Thursday, February 22, 2024

Zambia firmly remains in control of her economic affairs-Mwanakatwe


Minister of Finance MARGARET MWANAKATWE has said through implementation of the Economic Stabilisation and Growth Programme, Zambia firmly remains in control of her economic affairs.

She said although the economy has a fantastic opportunity to record higher growth rates as a result of the transformational reforms that are being implemented by the Government, the banking and financial services sector needs to pull together with those in the production and real sector in order for the desired 6 percent to 8 percent growth rates to be attained.

Mrs. Mwanakatwe appealed to the private sector to take advantage of the recent developmental oriented agreements signed with the Angolan Government to create alliances and working partnerships that will ensure that Zambian businesses dominate the Angolan market along the two countries common border.

She also requested for targeted financial support for youths adding that, “given empowerment funds, they are ready to take risks, operationalise their projects, and create employment for others thereby contributing to poverty reduction.”

The Minister also called on eligible organisations to plan properly and ensure that the issuance of e-vouchers for the 2018/2019 farming season is effective and efficient, further stating that, “as Government, we are committed to ensure that the process begins early as we do not want our people to experience the challenges that they faced in the last farming season.”

She was speaking, Friday, when Barclays Africa Deputy Managing Director PETER MATLARE paid a courtesy call on her at her office.

And Mr. Matlare said Zambia has a rich depository of capability which was why his organisation was keen to firm-up its partnership with the country in finding ways of closing the investment and infrastructure gaps.

“I have no doubt that we share the passion to improve and work together which is why we have a long-term commitment to this country and its people,” he said.

Mr. Matlare was accompanied to the Ministry by Barclays Bank Zambia Chairperson CHISHALA KATEKA and Barclay Bank Zambia MANAGING DIRECTOR MIZINGA MELU.

AND Mrs. Melu said Barclays Zambia has invested K35 million in technological upgrade. She added that her organisation has intensified its staff career development programme and would continue with the client relationship improvement initiatives.

Mrs. Melu also said Barclays Zambia had invested in a mobile bank disbursement programme in order to contribute to the attainment of the country’s financial inclusion objectives.

Barclays Africa Deputy Managing Director PETER MATLARE at the FInance Minister's office
Barclays Africa Deputy Managing Director PETER MATLARE at the FInance Minister’s office
Barclays Africa Deputy Managing Director PETER MATLARE at the FInance Minister's office
Barclays Africa Deputy Managing Director PETER MATLARE at the FInance Minister’s office



  1. Our two banker ladies, makes me proud!!

    Not amasaka yalya ati Laura Miti, no achievement at anything, what a shame to Petauke.

    • HOLLOW statements, slogans, chants won’t pay EURO-Bond or Chinese loans. Mutati used to make similar sentiments but the loans never went away. We need specifics on how Govt will raise $750-million, $1.5-Billion & $1.25-Billion plus 20-Billion for Chinese loans. 2022 is just around the corner.

      PF00Ls, the people of Muchinga & Eastern Province, who are the recipients of these funds, need to brain-storm & work hard to repay the loans instead of waiting for the people of North-Western Province.

  2. Contradicting herself, how can we be in control by signing our lives away to foreigners. She needs to be honest, growth has reduced under their watch and so much debts has been accumulated by them, which they are failing to review to us while they are heavily taxing us. That is one issue with PF, they want to paint a rosy picture but tomorrow they will be running to IMF begging for money

  3. So she does not expect Zambia to be in control of her economic affairs? Tell us how you are going to pay the two bonds coming up in 2021 and 2022 in lump sums. Mutati tried his fake economic concoctions to no avail. Why are interest rates so high? These bankers should be told right in their faces that they are not helping matters with high interest rates, and obnoxious charges. With the advent of toll gates driving will become a luxury, and transport costs will skyrocket. How-come the Magandes and Fundangas were able to control the economy? Speaks volumes of our current leaders lack of empathy and economic fortitude.

  4. I don’t trust this woman and what PF says; what they say and do are opposites; they have failed to control their cadres; how can they control the economy?

  5. Always making vague assurances only PF dingbats would believe…really laughable…yet she has booked another flight to go Washington soon and have another attempt at begging from IMF.

  6. If you keep on repeating the same song over and over again, perhaps we might eventually be compelled to believe you even though untrue.

  7. She may have to repeat it over and over again because of of Too much speculations By doing that what she is basically doing is to address consensus on the Zambian economy with respect to those speculations on Value of debt portfolio and the economic conditions in general

    It works and addresses so many perceived yet not there default risk on the part of her ministry She would do it daily weekly monthly quarterly and yearly if she so determines okay and right for the partners

    Its the normal way of running the Finances

Comments are closed.

Read more

Local News