DLL expands microleasing program to Zambia

Wayne, August 23, 2017 - DLL announced plans to expand its microleasing program from Rwanda and Kenya to Zambia. The goal of the expansion is to increase access to finance in the country. Microleasing is a tool that enables entrepreneurs in emerging markets to gain access to low-cost assets that act as collateral and reduce risk, which in turn enhances the entrepreneur’s earnings while also stimulating economic growth.

DLL will conduct a study in October to determine feasibility of microleasing as a financial product for Zambian Micro Finance Institutions (MFIs). In order to gain feedback on its strategy, DLL met with the Embassy of Zambia in Washington, D.C. on August 1, 2017. The topics reviewed and developed during the meeting included DLL's understanding of the Zambia regulatory environment and the relevant stakeholders that need to be engaged.

Zambia’s Charge’ d’Affaires at the Embassy of Zambia in Washington D.C, Joseph Chilaizya, says Zambia has several development needs which DLL can support through the expansion of its microleas-ing program in the country.

Mr. Chilaizya said Zambian President Edgar Lungu’s call to investors in Zambia is to help the country add value to its products, which DLL could do by providing financing to small-scale businesses. He has since urged DLL to work with stakeholders in Zambia such as the Bank of Zambia, Zambia Develop-ment Agency, National Council for Construction, Citizen Economic Empowerment Commission and Zambia National Farmers Union, among others.

"We are grateful to the embassy team for providing us with excellent hospitality and guidance," said Chris Nagle, global account manager at DLL. "The guidance we received has helped us understand the regulatory, legal and commercial aspects needed to assist local financial institutions in Zambia. We are excited about this opportunity and look forward to our first exploratory visit."