Washington, D.C., March 31th, 2020 –AB Bank Zambia became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
“40 percent of small and medium businesses worldwide struggle to get access to the credit and capital that they need to grow their enterprises. We are delighted to welcome AB Bank Zambia to our network of more than 180 members who are working to eliminate the finance gap for SMEs,” said Matthew Gamser, CEO of the Forum. `
AB Bank Zambia Ltd. (ABZ) is a commercial bank seeking to improve access to financial services, particularly amongst people in both urban and rural areas who have limited access to financial services with over 95,000 accounts. Their core clientele is MSME as well as general lower/middle-income groups in Zambia.
“AB Bank Zambia is the leading provider of MSME services in Zambia. By becoming a SME Finance Forum member, we would like to share our experiences with other MSME practitioners and establish partnerships with different stakeholders,“ said Cosmin Olteanu, Chief Executive Officer of AB Bank Zambia.
To see all SME Finance Forum members, please visit: https://www.smefinanceforum.org/members/member-list
About SME Finance Forum
The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative.
About AB Bank Zambia
AB Bank Zambia Ltd. (ABZ) is a commercial bank seeking to improve access to financial services, particularly amongst people in both urban and rural areas who have limited access to financial services. ABZ already has a well-established branch network in Lusaka and has extended a variety of financial services since inception in 2011, and currently handling over 95,000 accounts. Their core clientele is MSME as well as general lower/middle-income groups in Zambia.
Media Contact
Carina Carrasco
ccarrasco@worldbank.org
