Development Bank of Zambia


  • Type Direct (National)
  • Date of accreditation 01 Jul 2021

The Development Bank of Zambia (DBZ) is a national direct access entity headquartered in Zambia. Established in 1972 as a Development Finance Institution by an Act of Parliament, DBZ is a joint venture involving the Government of the Republic of Zambia, public sector financial institutions, local private sector entities, and foreign bilateral and multilateral institutions. At its inception, the Zambian Government and public sector financial Institutions held 90 percent of the shares as class 'A' shareholders, while the remaining 10 percent was held by class 'B' shareholders.

DBZ envisions itself as a leading institution in development finance within Zambia, aiming to shape the environment for access to finance for development. The institution focuses on providing innovative, tailor-made financing solutions, advisory, and technical support to local enterprises. In line with its mandate, DBZ mobilizes both domestic and foreign capital to make investments that stimulate economic growth, productivity, wealth creation, employment, and citizen economic empowerment. The bank has played a crucial role in supporting the Government of Zambia's economic development strategies, encompassing growth, wealth and job creation, poverty reduction, infrastructure development, and improved service delivery.

The enabling legislation outlines DBZ's mandate, including providing long, medium, and short-term finance, equity investments, technical assistance, advisory services, and assisting in obtaining and placing foreign investment. The bank is empowered to borrow funds, buy and sell securities, study and promote investment opportunities, and undertake all other matters incidental to or connected with its mandate.

Together with GCF, DBZ intends to propose projects such as: on-grid electricity generation: biomass combustion, geothermal power, wind energy, biomass wastewater, photovoltaic utility and waste landfilling; off-grid electricity generation: small-scale hydropower, solar photovoltaic energy, biomass gasification, biogas digester and small wind turbines; energy efficiency: energy management systems, household appliances, energy efficiency standards and demand side management.

Accreditation timeline

Accreditation term 1

31 Jan 2023 - 30 Jan 2028

Accreditation date

01 Jul 2021

AMA execution date

20 Dec 2022

AMA effectiveness

31 Jan 2023

Term end date

30 Jan 2028

Entity details

  • Size
    • Micro
    • Small
    • Medium
    • Large
  • Environmental and social risk category
    • Category C
    • Category B
    • Category A
    • Intermediation 3
    • Intermediation 2
    • Intermediation 1
  • Fiduciary standards
    • Basic
    • Project management
    • Grant award
    • On-lending/blending:
    • Loan
    • Equity
    • Guarantee
    • Blending



Mr. Musonda Mutale

Chief Investment Officer
Phone +260 950 000321
Phone +260 977 519707
Ms. Samantha Okpara

Investment Officer
Phone +260 977 768437
Phone +260 950 010168