Indo Zambia Bank is pleased to announce the signing of a Memorandum of Understanding (MoU) with the Dairy Association of Zambia (DAZ) for the provision of loan facilities to its members. Through this strategic partnership, the Bank will extend financing to eligible DAZ members under the terms outlined in the MoU.
This initiative marks a significant step in the Bank’s ongoing efforts to support Zambia’s agricultural sector by promoting financial inclusion and empowering small and medium enterprises within the dairy value chain. During the MoU signing ceremony, Managing Director, Mr. Brajesh Kumar Singh, took the opportunity to officially launch two new specialised bank products:
“Indo Dairy Production Finance Scheme is aimed at facilitating and maintaining the increase of milk production among smallholder dairy farmers by providing short-term financing to cover essential costs such as animal feeding and veterinary care. Indo Dairy Development Finance Scheme, is aimed at supporting the expansion and development of dairy farms by providing financing for farm infrastructure, the purchase of dairy cows, and transport assets.”– Mr. Brajesh Kumar Singh
In recent years the bank has partnered with private sector players to support activities and events aimed at promoting and enhancing the dairy value chain in Zambia, on separate occasion during the Zambia Dairy and Beverage Expo the bank through a representative emphasized it’s commitment to scaling industrialization solutions through tailored financing schemes.
At the event, Chief Executive Officer of the Dairy Association of Zambia, Mr. Victor Ng’andu, welcomed the partnership and emphasized the critical need for accessible financing within the dairy sector. He stated:
“Access to finance for members of the Dairy Association of Zambia has been a challenge, as most of our members are striving to improve their productivity – and that can only be done with capital. We thank Indo Zambia Bank for coming on board and opening their doors to support our members.” – Mr. Victor Ng’andu, Chief Executive Officer- Dairy Association of Zambia.
The bank signed a Memorandum of Understanding (MoU) with the Dairy Association of Zambia (DAZ) during a ceremony in Palabana to formalize the rollout of Indo Dairy Production Finance Scheme and the Indo Dairy Development Finance Scheme.
In recent years the bank has partnered and supported activities and events aimed at promoting and enhancing the dairy value chain in Zambia.
