Rabobank Partnerships and Zanaco lay the foundation for growth in Zambia
Zambia’s economy is becoming increasingly diverse. Small and medium-sized enterprises (SMEs) and agribusinesses play an increasingly important role in job creation and economic growth. At the same time, many entrepreneurs face ongoing challenges. Such as limited access to finance, inadequate infrastructure, complex regulations, and a shortage of skilled workers.
As Zambia’s largest bank, Zanaco works with many entrepreneurs. To serve more SMEs and agribusinesses, the bank needs a solid foundation, strong governance, and customer-focused banking capabilities. Rabo Partnerships (RP) and Zanaco have been working together since 2013. In 2025, they extended their partnership with a new three-year contract. In the coming years, they will work together on financial accessibility and economic growth in Zambia.
A valuable partnership
Zanaco and Rabo Partnerships aim to improve customer focus and make the bank work better. Together they concentrate on important areas such as how the bank operates, which target groups the bank serves, product development and agricultural expertise.
Knowledge exchange plays a central role. Experienced Rabobank specialists work with Zanaco teams, both in Zambia and online. Additionally, there are study tours and leadership development programs. Since 2013, twelve Zanaco professionals have participated in the Rabo Partnerships Future Leadership Program in the Netherlands.
The partnership is supported by Arise, an Africa-focused company that invests in financial services. Arise holds 45.6% of Zanaco’s shares. Two Arise non-executive directors also sit on Zanaco’s board of directors. This way, they contribute to the bank’s governance and long-term strategy.
Our role
Rabo Partnerships contributes banking expertise, organizational capabilities, and leadership development to the collaboration. Through advisory assignments and talent programs, the partnership focuses on strengthening Zanaco’s operational foundation. This enables the bank to expand and professionalize its services to SMEs and agribusiness clients.
Arise contributes long-term capital and governance support. This makes Zanaco financially stronger and more resilient to challenges. Together, the partners ensure that Zanaco operates more effectively and has sufficient capital to invest. This supports Zanaco’s role as a stable, customer-focused bank.
Driving economic growth
Zanaco serves 3.8 million customers. With total assets of approximately USD 2 billion (2025), it is Zambia’s largest bank. Lending to SMEs has grown significantly: from approximately ZMW 300 million in 2019 to ZMW 1.6 billion in 2024. This clearly demonstrates Zanaco’s growing role in financing entrepreneurs.
By improving core banking capabilities, governance and leadership, this partnership contributes to broader access to finance for SMEs and agricultural businesses. This supports job creation, food security, and economic diversification in Zambia. At the same time, Zanaco continues to develop as a resilient bank in a challenging and changing market.