FQM and Stanbic Zambia Partner on Employee Financial Wellbeing
FQM and Stanbic Target Employee Financial Stress with Banking Partnership
First Quantum Minerals (FQM) is placing employee financial wellbeing at the centre of a new partnership with Stanbic Bank Zambia, combining access to banking services with financial education to help workers manage their money responsibly.
The two institutions have signed a memorandum of understanding covering employees at Kansanshi, FQM Trident and other parts of the company.
The arrangement will offer secured and unsecured lending facilities, alongside banking products intended to support employees’ personal financial needs.
For FQM, the initiative addresses a concern that extends beyond access to credit: the effect financial difficulties can have on employees’ concentration and performance at work.
FQM country representative Dr Godwin Beene said supporting employees’ financial welfare was consistent with the company’s commitment to putting people at the centre of its operations.
He explained that financially secure employees were better positioned to focus on their responsibilities, while money pressures could affect their wellbeing and attention in the workplace.
The partnership is also intended to give employees access to structured, formal lending facilities, reducing the need to seek financial assistance from inappropriate sources.
However, Beene emphasised that access to finance must be accompanied by financial literacy to help employees use credit responsibly.
Stanbic Bank Zambia Chief Executive Mwindwa Siakalima said the agreement would combine accessible banking services, competitive pricing and convenience with programmes designed to strengthen employees’ financial knowledge.
The bank will provide financial education through its Financial Literacy Academy, supporting employees in making informed decisions and managing their finances.
The agreement builds on an earlier engagement with FQM Trident in July, when financial fitness sessions reached more than 200 employees.
Siakalima said that experience demonstrated the value of combining financial services with practical financial education.
He also linked the partnership to the Government’s Grow Zambia Agenda, which identifies copper production as a driver of economic growth.
For the two institutions, the immediate focus is the workforce behind that industry: helping employees access relevant financial services while developing the knowledge to use them effectively.
The partnership brings employee welfare into the wider discussion about mining performance, with both organisations emphasising that access to credit and responsible money management should advance together.
