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HomeBusinessManufacturers, FNB team up for joint activities

Manufacturers, FNB team up for joint activities

By JOHN CHOLA

The Zambia Association of Manufacturers (ZAM) has announced FNB Zambia as the main partner in the implementation of the Inaugural Manufacturers Month that started running from October 23 to November 24, 2023.

A series of events in this Manufacturers Month have been called under the theme Catalyzing Value Chains for Sustainable Growth: Leaving No One Behind to demonstrate the backward and forward linkages that the manufacturing sector uniquely promotes.

ZAM Chief Executive Officer Muntanga Lindunda says “…the partnership between ZAM and FNB Zambia will foster synergy between the financial sector and the manufacturing industry, recognizing the pivotal role each entity plays in driving prosperity. ZAM is excited to partner with FNB Zambia to strengthen the ties between the financial and manufacturing sectors.”

ZAM will visit Chongwe District Hospital on November 17 and will host a three-day Proudly Zambian Expo at East Park Mall from November 21-23 and the Manufacturers Gala and Awards Ceremony.

The Manufacturers Month is the first of the many engagements that ZAM and FNB Zambia have planned in this partnership.

The first activity will be the Trade Facilitation Conference on November 23 enabling dialogue between the manufacturers and policymakers, financiers, and supply chain players around challenges and opportunities in trading in the SADC and COMESA regions.

Other activities from this partnership will facilitate access to tailored financial solutions for the manufacturers, knowledge sharing and capacity building to enhance financial literacy within the manufacturing community, integration of cutting-edge financial technologies into the manufacturing processes, streamlining transactions, optimising supply chains, and fostering a culture of innovation within the industry.

ZAM and FNB Zambia have called on all stakeholders who have not yet registered to participate in the Manufacturers Month.

Speaking on the strategic partnership with ZAM, FNB Zambia Head–Business and Commercial, Kabanda Lilanda says the development signifies the Bank’s commitment to enabling sustainable growth for businesses.

“At FNB Zambia, we are focused on being the bank of choice for businesses and we provide different solutions to help organisations start, run and grow. FNB Zambia has committed K500,000 towards the Manufacturers Month to ensure that we create linkages, provide opportunities for information sharing and build awareness on the finance solutions available for SMEs and other businesses,” Lilanda said.

Lindunda notes that the manufacturing sector continues to be faced with several challenges hindering the growth of the industry.

Financial constraints, high cost of production, unfair competition, and lack of manufacturing skills are among the major challenges facing the manufacturing industry.

“The partnership is founded on the shared belief that by working hand-in-hand, both sectors can unlock new avenues for innovation, the much-needed job creation, and overall economic advancement,” Lilanda added.

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