Lusaka, Zambia – The United Nations Development Programme (UNDP) Zambia and Stanbic Bank Zambia Limited have signed a Memorandum of Understanding (MoU) to strengthen collaboration in promoting inclusive green economic growth, youth empowerment, and sustainable development in Zambia.

The partnership establishes a framework for cooperation between the United Nations Development Programme and Stanbic Bank Zambia, with a shared commitment to supporting micro, small and medium enterprises (MSMEs), enhancing financial inclusion, and creating decent livelihood opportunities for women, youth, and persons living with disabilities.

Under the MoU, the two institutions will collaborate across several strategic areas, including the implementation of the Supplier Development Programme (SDP), aimed at building the capacity of local suppliers and MSMEs to participate in value chains. The partnership will also focus on youth empowerment and employment through initiatives that promote skills development, financial literacy, volunteerism, and access to opportunities.

In addition, the collaboration will support women and youth-led enterprises engaged in cross-border trade by enhancing access to finance, information, and markets. The partnership will further explore innovative financing models to mobilize resources that drive inclusive economic diversification and accelerate the achievement of the Sustainable Development Goals (SDGs).

A key component of the MoU includes joint efforts in advancing innovation through initiatives such as University Innovation Pods (UniPods) at leading institutions, including the University of Zambia and Copperbelt University, as well as the timbuktoo MineTech Hub. These platforms are expected to nurture entrepreneurship, innovation, and job creation among young people.

Speaking on the Partnership, representatives from both institutions emphasized the importance of public-private collaboration in addressing development challenges and unlocking economic opportunities for underserved populations.

“This partnership reflects our shared vision of fostering inclusive growth and empowering communities through sustainable and innovative solutions,” said UNDP Zambia Resident Representative, Dr. James Wakiaga. “By leveraging our combined expertise and resources, we can create meaningful impact and expand opportunities for those who need them most.”

Stanbic Bank Zambia also reaffirmed its commitment to supporting initiatives that promote entrepreneurship, financial inclusion, and youth employment, noting that the partnership aligns with its broader mission of driving Zambia’s economic growth.

“Micro, small and medium enterprises remain central to Zambia’s economy. Through this partnership, we will strengthen access to finance, markets and capacity building so more enterprises can grow sustainably and create livelihoods across the country,” said Mwindwa Siakalima, Stanbic Bank’s Chief Executive.

He added: “This collaboration supports our purpose that Zambia is our home and we drive her growth. By expanding opportunities for young people, women and cross border traders, we are helping to build a more competitive and inclusive economy.”

The MoU will be implemented over an initial period of two years, with the possibility of renewal based on mutual agreement. Both parties have committed to maintaining regular consultations, sharing knowledge, and ensuring alignment with their respective mandates and values.

This collaboration underscores the critical role of partnerships in advancing sustainable development and creating resilient, inclusive economies in Zambia.

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For media inquiries, please contact:

Muma Bwalya, UNDP Programme Analyst, muma.bwalya@undp.org 

Mercy Khozi, UNDP Communications Analyst, mercy.khozi@undp.org

Eric Ngondo, Stanbic Bank Head of Marketing, PR & Brand,  ngondoe@stanbic.com