DLL Financial Services Expands Micro-leasing Program To Zambia

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Photo: Joseph Chilaizya.jpg
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WASHINGTON DC- WEDNESDAY, August 9, 2017 - A global asset-based financial solutions provider, De Lage Landen (DLL) Financial Services, in collaboration with the Rabobank Foundation, is expanding its micro-leasing program from Rwanda and Kenya to Zambia.

DLL Global Account Manager Chris Nagle and Sustainability Officer Michael Rinaldi have disclosed the development of a feasibility study on micro-leasing in Zambia to the Embassy of Zambia in Washington D.C, United States of America.

DLL, a global vendor finance company with EUR 30 billion in assets, will introduce micro-leasing and increase access to financing in Zambian economic sectors such as agriculture, construction, transportation, healthcare, and technology.

Mr. Nagle says DLL seeks to empower 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.

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 micro-leasing program in the country.

Mr. Chilaizya said 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 Development Agency, National Council for Construction, Citizen Economic Empowerment Commission and Zambia National Farmers Union, among others.

Meanwhile, Mr. Rinaldi says DLL is preparing an exploratory visit to Zambia to study the opportunity of micro-leasing as a financial product for Zambian Micro Finance Institutions (MFIs).

He said the study will engage relevant stakeholders and will be carried out in October of this year in order to gain feedback on the strategy.

Mr. Nagle and Mr. Rinaldi further thanked the embassy team for providing the necessary guidance to understand the regulatory, legal and commercial aspects needed to assist local financial institutions in Zambia.

Founded in 1969 and headquartered in Eindhoven, The Netherlands, DLL is a wholly owned subsidiary of Rabobank Group. It partners with equipment manufacturers, dealers and distributors in more than 30 countries to support their distribution channels and help grow their businesses.

The organisation combines customer focus with deep industry knowledge to deliver sustainable solutions for the complete asset life cycle, including retail finance, commercial finance and used equipment finance.