Initiative to support sustainability-focused businesses launched

A programme aimed at boosting the potential and impact of sustainability-focused businesses in Zambia has been launched by Zanaco Bank.

The bank says it has invested K3 million in its programme called the Zanaco Green Innovation Challenge.

Speaking at the launch on Friday, Zanaco Chief Executive Officer, Mukwandi Chibesakunda, said the challenge was expected to run for 18 months.

Chibesakunda said businesses would participate in a boot camp, receive mentorship, guidance on service, product design and development and business modelling.

She recalled that Zanaco last year embarked on a sustainability journey and instituted a sustainability committee and as a result, Zanaco sustainability framework was formulated.

She explained that the framework was formulated to foster long term sustainable value creation and also provide a comprehensive approach to integrating sustainability into Zanaco’s business model.

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“Our sustainability framework is guided by seven pillars, which are; environment and social risk human capital corporate real estate sustainable lending sustainable capital markets corporate social responsibility, public policy and lobbying integrated reporting the initiative is anchored on three development goals” she said.

Green Economy and Environment Minister, Collins Nzovu, said government was pleased to see that the bank had placed a strong emphasis on technology and innovation in the promotion of environmental sustainability.

“We live in a world where technology is advancing at an unprecedented pace, and therefore it is important that we harness this technology to build a more sustainable and resilient future,” he said.

Meanwhile, Water for Water (WfW) Zambia Manager, Services, Partnerships and Innovation, Sekayi Fundafunda, expressed optimism about its partnership with Zanaco to run the challenge.

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