Zanaco & RP renew alliance for Financial Inclusion & Growth in Zambia

“This partnership represents a significant milestone for us, as it will offer invaluable technical support that will enhance our operational models for SMEs in agriculture and client segmentation, product innovation, cyber security, and access to networks. We are excited about the potential that this partnership holds for our Bank and for the communities and businesses that we serve. By leveraging Rabobank's knowledge and experience, we will be better equipped to meet the evolving needs of our customers and to drive sustainable economic growth in Zambia”

- Mukwandi Chibesakunda, CEO Zanaco -

Zanaco, a financial institution with a rich history, envisions itself as a leading, admired, preferred, and innovative universal transaction hub in Zambia. Founded in 1969 and initially stablished by the Government of the Republic of Zambia, its primary objective was to cater to the diverse financial needs of the region’s economy. Offering a comprehensive suite of transactional, lending, investment, and insurance products and services, Zanaco plays a pivotal role in fostering economic growth. In 2007, Zanaco underwent privatization, marking a significant chapter in its evolution as it continues to adapt in today’s financial environment.

As part of Rabo Partnerships’ strategy to provide access to Knowledge, Network and Innovation, the collaboration between Rabo Partnerships and Zanaco entails the following main pillars:

The core of this renewed partnership is a commitment to creating a lasting impact on the market. RP and Zanaco aim to fortify the financial F&A services landscape, particularly focusing on empowering small and medium enterprises (SMEs). By leveraging their combined expertise, the partnership seeks to drive economic growth, ultimately benefiting the broader rural community.

Recognizing the importance of a robust organizational framework, RP and Zanaco are dedicated to fortifying support functions within the bank. This involves streamlining processes, optimizing efficiency, and ensuring a resilient infrastructure. By doing so, the partners aspire to create an organizational structure that can withstand challenges and adapt to the evolving market needs.

Acknowledging the pivotal role of skilled professionals in the banking sector, this strategic alliance places a strong emphasis on training and capacity development. RP will work closely with Zanaco to implement programs aimed at upskilling and empowering the Zanaco’s workforce. This people-focused approach not only enhances individual capabilities but also contributes to the overall strength and sustainability of the organization.

“Rabo Partnerships takes pride in supporting its partners by providing access to the knowledge, network and financial solutions of Rabobank Group globally. Through this, we aim to contribute to improved financial inclusion, rural development and finance to the agricultural sectors in Zambia. It is a great honor to work together with Zanaco on these ambitions.”

-Joris Timmers, Project Director Rabo Partnerships-

In addition to the three key pillars, RP brings a wealth of resources to the table. The partnership grants Zanaco access to RP's extensive knowledge base, valuable networks, and cutting-edge innovations. This collaborative exchange aims to boost innovation, keeping the bank at the forefront of the dynamic financial landscape in Zambia.

As the partnership unfolds over the next three years, RP and Zanaco are poised to make significant strides in fostering financial inclusion, creating a resilient organizational structure, and nurturing a skilled workforce.