First National Bank (FNB) Zambia has partnered with the North-Western Energy Corporation (NWEC) Limited to further enhance the construction, operation and distribution management of electricity in the non-mine areas of Lumwana, Kalumbila and Solwezi (Kabitaka) concession and surrounding areas.
Acting FNB Head of Business and Commercial Banking, Lubasi Katundu said the Bank was thrilled to support the financing of the NWEC’s community-uplifting projects based on the strength and viability of its vision for the North Western Province and in context of the current and growing demand for power supply and related services in the region.
Katundu added that being part of the US$20 million overall investment demonstrates FNB’s ability and ambition to enable its clients ‘vision for the future.
The company, whose project is now in its 13th year of operation, has supported the supply of power to over 4,000 households to date and has also enabled the connection of essential commercial entities such as banks, filling stations, schools and clinics that support the population in the area.
‘‘We believe that this venture serves as another clear example of FNB Zambia’s commitment to playing a pivotal part in driving growth and development by securing current and future infrastructure and local job creation demands in North-Western province and beyond,’’ said Katundu.
Speaking on the partnership, NWEC Limited Chairperson, Andrew Kamanga, said the organization is thrilled to have a banking partner that recognizes pressing topical challenges and is prepared to invest in impactful and workable initiatives to address them. The financing partnership will ensure the continuation and extension of power supply to nearly 10,000 households and businesses through to 2023.
