Zambo rhymes with:
rambo, rambow, sambo, shambo, tambo, archambault, archambeault, bimbo, colombo, columbo, cumbo, dumbo, gumbo, gumbo-limbo, jumbo, lembo, limbo, mambo, mumbo, palombo, palumbo, pombo, rambo, rambow, sambo, shambo, stumbo, tambo, trumbo
Zambo sounds like:
zambia, zeinab, zemba, zenobia, zhambu, ziemba, zimbabwe, zombie, zuganov, zyuganov