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President Edgar Lungu has appealed to the private sector to partner with government in order to finance infrastructure development in the country. President Lungu said partnerships between government and the private sector can help create jobs and wealth, as well as cement national development. The Head of State said this today when he commissioned the K1.2 billion state of the art Edgar Chagwa Lungu Business Park in Kitwe on the Copperbelt Province. Construction of the Edgar Chagwa Lungu Mall was financed by The National Pension Scheme Authority (NAPSA) and has been built within schedule and cost. The business park consists of a hotel, conference facilities, shops, automotive centres, cinema and a gymnasium among other structures. President Lungu who described the business park as a great investment and national asset, has said that, he feels greatly honoured that the facility has been named after him especially while he is still alive. He said government will continue to create an enabling environment for local and foreign investments in the economy. He said government will continue to transform the country through the 7NDP blue print. And President Lungu has noted that government will continue to undertake business reforms in order to reduce the cost of doing business. He said there is need to scale up production capacities and business linkages to support micro and small businesses in the country. The Head of State has further urged NAPSA to offer small traders and businesses, trading places at the ECL Business Park to benefit from the development. He said government will continue to encourage parastatals and the private sector to pool resources to invest in productive sectors of the economy. President Lungu said he was happy that NAPSA has also played a role in financing the construction of the Chingola – Solwezi road. And NAPSA Board Chairperson Marian Munyinda has assured President Lungu that the authority will put to good use member funds in its investment ventures. Ms Munyinda disclosed that NAPSA has since grown its assets from K23 billion to K48 billion.

Lusaka, 23 October 2018: The Minister of Finance, Hon. Margaret Mwanakatwe, MP, has officially launched the Zambia Industrial Commercial Bank Limited (ZICB) at an event held in Lusaka today. Speaking at the event, Hon. Mwanakatwe stated that the launch of the new bank holds a lot of promise for Zambian entrepreneurs and the local business community. The Minister said that government has heard and is aware of the challenges that local entrepreneurs face in accessing financing that is structured for the primary purpose of stimulating the growth of SMEs and local businesses. Mrs. Mwanakatwe noted that according to the World Bank’s 2013 Enterprise Survey, the number one barrier to growth for firms in Zambia is access to credit with 27.5 percent of firms listing it as the most important barrier, followed at 22.5 percent by practices such as inadequate and poor record keeping and poor corporate governance of the informal sector. And commenting on the high collateral requirements by commercial banks, the Minister of Finance said: “Collateral requirements have generally focused on immovable property such as land and buildings, as financial services providers are generally reluctant to provide credit secured by movable property. Many SMEs do not own immovable property, thus presenting them with financing challenges. These challenges of lack of affordable and long-term access to financing, among others, have been cited by our SME’s as the major reason for their low participation in the major economic activities of our country. As government, we want to see enhanced growth of local businesses, and hence local productivity, because it is only this that will lead to sustainable wealth creation and hence poverty alleviation among our people. It is for this reason that Government recently enacted the Movable Property Security Interest Act (MPSI) to make the business environment attractive for lenders to accept movable property as collateral.” The Minister of Finance stated that the launch of Zambia Industrial Commercial Bank Limited is part of government’s commitment to partnering with the private sector in finding solutions to the challenges being faced by Zambians, particularly those in the SME sector. She stated that it is the expectation of government that the launch of Zambia Industrial Commercial Bank Limited will herald a new chapter in the banking sector in Zambia, and that Zambian local businesses will seize the opportunity presented by the opening of the new bank to grow their businesses and increase their contribution to the GDP of the country. And speaking at the same event, ZICB Board Chairman, Mr. Charles Sichangwa, stated that ZICB’s mandate is to play a pivotal role in the commercialisation and industrialisation of Zambian businesses by offering deliberate support to local SMEs and corporate clients for the purpose of enhancing their participation in Zambia’s economic activities. Mr Sichangwa further said: “Through our contribution, we see a future where an increasing number of the goods and services consumed in our country will be locally made or locally produced. This is a bold undertaking that we, as ZICB, cannot accomplish alone and will therefore require the support of various stakeholders, including State-owned enterprises, government statutory bodies and government project accounts.” ZICB Chief Executive Officer, Mr. Ignatius Mwanza, stated that the bank started operating on 1st August 2018 with two branches – one at Central Park in Lusaka, and the other in Kitwe at Mukuba Pension House, which will soon be re-located to the new ECL Mall. Mr. Mwanza stated that the demand by customers and other stakeholders to have the bank launched had been phenomenal, and that ZICB is now looking forward to being of service to both individual customers and business houses.

The Zambia Industrial Commercial Bank Limited(ZICB), a newly established local bank, has pledged to contribute to economic growth by supporting the local industry. ZICB opened doors to the public for business on August 1, 2018 through it is currently providing basic cash and account opening services. The bank is owned by the Industrial Development Corporation Limited (IDC), National Pension Scheme Authority (NAPSA), Madison Financial Services Plc and Workers Compensation Fund Control Board. ZICB Chief Executive Officer, Ignatius Mwanza, said it was on track to fully implement new core banking system by December 31, this year and would provide innovative banking solutions to customers. The primary mandate, he said, was to be the financial catalyst that would enable the commercialisation and industrialisation of local Small and Medium Enterprises and Corporate customers. He was speaking in an interview in Lusaka last week. Mr. Mwanza said over the past seven months, the team had literally build a whole new institution from the bottom-up with the implementation of a new core banking system. ‘’It has been a long process and we are glad to finally be at point where we can open our doors to the public,’’ he said. Mr. Mwanza said that the bank would introduce more capabilities and services over the next six weeks. He explained that the bank would then start a long journey to change the face of the Zambian banking sector for the benefit of customers and stakeholders. He said this would lead to meaningful participation of locally owned businesses in economic activities of the country for the purpose of job and wealth creation and ultimately poverty reduction. ‘’In line with the government’s agenda as outlined in the Seventh National Development Plan, ZICB, which in majority owned by IDC, believes that the development and growth of the Zambian economy was key to the creation and equitable distribution of wealth for benefit of the whole economy,’’ Mr. Mwanza said.

