The Bank of Zambia has said the country’s economic outlook for 2012 and beyond is bright. Governor Michael Gondwe said that the outlook is based on the robust domestic performance of the Agriculture Sector.
Dr. Gondwe said that growth in Mining, Construction, Manufacturing, Transport and Communication is also expected to contribute to the good performance of the economy.
He was speaking at the Chartered Institute of Management Accountants and the Institute of Directors in Zambia breakfast meeting in Lusaka on Friday.
And Dr. Gondwe urged Commercial Banks to comply with the increased minimum capital requirements before the December 31, deadline.
Dr. Gondwe said that there should be no excuse on the matter as this is one way of ensuring a strong financial sector.
In January this year the Central Bank increased the minimum capital requirements for local Banks from 12 to 104 billion kwacha.
And Commerce Minister, Bob Sichinga has said that it was expected that Zambia would drop 10 points on the World Bank Ease of Doing Business ranking.
Mr Sichinga said this was because of the change of government which required policy redirection and redrafting of legislations.
Mr Sichinga has however told ZNBC news that in 2013; Zambia’s ranking on the ease of doing business will improve to be in the top 50 best performing countries.
The Minister is disappointed that Zambia’s ranking dropped ten points but notes that this was a result of re-organisation following the change of government.
The World Bank announced that the Zambia ease of doing business had dropped from 84 to 94
ZNBC
best investment destination..
But need to stabilise the dollar/kwacha kaili. Â Sure K5300?
It is interesting the way Zambians think they always want to be among the other rather than the best..What Mr.Schinga was supposed to be fighting for is to make Zambia the best and easiest place to do business. But instead he wants it to be among the best 50 of which i guess he might be thinking at least number 49…very sad, very sad indeed.
another useless PF cadre at the centre stage. boom in agriculture’ mining and construction? my foot. who does it benefit. farmers have not been paid, mining companies pay less tax. the ordinary zambian in kalingalinga is suffering. we are not interested in those useless cosmetic pronouncements of ukwaconomics
Looks like we are headed into the right direction,keep working hard guys, I mean all of us involved in one way or another..cheers
“And Commerce Minister, Bob Sichinga has said that it was expected that Zambia would drop 10 points on the World Bank Ease of Doing Business ranking. …..This was bcoz of policy redirection and redrafting of legislations”
It is easy to predict what a dull person will say isn’t, supposedly to dull listeners!Â
Policy redirection and redrafting of legislation should make it easier for the “World Bank Ease of Doing Business ranking”, in particular if you are a developing country looking for FDI – NOT the other way round
:d
The world bank do not seem to agree with our man………i suppose they will have to drop the rating again next year for our man to see their point.
….as for now, its OSTRICH mode kaufela
Sichinga is a village idi.ot. It is the so called policy redirection and new legislation that has seen Zambia tumbling 10 places on the ease of doing business. Sichinga you do indeed have warped logic!