Zambia : FQM Financing Deal To Boost Zambian Suppliers – MWABA

The Association of Mine Suppliers and Contractors has welcomed First Quantum Minerals (FQM)’s initiative to support the growth of Zambian-owned companies in the mining sector.

Association President COSTA MWABA says an agreement between FQM and leading commercial banks will give local suppliers access to affordable financing, enabling them to expand their businesses and compete more effectively with foreign firms.

Last week, FQM signed a Memorandum of Understanding with ZANACO, First National Bank (FNB), ABSA, Stanbic and Inde Credit to develop and deliver financing solutions for Zambian-owned companies.

Mr. MWABA says the arrangement will allow participating banks to assess the risk of Zambian suppliers against FQM’s credit rating, which could help reduce borrowing costs and make financing more accessible.

He says the initiative will also enable local companies to grow by addressing challenges suppliers face in securing financing to fulfil orders.

FQM spent about 2 billion US dollars on goods and services last year, highlighting the potential market for Zambian-owned businesses within the mining supply chain.

Mr. MWABA says the financing arrangement will further help local suppliers and contractors meet the compliance requirements set by FQM.

He says increased participation of Zambian-owned companies in the mining value chain will contribute to job creation, increased tax revenues and improved skills development.

LEAVE A REPLY Cancel reply

Hot this week

Two men arrested for defiling mentally challenged girl August 10, 2026 0 Police in Chipata have arrested two men for allegedly... Sports

Kampamba backs Lwandamina for permanent Chipolopolo job August 10, 2026 0 Former Zambia midfield star Gift Kampamba has urged the... General News

VEEP Commissions K6.8 million Power Project August 10, 2026 0 Vice President Mutale Nalumango has commissioned the 13 kilometres... Feature Politics

President Hichilema pledges more development for Milenge. August 10, 2026 3 President Hakainde Hichilema has assured the people of Milenge... Feature Politics

Feira Constituency Receives Ballot Papers August 10, 2026 0 Feira Constituency in Luangwa District has received ballot papers...

Topics

Two men arrested for defiling mentally challenged girl 0 Police in Chipata have arrested two men for allegedly... Sports

Kampamba backs Lwandamina for permanent Chipolopolo job 0 Former Zambia midfield star Gift Kampamba has urged the... General News

VEEP Commissions K6.8 million Power Project 0 Vice President Mutale Nalumango has commissioned the 13 kilometres... Feature Politics

President Hichilema pledges more development for Milenge. 3 President Hakainde Hichilema has assured the people of Milenge... Feature Politics

Feira Constituency Receives Ballot Papers 0 Feira Constituency in Luangwa District has received ballot papers... Feature Politics

Luangwa Political Players Commended for Peaceful Campaigns 0  Luangwa District Commissioner Luke Chikani has commended political players... General News

ZYAFAC Urges Monitors to Remain Neutral 1 The Zambia Youths Association in the Fight Against Corruption... Headlines

HH, UPND favoured for first-round win, new analysis shows 14 President Hakainde Hichilema is favoured to retain the presidency...

Related Articles

Two men arrested for defiling mentally challenged girl

VEEP Commissions K6.8 million Power Project General News August 10, 2026

ZYAFAC Urges Monitors to Remain Neutral

Government launches wetlands Input distribution in Mpika

Hichilema urges Chembe voters to renew UPND mandate

Popular Categories