Zambia Industrial Commercial Bank (ZICB) has won the Best Corporate Social Responsibility (CSR) Award at the 2024 Zambia Institute of Public Relations and Communication (ZIPRC) Awards. The award, presented on March 21, 2025, in Livingstone, recognizes ZICB’s 1×3 Classroom Block Initiative at Nakabu Primary School in Mumbwa District, a project aimed at improving access to quality education for rural children. The initiative, which provided a safe and conducive learning environment for pupils, was acknowledged as a significant contribution to education and community development. With this recognition, ZICB reaffirms its commitment to corporate citizenship, sustainability, and social impact. The ZIPRC Awards celebrate excellence in public relations, communication, and CSR across industries in Zambia. Winning the Best CSR Project Award reinforces ZICB’s role as a responsible corporate entity working towards a better future for all Zambians. ZICB remains committed to supporting education, sustainability, and community development, ensuring that its CSR efforts continue to drive meaningful change. To learn more about our initiative, follow the link: https://youtu.be/KpIxsbZ1np8

Zambia Industrial Commercial Bank (ZICB) proudly took part in the official launch of the new series of banknotes and coins, hosted by the Bank of Zambia today at Mulungushi International Conference Centre in Lusaka. ZICB was represented by Board Chair Mr. Danny Luswili, CEO Mr. Ngenda Nyambe, and Corporate Affairs Manager Mr. Luke Njovu at this landmark event, which marks a significant step in strengthening Zambia’s currency. The Guest of Honour, Minister of Finance and National Planning, Hon. Dr. Situmbeko Musokotwane, MP, highlighted the importance of this development in enhancing security features, preserving national heritage, and promoting tourism through the currency’s unique designs. As part of the transition, ZICB will facilitate the exchange of old currency for the newly issued banknotes and coins. Customers are encouraged to visit any ZICB branch or call 7000 for more details. At ZICB, we remain committed to serving our customers and supporting national initiatives that drive financial security and economic growth.

The ZICB Board and management, led by Board Chair Mr. Danny Luswili, visited one of our valued clients, the Wonderful Group of Companies, to reinforce our partnership and explore new opportunities for growth on 26th March. During the visit, the team had the privilege of touring two of the group’s key manufacturing plants; United Capital Fertiliser and Marcopolo Tiles, gaining valuable insights into their operations and contributions to Zambia’s industrial sector. As a bank committed to empowering businesses, ZICB remains dedicated to supporting enterprises that drive economic growth and innovation.

ZICB continues to make strategic strides in the mining sector! Our Chairman Mr. Danny Luswili, CEO Mr. Ngenda Nyambe, and Chief Corporate Banking Officer, Mr. Misheck Mkokweza are representing the bank at the Investing in African Mining Indaba in Cape Town, the premier event for shaping the future of mining on the continent. This engagement underscores our commitment to fostering partnerships, exploring investment opportunities, and driving sustainable financial solutions for the industry. As Zambia’s leading indigenous bank, ZICB remains dedicated to supporting the growth of the mining sector, a key pillar of the nation’s economy. Our presence at the Indaba provides a platform to engage with industry leaders, investors, and policymakers on innovative financing solutions that will drive mining expansion, sustainability, and value creation for Zambia and Africa as a whole.

Published On – February 23 Yesterday marked the conclusion of the Ncwala Traditional Ceremony 2025, a vibrant five-day celebration of the rich cultural heritage of the Ngoni people in Eastern Province. The event, which commenced on February 18th, culminated in a grand ceremony attended by esteemed guests from across the region and beyond. The occasion was graced by His Excellency, President Hakainde Hichilema, as the Guest of Honour, alongside distinguished dignitaries from Eswatini, Mozambique, and South Africa. Representing Zambia Industrial Commercial Bank (ZICB) at this significant event was our CEO, Mr. Ngenda Nyambe and senior executives. This reaffirms our commitment to honouring Zambia’s cultural heritage and strengthening community ties. We extend our heartfelt gratitude to our valued customers, stakeholders, and partners in Eastern Province for the warm welcome and support. Your hospitality and engagement continue to inspire us as we work together to drive economic growth and financial inclusion. As a proud 100% Zambian-owned bank, ZICB remains dedicated to supporting traditions that foster national unity while contributing to sustainable economic development.

Zambia Industrial Commercial Bank (ZICB) has once again demonstrated its commitment to promoting local enterprise and supporting Zambian businesses by participating in the Proudly Zambian Campaign (PZC). At the prestigious awards ceremony held on 5th December 2024 at the Radisson Blu Hotel in Lusaka, ZICB’s Chief Risk Officer, Mr. Thulani Muchiya, proudly received the Proudly Zambian Campaign certificate from the Minister of Commerce, Trade and Industry, Hon. Chipoka Mulenga, MP. The Proudly Zambian Campaign, which is entering its fourth year under the theme, “Nurturing Our Roots: Driving Our Nation Forward,” celebrates organisations that champion the growth of Zambia’s economy by supporting local products, businesses, and initiatives. It also allows local establishments to use the Proudly Zambian logo on adverts, branded items and all other activities that promote local organisations. ZICB is proud to stand alongside other institutions championing Zambia’s growth, innovation, and economic independence.