Finance Minister Hon. Margaret Mwanakatwe (MP), yesterday held a successful meeting with Bank of America Merrill Lynch and other investors from Europe and America.
She described the meeting as ‘one of the most engaging economic management meetings’ she has had in the recent past.
The minister of Finance further praised the visiting foreign investment team of delegates on their professional approach and sound technical competence.
And Ministry of Finance spokes person Chileshe Kandeta also told Smart Eagles in a telephone conversation that the minister updated the delegation on the progression of Zambia’s fiscal reform program as well as the monetary policy thrust so far.
“I assured the investors delegation that the Government of Zambia will continue striking the right notes in the economic stabilisation and growth programme so that the nation grows and sustains both local and foreign investors interest in our economy” Mrs. Mwanakatwe said.
Early this year, the WSJ – Wall Street Journal reported that Bank of America’s Corp.’s wealth-management business grew its revenue by 7% to $4.99 billion from a year earlier beating against the odds from its Wall Street rivals during a wild fourth quarter. All this was amidst the violent stock-market swings at the end of 2018 which hurt other brokerage firms, diminishing client account balances and generating lower fees for personal-financial advice.(Beilfuss,2019).
The Zambian government in conjunction with the Ministry of Finance is making significant strides to enhance the most important inter-sectoral goal of improving the much needed conducive business environment for Foreign Direct Investment (FDI).