Stanbic Bank and UNDP Launch Two-Year Partnership to Drive Youth Employment and AI Development in Zambia

Stanbic Bank and the UNDP have formalised a two-year partnership designed to expand economic opportunity for Zambia's youth through skills training, employment pathways, and volunteering initiatives aligned with real market demand.

A centrepiece of the collaboration is the establishment of an Artificial Intelligence Hub at the University of Zambia. Beyond technology infrastructure, the partnership will improve financial access for small and medium-sized enterprises (SMEs) through collateral-free loans and asset financing products tailored to businesses that have traditionally struggled to secure credit.

Stanbic CEO Mwindwa Siakalima said the initiative is designed to position young Zambians and institutions to participate meaningfully in a technology-driven economy, while keeping innovation grounded and accessible.

UNDP Resident Representative James Wakiaga said the timing is deliberate, arguing that Zambia's ongoing economic reforms and push for private-sector-led growth must translate into tangible jobs and enterprise expansion. He highlighted agribusiness and mining, the country's primary foreign exchange earner, as priority sectors, with the partnership directly supporting the Government's Local Content agenda.

Wakiaga added that integrating AI into national development planning advances Zambia's ambitions under the 8th National Development Plan and its emerging AI Strategy, linking technological innovation to productivity and inclusive economic growth.