Partnerships critical for mining sector growth – Stanbic

By BUUMBA CHIMBULU

STANBIC Bank Chief Executive Officer Mwindwa Siakalima has emphasised that partnerships will be central to achieving sustainable growth in the country’s mining sector.
Mr Siakalima stressed that collaboration among all industry stakeholders is essential for the sector’s long-term success.
Mr Siakalima made the remarks during the Association of Zambian Mineral Exploration Companies (AZMEC) breakfast held on the side-lines of the 2026 Mining Indaba in Cape Town.
Reflecting on this year’s Mining Indaba theme, “Stronger Together: Progress Through Partnerships,” he noted that the message is timely, as Africa’s strength in mining depends heavily on cooperation.
He explained that meaningful partnerships must involve governments, mining firms, contractors, suppliers, service providers, financiers, and host communities.
The Indaba’s theme also closely matched AZMEC’s focus on “Zambia’s Mining Future: Strategic Partnerships for Exploration, Investment and Sustainable Growth.”
Mr Siakalima highlighted Stanbic Bank’s role in supporting the mining industry through tailored financing solutions for both greenfield and brownfield mining projects across the country.
As part of the Standard Bank Group – Africa’s largest bank by assets – Stanbic has played a significant role in strengthening major mining companies and the wider mining value chain.
“As a bank, it is important that we understand the mining sector through a financing lens, anticipate its needs and provide support for complex mining projects,” he said.
Beyond mining, Mr Siakalima pointed to the energy sector as another area where partnerships have proven critical.
He recalled that last year’s power challenges had widespread impacts on the economy, including mining operations and required a coordinated multi-sector response.
Stanbic, he said, contributed decisively by providing one of its largest financing packages worth US$71.5 million to support the landmark 100MW Chisamba Solar PV Project, which supplies electricity to First Quantum Minerals.
He also praised Government’s introduction of Statutory Instrument 68 of 2025 on Local Content Regulation, describing it as a positive step toward integrating local small and medium enterprises into the mining supply chain.
Mr Siakalima said Stanbic is ready to support local businesses so they can compete for larger contracts and deliver services to high standards.

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