LocationsSIGNING OF A MEMORANDUM OF UNDERSTANDING BETWEEN THE UNDP AND STANBIC BANK
April 10, 2026
Stanbic Bank CEO, Mwindwa Siakalima, and Dr James Wakiaga PhD hold the signed MOU at an event in April 2026
Today, we are here to witness UNDP and Stanbic Bank Zambia reaffirm a strategic partnership that intentionally places enterprises, innovation, skills, and partnerships at the centre of national development. This moment marks more than the signing of a Memorandum of Understanding - it signals a shared vision and a deliberate commitment to shaping a more inclusive, resilient, and self-sustaining Zambian economy.
At the heart of this partnership lies a strong commitment to promoting local content as a key driver of economic transformation, particularly at a time of both national renewal and global uncertainty. As Zambia continues to consolidate macroeconomic stability following debt restructuring, rebuild investor confidence, and reposition itself within increasingly competitive global value chains, the question before us is no longer whether growth will come, but who will benefit from that growth, how resilient it will be, and how firmly it will be anchored within our local economy.
This collaboration reflects a clear understanding that in a rapidly evolving global landscape - shaped by geopolitical shifts, supply chain reconfigurations, and intensified competition for resources and talent - countries that fail to strengthen domestic productive capacity risk remaining exporters of value rather than creators of it.
This partnership is designed to move local content from policy to practice, from aspiration to implementation, and from compliance to competitiveness. It responds directly to Zambia’s development moment; where economic reform, public finance discipline, and private sector led growth must now translate into jobs, enterprise growth, and inclusive prosperity.
Today, Stanbic Bank Zambia and UNDP announce a strategic partnership in six areas of cooperation including the implementation of the Supplier Development Programme (SDP) which is a central instrument for advancing Local Content Promotion in Zambia. Through this partnership, the two institutions formally join forces with a strong and deliberate focus on small- and medium-sized enterprises operating in the mining and agribusiness sectors. These are not incidental choices. Mining remains Zambia’s primary foreign exchange earner at a time when global demand for copper, cobalt, and other critical minerals is being reshaped by the energy transition. Agribusiness, meanwhile, sits at the nexus of food security, climate resilience, rural livelihoods, and regional trade, particularly as global food systems experience increasing disruption.
Yet despite their centrality to Zambia’s economy, local SMEs particularly those lead by women and the youth - have historically remained peripheral actors within these value chains—constrained by limited access to capital, skills gaps, asset ownership challenges, and persistent asymmetries of power. Our joint approach is therefore clear: local SMEs must not merely supply value chains; they must co-own them, shape them, and grow them as long-term partners.
Critically, this partnership acknowledges that meaningful local content cannot be achieved without addressing the fundamentals of enterprise empowerment. Access to finance alone is insufficient. Ownership of productive assets strengthened governance structures, and the ability to build credible balance sheets are essential if Zambian enterprises are to compete sustainably with larger regional and global firms.
Together, UNDP and Stanbic Bank Zambia will work to ensure that local SMEs are not only financed, but fully capacitated—to acquire assets, retain ownership, professionalize operations, and negotiate contracts from positions of strength. In doing so, this partnership seeks to shift Zambian enterprises from survival to scalability, from informality to competitiveness, and from exclusion to enduring inclusion.
This partnership seeks to shift Zambian enterprises from survival to scalability, from informality to competitiveness, and from exclusion to enduring inclusion.Dr James Wakiaga, Resident Representative, UNDP Zambia
In full alignment with the Government of the Republic of Zambia’s Local Content agenda and specifically Statutory Instrument No. 68 of 2026, this partnership also makes a decisive investment in the national skills architecture required to deliver local content at scale. UNDP continues to contribute to building national implementation capacity by accrediting Zambian national consultants in the internationally recognized Supplier Development Methodology. This methodology has been proven globally to integrate local suppliers into complex and high value supply chains. By localizing these skills, Zambia has created a sustainable cadre of professionals capable of designing, implementing, and scaling Supplier Development Programmes across priority sectors - reducing dependency on external expertise and retaining knowledge within the country. This accreditation programme is now into Phase 2 with a pool of consultants drawn from the Copperbelt and Northwestern Provinces to be trained in next month in Kitwe, responding directly to the surge in demand for Supplier Development Programmes triggered by the enforcement of local content regulations.
