Standard Chartered Bank says there is need for foreign investors to continue investing in Zambia because the global economic and financial crisis will only have a slight impact on the country’s economy.
Standard Chartered Bank acting Managing Director, Robinson Bairstow said since the global economic crisis would only have a slight impact on Zambia, there was need for investors to continue investing in the country which he said was an emerging economy.
He said investors should continue with their direct investment portfolios in Zambia despite the global crisis.
Mr. Bairstow further urged the Zambian government to address the challenges that the mining sector was experiencing.
He said the drop in copper prices and an increase in job loses in the mining sector would have a negative impact on the Zambian economy if left unattended to.
Mr. Bairstow, who was speaking at a press briefing in Lusaka today, urged the Zambian government to diversify in its economic sectors in order to reduce dependency on copper.
He said diversifying to other economic sectors would promote growth in the Zambian economy and help the country to address the challenges which were associated with the global economic and financial crisis.
And Standard Chartered Bank head of Financial Markets, Stanley Tamele disclosed that the bank had started working out modalities aimed at launching new products on the market to attract new customers.
Mr. Tamele also announced that Standard Chartered Bank will next week open a branch in Livingstone.