ZAMBIA’S ECONOMIC OUTLOOK POSITIVE – STANDARD CHARTERED

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Staff Writer

LUSAKA, ZAMBIA – STANDARD Chartered Bank Zambia CEO, Herman Kasekende, has said that Zambia’s economic outlook and sentiment is positive.

Kasekende pointed out that Zambia’s economic outlook remains positive adding that the local currency has gained ground recently, and there has been positive news in the last few weeks.

“Bloomberg announced that Zambia’s Eurobond is proving to be a great trade for investors; new mining investments into the country have also been announced. All of this should go a long way to improve sentiment.” “In addition, we are pleased that discussions between government and the mining houses in Zambia are headed in the right direction,” said Mr. Kasekende.

According to Mr. Kasekende, all this is positive news, which has certainly generated good sentiment and perception of the economy; and that this is encouraging for investment.

Standard Chartered Bank Zambia emerged as the most profitable commercial bank in Zambia in 2018. The bank, which released its full year financial results last week, recorded ZMW267.4m profit after tax, beating the competition for the highly vetted number one position in the market in terms of profitability.

Mr. Kasekende said that Zambia is among the top five markets for Standard Chartered in Africa.

He said that “Standard Chartered is in the business of prosperity – collaborating with our clients as they journey towards becoming more prosperous as individuals, for their businesses, and indeed for the large corporates we support.

We remain firmly committed as a key strategic partner for Zambia’s economic prosperity.” He added, “Zambia is one of the markets where we will continue to invest and enhance our capabilities, especially in the digital banking space.

In 2018, we announced the construction of our new state-of-the-art head office building. This demonstrates that even after 112 years of operating in Zambia, we are still Here for good.”

 

 

 

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