Ladies and gentlemen
The future of local content must also be future ready. In the current global context defined by rapid technological change, artificial intelligence, and digitized production: competitiveness increasingly depends on innovation, digitization, and future proof skills. Countries that fail to invest in these capabilities risk being permanently left behind. Under this partnership, we are deliberate about investing in the youth to enhance youth skills, employability and employment by promoting initiatives such as volunteerism and internships.
It is within this context that UNDP, with the valued support of Stanbic Bank Zambia, is proud to support the establishment and launch of the Artificial Intelligence University Innovation Pod at the University of Zambia. This is not merely an investment in infrastructure, but a deliberate and strategic intervention to position Zambia at the forefront of the digital and AI-driven transformation shaping economies globally.
The AI UniPod is designed to build a critical pipeline of talent by equipping students, researchers, and entrepreneurs with advanced capabilities in artificial intelligence, data science, and emerging technologies. More importantly, it embeds these capabilities within real-world problem solving—enabling the development of locally relevant AI applications across sectors such as health, agriculture, mining, and public service delivery. In doing so, Zambia is not only preparing to participate in the global digital economy, but actively positioning itself to shape and lead within it. This initiative is a core pillar of the timbuktoo ecosystem in Zambia, complementing the Mukuba UniPod at the Copperbelt University and the MineTech Hub. Together, these platforms form an integrated innovation pipeline—from ideation and skills development, to incubation, acceleration, and scale—linking academia, industry, and capital. The AI UniPod plays a catalytic role by anchoring the country’s digital and computational capacity, which is essential for unlocking innovation across all sectors.
By embedding artificial intelligence within the broader national development agenda, this partnership advances Zambia’s ambitions under the 8th National Development Plan and the emerging AI Strategy. It ensures that innovation is not abstract, but directly contributes to productivity, competitiveness, and inclusive growth. Critically, it also strengthens the local content agenda - ensuring that Zambian talent and enterprises are not only consumers of technology, but creators of value in the industries of the future.
Building on this foundation of digital capability and innovation, it is important to recognize that local content is not only about production, it is also about national confidence, identity, and how Zambia positions itself in an increasingly competitive global economy.
UNDP is therefore pleased to partner with Stanbic Bank Zambia - leveraging on your position as Chairperson of the Bankers Association of Zambia - in supporting the rollout of Brand Zambia - a flagship national initiative launched by His Excellency the President and anchored in the national tagline, “Zambia Moves You.” In a world where capital, talent, and innovation are highly mobile, countries that do not actively shape their narrative risk being defined by others and, in doing so, risk missing out on critical opportunities for growth.
Brand Zambia is a strategic instrument to position Zambia as a regional hub for innovation, entrepreneurship, and investment. It connects directly to initiatives such as the AI UniPod, the Mukuba UniPod, and the MineTech Hub by ensuring that the innovations, enterprises, and capabilities emerging from these platforms are not only developed—but are also visible, competitive, and investable on the regional and global stage.
Through this partnership, UNDP and Stanbic Bank Zambia will support activation of Brand Zambia aligning enterprise development, investment promotion, tourism, and skills development within a coherent and forward-looking national narrative. This integrated approach strengthens the local content agenda by increasing demand for Zambian products and services, enhancing investor confidence in local enterprises, and signalling Zambia’s readiness to lead in key sectors of the future.
Ultimately, a strong and credible national brand is not just about visibility, it is about value creation. It positions Zambia as a trusted, innovative, and competitive partner, capable of attracting investment, nurturing entrepreneurship, and driving inclusive and sustainable growth at scale.
As we sign this Memorandum of Understanding today, UNDP and Stanbic Bank Zambia reaffirm a shared belief: that Zambia’s development must be built by Zambians, financed sustainably, powered by skills, and projected to the world with confidence. This partnership is our collective contribution to turning that belief into a lived reality.
In closing, let me reiterate that today’s signing is more than a formal agreement; it is a statement of intent and a signal of confidence; in Zambia’s people, in Zambia’s enterprise, and in Zambia’s future. At a time when global economic forces are reshaping supply chains and redefining competitiveness, this partnership asserts that Zambia will not stand at the margins of these shifts but will engage them on its own terms. Through decisive action, shared responsibility, and sustained implementation, UNDP and Stanbic Bank Zambia commit to delivering results that endure beyond this ceremony; results that translate policy into prosperity and opportunity into lasting impact. This is how transformation takes root: through partnerships that act, systems that work, and a collective resolve to ensure that Zambia’s growth story is inclusive, resilient, and unmistakably Zambian.
I thank you.
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