Investor confidence in Zambia soars

  1. Posted on Monday 8 October 2012 - 08:39
    jumuka
    Image of jumuka
    Justin Kampamba, AfricaNews reporter in Pretoria, South Africa
    Zambia says the 10 % appreciation of the Kwacha against the dollar is an indication that the investor community still has confidence in the country's investment climate under the Patriotic front administration. Deputy Minister of Finance Miles Sampa says even the government decision to come up with a statutory instrument to ban the use of the dollar in the local transactions is meant to strengthen the Kwacha against the major foreign currencies.
    Sata
    Mr. Sampa has however noted the need for the government for the appreciation of the Kwacha to be monitored to prevent the currency from becoming too strong against the dollar.

    The minister adds that a very strong Kwacha would make Zambia’s exports expensive a situation he says would affect the performance of the local industries which export goods to other countries.

    Mr. Sampa was speaking during the launch of the National Strategy on Financial education for Zambia in Lusaka this morning.

    Mr. Sampa observed there is need for financial education to be promoted to enable the citizens acquire good financial management skills that will impact positively on the country’s economic development.

    Earlier Bank of Zambia deputy governor of operations Bwalya Ng’andu noted that access to financial services in the country still among the adult population stands at only 37.3% adding that there is need for more people to begin accessing such services.

    Dr. Ng’andu adds that there is financial literacy among the people of Zambia to be scaled up adding that financial sector development plan also seeks to improve among other things to develop a rural finance policy and strategy to increase access to financial services to the rural population.

    And minister of Education Dr. John Phiri observed that the Ministry of Education is also working on modalities that will ensure that financial education is incorporated into the country’s education system

Latest News

  1. Ailing Algerian president appears on TV13/06Algeria's ailing President Abdelaziz Bouteflika has made a rare television appearance from his hospital bed in France, following a stroke last…
  2. Nelson Mandela: South Africa welcomes…13/06South Africa's government is pleased that ex-President Nelson Mandela is responding well to treatment in hospital, it said in a statement.
  3. The mobile banking game-changer in Ethiopia13/06New regulations will bring m-banking to Ethiopian consumers, but limits on the companies involved and how transactions must be managed could slow…
  4. AfDB Governors Announce Bank’s Return to…13/06The Boards of Governors of the African Development Bank (AfDB) (http://www.afdb.org) and of the African Development Fund (ADF) announced the return o…
  5. Ghana ex-airport official Adelaquaye faces US …05/06The ex-security chief at Ghana's international airport has been charged in the US with conspiring to smuggle Afghan heroin to New York.
  6. Kenya: Free Maternity must reduce deaths.05/06Although Kenya has budgeted Sh8 billion for free maternity and prenatal care to mothers giving birth in public health institutions, the country must d…
  7. Uganda's Daily Monitor reopens after poli…30/05Uganda's Daily Monitor newspaper has reopened after being shut down by the authorities for more than a week.
  8. Angolan Independents Make One Million30/05Angola's private indigenous companies (homegrown independents) produced slightly over a million barrels of oil from mainly shallow water fields, …
  9. Boko Haram denies losing Nigeria battle30/05The Boko Haram armed group has claimed that a military offensive launched against it by the Nigerian military is failing.
  10. Kenya launches universal HPV vaccine access t…17/05As the world celebrates the Cervical Cancer Week, Kenya has taken a leap of faith by launching universal distribution of Human Papilloma Virus (HPV) v…
  11. Malawi Electoral body appeals for ethical…17/05The Malawi Electoral Commission has challenged the media to follow ethical standards in the coverage of the 2014 tripartite elections to avoid fueling…
  12. Amplats to cut 6,000 jobs in South Africa10/05Top global platinum producer Anglo American Platinum announced on Friday that it will cut 6,000 jobs at its South African operations, in a move that r…
  13. Kofi Annan: Africa plundered by secret mining…10/05Tax avoidance, secret mining deals and financial transfers are depriving Africa of the benefits of its resources boom, ex-UN chief Kofi Annan has…
  14. Bomb blasts rock Libyan city of Benghazi10/05A bomb has exploded outside the a police station in the Libya's eastern city of Benghazi, Reuters news agency reports.
  15. Kenya calls on UN to drop Kenyatta trials10/05Kenya has written to the UN Security Council seeking to scrap the international crimes against humanity trials for President Uhuru Kenyatta and his Vi…
News archive