Launch of AB Bank Zambia

Launch of AB Bank Zambia


After being granted the commercial banking license, AB Bank Zambia launched its operations to the public with the opening of its first branch in the Zambian capital Lusaka on 18 October 2011.

AB Bank is a start-up company providing retail financial services to micro, small and medium-sized entrepreneurs as well as to low income earners in Zambia. AB Bank Zambia was initiated by the Access Microfinance Holding Network. Rural Impulse Fund II (RIF II), managed by Incofin Investment Management, is one of the founding shareholders, together with FMO, IFC and KfW.

The bank has embarked on a mission to improve access to a broad range of financial services for the majority of Zambians and their businesses and to promote private enterprise growth and job creation. To this end, the bank will build-up a solid nationwide network by both opening new branches and setting up alternative distribution channels to serve the widely dispersed population, including mobile banking solutions as well as adapted products.

The first branch and the headquarters are both located near Cairo Road. The bank currently counts a total staff of 85 employees. In the meantime, clients have subscribed to the different savings products and the first loans have been disbursed. ABZ pursues a fast expansion process and is now looking forward to opening 2 new branches.

Through its investment by RIF II, Incofin Investment Management contributes to this promising new initiative, focusing on promoting financial inclusion in Zambia, which is currently very poorly developed, and on addressing the needs of the population. Incofin has taken up a Board seat and is contributing to a technical assistance facility that is financing the management services provided by LFS.