Zambia’s largest commercial bank, Zambia National Commercial Bank (Zanaco), has announced plans to issue the country’s first-ever sustainability bond, aimed at financing green and social projects that promote inclusive economic growth and environmental protection.
The Lusaka-based lender said the bond will target both local and international investors and will be listed on the Lusaka Securities Exchange once regulatory approvals are secured. According to Bloomberg, the proceeds will fund projects in renewable energy, affordable housing, sustainable agriculture, and women-led enterprises.
In a statement seen by Reuters, Zanaco Chief Executive Officer Mukwandi Chibesakunda described the bond as “a landmark initiative for Zambia’s financial market,” noting that it aligns with the country’s broader sustainable finance roadmap supported by the Ministry of Finance and the United Nations Development Programme (UNDP).
Analysts say the move positions Zanaco as a regional leader in green finance and could attract further interest from climate-focused investors. As reported by Business Insider Africa, the issuance is expected to set a precedent for other African banks exploring sustainable financing instruments amid growing demand for ESG-aligned investments.
