National Insurance Company of Zambia Limited

completed

Summary Of Project Information (SPI)Project NameZambia-National Insurance Company (Zambia) LimitedRegionSub-Saharan AfricaSectorProject No008606Projected Board DateDecember 1, 1997Company NameNational Insurance Company (Zambia) Limited (NICOZAM)Technical Partner and/or Major Shareholders National Insurance Company of MalawiProject Cost Including proposed IFC investment US$2.0 million total project cost. It is proposed that IFCinvests up to US$300,000 equivalent for a 15% stake in NICOZAM).Location of project and Description of site ZambiaDescription of Company and Purpose of Project The project involves setting-up a general insurance company, National Insurance Company (Zambia) Limited (NICOZAM) in Zambia. NICOZAM will initially focus on the provision of general insurance and subsequently enter into life insurance. IFC’s involvement in the project will provide the necessary credibility to the technical partner, NICO, which despite its strong track record is not widely recognized outside MalawiEnvironmental Category and Issues This is a Category “C” project according to IFC’s Environmental Review Procedures.Date SPI sent to PIC      October 16, 1997“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384