Zambia to exceed GDP target

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STANDARD Chartered Bank managing director Mizinga Melu has said the country is poised to exceed the projected seven percent gross domestic product (GDP) growth by the end of the year following the economic boom recorded in agriculture, mining and infrastructure.

Mrs Melu said the country’s economic growth in the three sectors is a positive indicator in the financial markets.

She said the recent bumper harvest recorded in the agricultural sector is another good sign that Government policies are working.

She said this during the opening of a one-day training for corporate clients and regulators at Taj Pamodzi Hotel in Lusaka yesterday.

“Zambia’s economic performance is positive and as a bank, we are predicting that at the end of the year, the country will exceed seven percent GDP because the major sectors are doing fine,” she said.

She said the positive growth had seen a new class of middle income earners emerging and the bank was positioning itself to offer the best solutions to its clients.

Mrs Melu said the local currency is stable and the role of the bank is to protect the interests of its customers against any risks in the financial market.

“This positive outlook presents a significant opportunity for financial intermediaries like banks if they position themselves well in the market,” she said.

Mrs Melu warned that the global market is becoming unpredictable and sophisticated and the bank has to strive to lead the market in providing innovative solutions and services to its customers.

By DARLINGTON MWENDABAI

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