addressing the vulnerabilities faced by women and children in communities has been launched. The Acquire to Share Foundation , led by professionals from various fields, aims to bridge the gap between the elite and the underprivileged by offering support in key areas such as education, healthcare, and economic empowerment. Founded in August 2024 and registered under the Registrar of Societies, the foundation was established with the mission of bringing hope to the hopeless, reducing vulnerabilities, and advocating for the rights of marginalized groups . Speaking at the launch, Acquire to Share Foundation Executive Director Victoria Yambani   has stated that the organization’s commitment to providing access to quality education and healthcare , supporting economic empowerment programs  for families of vulnerable women and children, and protecting them from exploitation and abuse . Mrs. Yambani  has  called on the government, stakeholders...
Read more

Zambia’s Agriculture Sector flourishes as SAFF Loans reach 8,715 farmers.

-
Image
The Ministry of Agriculture has revealed that the Sustainable Agriculture Financing Facility (SAFF) has made a significant impact on Zambia's farming community, providing loans to 8,715 farmers across the country. Through this initiative, farmers have gained access to crucial resources that enhance agricultural productivity and resilience, paving the way for a more sustainable and prosperous future in the sector. According to Balewa Zyuulu, the Principal Public Relations Officer for the Ministry of Agriculture, this initiative has helped drive substantial improvements in the farming sector. “ As of March 2025, a total of K755.2 million has been disbursed, with over K640.3 million already utilized by farmers. This funding has directly contributed to investments in farming activities, resulting in greater efficiency and productivity,” Mr. Zyuulu explained. He said SAFF is a cornerstone of the Comprehensive Agricultural Transformation Support Programme (CATSP), a government-led ef...
Read more

Sinazongwe MP endorses HH for 2026, offers to Lead Campaign

-
Image
United Party for National Development (UPND) Sinazongwe Member of Parliament, Gift Sialubalo, has endorsed President Hakainde Hichilema as the preferred candidate for the party in the 2026 general elections. Furthermore, Mr. Sialubalo has committed to remaining as President Hichilema’s campaign manager for the upcoming election cycle. In his endorsement,  Mr.   Sialubalo has emphasized that the President has fulfilled nearly all of his campaign promises in Sinazongwe, making a compelling case for his continued leadership. He has highlighted the transformative changes in the constituency, particularly in the rural areas where development was once scarce. "Sinazongwe has witnessed significant change, especially in rural parts where basic infrastructure such as maternity annexes and water systems were unheard of. The President’s leadership has brought these projects to life," Mr. Sialubalo noted. He has also pointed out major infrastructure developments, such as the ongoing work...
Read more