Friday, April 19, 2024

WECREATE 3rd Economic Policy Panel Discussion Zambia’s Financial Sector


Ambassador Schultz hosted his third Economic Policy Panel Discussion on January 28 on the topic of Zambia’s finance sector. He was joined on the panel by Bank of Zambia Deputy Governor Dr. Bwalya Ngandu, former Vice President Guy Scott, Kukula Capital Managing Director Tue Nyboe Anderson, and Stanbic Bank Managing Director Charles Mudiwa. Topics of discussion ranged from Zambia’s interest rates and exchange rate to economic diversification and capital markets. During his remarks, U.S. Ambassador Schultz said the purpose of the economic policy discussions was to think of what policy changes Zambia should consider in the light of the downturn in global commodity prices, which had worsened the country’s trade and budget deficits and led to a drop in GDP growth


  1. Ambassador Schultz has always been a great resource to the smart people of the Zambian Enterprise. Most of programs he has hosted have been pro-growth. Like his predecesor, he has a great grasp of what it would take to move our economy forward.

    Great partners like him in development are hard to find. Thank you as always Ambassador Schultz for your relentless efforts in trying to help lift the standard of living for the smart people of the Zambian Enterprise … great job on hosting yet another fruitful forum.

    God speed!

  2. If PF had allowed Guy Scott to lead, we would have had a better economy by now and not the one which Changwa and his cadres have destroyed.

  3. What a great initiative!!! Fantastic and excellent explanation from deputy Bank of Zambia governor. I love the explanation by the MD for Stanbic about the benefits of investing in manufacturing and how it makes business sense for banks to give loans to companies investing in manufacturing as a better credit than those in trading.

    Ambassador Schultz raise very important point about the fact that soon than later the economy of Zambia will improve just as the copper price will. However, I have some serious concerns about the proposal to have the government stay away from the economy and give much more space to the private sector. My reservations emanate from the absence of the economic shocks to with stand the external pressures vis a vi the decisions that private investors in the…

  4. I have never seen a group of Zambian or African diplomats going around in respective countries telling their gov’ts what to do. In fact they are lucky if they are invited or granted audience by these gov’ts.

    • In the final part of the video Ambassador Shultz DOES criticise the gov’ts policy directly for public sector being in control of most sectors. The question really is can the private sector( capitalist system they want), really have the peoples’ interest? In a country like Zambia where as ActionAid is warning will large corporations care about the growth of wealth of citizens? We have a good reason for our model, so the gov’t can keep a tight control to prevent majority wealth going into greedy Western influenced private sector. Really they want a capitalist agenda for Zambia. It’s all very well to go on about setting up Manufacturing industry, but to produce what goods Western gov’ts will allow to be imported into their countries. All those countries making the rounds…

    • It so happens that the US Embassy is in fact a territory of the United States. What they do there or who they invite there is solely their prerogative.

      Let’s start from there!

  5. All those countries making the rounds currently are tightly regulated in what they will allow in! USA especially, will not allow their control of USA cotton market to be dissipated. This is a thinly veiled pushing of their agendas to get a wider control of Zambia.

    Do they want to control Zambia. To suggest that they have rights to micro manage Zambia because they have bilateral agreements is shocking! Even bringing in Guy Scott with his useless contribution again near the elections is shocking.

  6. What are they going to do to raise the demand side of the Zambian economy? Which is the only side that really matters to ordinary people. As opposed to transnational corporations.

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