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Stanbic Bank Zambia has extended a US$43 million working capital facility to United Capital Fertiliser (UCF), reaffirming its commitment to financing the country’s agricultural and industrial growth.
The financing forms part of a locally arranged US$250 million syndicated facility designed to boost fertiliser production in Zambia.
UCF, a subsidiary of the Wonderful Group of Companies, is positioning itself to become the largest fertiliser producer in Southern Africa.
Announcing the development in a statement, Stanbic Bank Head of Corporate and Investment Banking, Helen Lubamba, hailed the transaction as a milestone for the agriculture sector.
“We are delighted to have participated in this transaction, contributing a total of US$43 million in financing to United Capital Fertilizer,” she said.
The syndicated deal was led by ZANACO and involved several other institutions, including Indo-Zambia Bank, Access Bank, First National Bank, African Life Financial Services and Zambia Industrial and Commercial Bank. Stanbic’s contribution was the second largest, after ZANACO.
The facility was expected to benefit more than one million small-scale farmers by expanding access to affordable fertiliser, supporting food security, and advancing Sustainable Development Goal No. 2 on Zero Hunger.
Lubamba said the transaction highlights Stanbic’s strength in structuring and executing high-value syndicated deals.
“Securing the largest participation after the lead arranger demonstrates Stanbic Bank’s competitive edge and ability to mobilise substantial funding in complex syndicated transactions,” she added.
She further noted that the partnership with UCF and the Wonderful Group will not only secure food production but also drive job creation and wider economic growth.
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