Musokotwane says they are indications that the global economic downturn was coming to an end.
Mr. Musokotwane says one of the indicators is the steady increase in the price Copper on the international market.
He was speaking in Lusaka yesterday when he officially opened a Standard Chartered Bank Zambia Excel branch centre at Intercontinental Hotel in Lusaka.
Mr. Musokotwane has since urged commercial banks to offer affordable lending rates to the public to cushion the impact of the global financial crisis.
He said such transactions are of mutual benefit to both the commercial banks and the general public because they help to commercial banks remain afloat while individuals would also grow their businesses.
Mr. Musokotwane pointed out that some commercial banks in America faced closure because they had stopped lending in the face of the global economic downturn.
He commended Standard Chartered Bank for striving to spread its presence in the country.
Mr. Musokotwane said the Bank’s move to introduce new products on the market was the surest way of improving the economy through the creation of jobs.
Speaking earlier, Standard Chartered Bank Zambia Chairperson, Micheal Mundashi said the opening of the centre demonstrates the bank’s quest for excellence of service to clients.
Mr. Mundashi added that opening the centre at a time when banks are faced with extraordinary challenges brought about the global recession is further testimony of the bank’s belief in long-term commitments.
He further said that as a leading bank, in Asia, Africa and the Middle East, Standard Chartered Bank has international expertise which enables it to continuously introduce new and innovative products and services that are uniquely designed for this market.
The Excel centre opened today by Standard Chartered Bank Zambia is the second excel centre this year bringing the total to six in the Lusaka.
ZANIS
Just like when u said zambia will never be affected by the global recession. infact you were right because the mess zambia is in is not cos of the global recession, this country has been in recession for a long time, from the KK days.
DR Musokotwane to you.
The economic meltdown is being done deliberately, at the very highest levels to achieve a well-planned outcome.
What outcome is that? Global rule over all banking, of course.
Interesting to see how African economists lag behind. German experts observed this as early as March 2009.
We’ll keep our eyez and mindz open for poeplez livelihoodz to follow suit and get better.
I will only acknowledge this when I start affording to pay for electricity, Varsity fees and a proper 3 meals a day without strain! Right now, “your” figures do not apply to me.
Tell that to RB so that he stops giving excuses of economic meltdown for his failure to deliver.
As long as Standard Bank has only 2 dysfunctional atms in Kitwe, i will never praise them for spreading their operations!
# 4, Nine Chale, you are spot on my man. You are very brilliant. Imagine the ignorance on the part of out minister. This thing has been said long time ago and now he seems just to be repeating the same. No credible infor….really
The minister should have categorically stated how that is being measured. Which indicators is he using?? Is it the ending of strikes?? Is it the havesting of maize, please minister be specific
Yawn… You and your itinerant boss, both unwitting hosts of trypomastigotes, are asleep at the wheel. We the people did not employ YOU for YOUR opinion on the state of the world economy. Bloomberg provides that service. We want YOU to tell us how YOU intend to help us get our people out of the clutches of poverty. In fact you may only attend private jamborees (such as this teller service for petite bourgeoisie) AFTER we recall you from your present deployment.
The Minister is very ignorant! Prime Minister of Japan has dissolved Parliament to hold fresh elections, why? The government needed to find practical ways of coming out of a recession! Plain Simple, what of a donor dependent country like Zambia? Where is the waning? Stop bull***ting. You have a lot of people who work for you, ask then to research on these issues before you puke nonsense.
#4 & 10 this global things has been seen by many eceonomist around the world people have had different views including those from the united states and those from the united kingdom. and now let me tell you what other things they said…the prices af metals are to go up for a particular time then at some point the prices will fall thats when they will be a genuine growth fot eh metal….this is only the begining….most of the western countries think the recession will end at about the end of next year others think even longer…the african economist also have a different view of things Most of the african countries have not been affected adversely it just poor management such as of Zambia…Then look at Dubai the world has been crying except them no recession its a difefrent economy..
Economic recession created huge unemployment rates around the world. I think the world economy is already on the road to recovery.
the Economic recession made a lot of jobless people in my own country. We could only hope that our economy becomes strong again
Our country was also hit hard by the Economic Recession. At least we are seeing some signs of economic recovery now. I hope that we could recover soon from this recession.
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