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ZANACO says it has provided US$247 million in financing to Zambia’s mining and energy sectors between 2023 and 2025 as the bank positions itself to support rising investment and growing copper production, Acting Chief Executive Kalengo Simukoko said.
Simukoko said the funding supported expansion across the extractives industry during a period of higher global copper demand. Zambia produced 890,346 metric tonnes of copper in 2025, its highest output on record.
“The bank’s contributions underscore its determination to strengthen the mining sector’s resilience, elevate local participation, and champion partnerships that drive inclusive progress,” he said.
Read more: Zambia Monitor set for full coverage as 2026 Mining Indaba opens in Cape Town
Announcing the figures ahead of the 2026 Investing in African Mining Indaba on Sunday, Simukoko said bank’s partnerships with mining companies were aimed at developing long-term local supply chains and increasing the participation of Zambian businesses in mining procurement.
He cited the Barrick Lumwana Supplier and Business Development Accelerator, which provided local entrepreneurs with access to finance, technical skills and procurement opportunities.
He also pointed to the bank’s involvement in the Kansanshi Mineral Link Programme, which offered suppliers financial tools needed to meet industry standards.
According to Simukoko, the initiatives have supported nearly 2,000 local enterprises, helping translate the government’s 20 percent local procurement policy into commercial opportunities for small and medium-sized businesses.
The bank is taking part in the 2026 Investing in African Mining Indaba in Cape Town, where its executives are expected to speak on panels focused on financing, local content and economic participation.
The Indaba will be held under the theme “Stronger Together: Progress Through Partnerships.”
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