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There are still three Namibian banks in the regional table and two from Botswana but Zambia and Malawi have both lost their single entries of last year: Zambia National Commercial Bank and National Bank of Malawi, while Standard Bank of Mozambique has also dropped out of the rankings.
Zambia National Commercial Bank arranged an $11m debt-for-equity swap for the country's biggest coffee firm, Northern Coffee Corporation.
He said that the government grant is under the supervision of the Zambia National Commercial Bank (ZANACO).
It has already made a bid for a stake in Zambia National Commercial Bank and is a bidder in the Afribank privatisation in Nigeria, in which the 34% stake relinquished by the liquidated core investor, Banque Internationale Pour l'Afrique Occidentale (BIAO), is up for sale.
The government is also committed to privatising the Zambia National Commercial Bank (Zanaco).
Kenya Commercial Bank, Zambia National Commercial Bank, Angola's Banco de Comercio e Industria (BCI), and Ethiopia's Construction & Business Bank, are all candidates for privatisation.
Initially the debate was over three parastatals - the Zambia Electricity Supply Corporation (ZESA - the monopoly power utility), the Zambia Telecommunications Company and the Zambia National Commercial Bank (ZNCB).
During the World Bank consultative group meeting with donors, held in Lusaka last year, the Zambian government made firm commitments to privatise the Zambia Electricity Supply Corporation (ZESCO), Zambia Telecommunication (ZAMTEL), Zambia National Oil Company (ZNOC), Indeni Oil Refinery and Zambia National Commercial Bank.