Standard Chartered Bank has indicated that Zambia’s long-term economic prospects remain bright, despite the current challenges being experienced in the economy.
Speaking at the British Chamber of Commerce Annual Event held at the Standard Chartered Bank Head Office recently, Sonny Zulu, CEO of Standard Chartered Bank Zambia, said, “From our private sector perspective, we remain confident that Zambia’s economic future remains bright. Government has done a lot of work around continuing the debt restructuring conversations and attracting investment into growth sectors of the economy such as renewable energy and mining. These efforts will eventually yield positive economic outcomes.”
Mr. Zulu added, “What is even more encouraging is that Zambia’s cooperating partners, such as the UK Government, are already working with UK private companies to attract investments into Zambia. Some US$2bn worth of investment deals are already in the pipeline. This is a significant investment pipeline by any measure and that is why we are confident that Zambia will come out of this challenging period and emerge stronger and resilient in the long term.”
Standard Chartered Bank is one of the founding members of the British Chamber of Commerce in Zambia, which officially launched in 2015. British Chamber of Commerce CEO, John Paton, thanked Standard Chartered Bank for their collaboration over the years and for their role in founding the Chamber. British High Commissioner to the UK, Mr. Nicholas Woolley graced the event as Guest of Honour.