The Bank of Zambia has called on business entities and citizens to focus on opportunities that exist in the country amidst the economic challenges facing the country.
Bank of Zambia Governor Denny Kalyalya has also urged Barclays Bank Zambia and Absa Group to explore ways in which the Bank can assist in addressing some of the challenges facing the country such as load shedding.
Dr. Kalyalya said this during the groundbreaking ceremony for the Barclays Bank Zambia new Head office in Lusaka yesterday.
He said Barclays Bank is also expected to continue supporting SMEs in the country as the sector is key to sustainable development and economic growth.
Dr. Kalyalya said construction of the head office is a demonstration that the Bank is focused on possibilities and opportunities in the country.
And Barclays Bank Zambia Board Chairperson Chishala Kateka said the Bank will continue to support key sectors that support growth of the country’s economy even as it transitions into Absa.
Ms. Kateka has reiterated the Bank’s commitment to support the country’s development agenda.
Meanwhile Bank of Zambia (BOZ) Governor, Denny Kalyalya, has said that the central Bank is confident that the austerity measures announced by cabinet will be implemented.
Dr. Kalyalya said that the measures are important in ensuring that arrears are reduced, interest rates pushed downwards, adding that this would trigger growth in the economy.
Dr. Kalyalya was speaking in Kabwe during the Kabwe Chamber of Commerce and Industry (KCCI) organised business breakfast.
And Kabwe Chamber of Commerce and Industry Vice President, Thomas Muwowo, said the current financial environment is choking the small, medium and emerging enterprises in the country.
Mr. Muwowo said in as much as growth of the economy is backed by a thriving financial environment, it must not choke the growth of budding enterprises.
He said the revision of the policy rate has come at a great cost and detrimental to the business community countrywide.