Zambia Economic Outlook and Investment Environment Positive, BoZ Says

zambia economi outlook 2016

The Governor of the Bank of Zambia (BoZ) Dr. Denny Kalyalya has recently commented that the country’s economic outlook is stable.

Dr. Kalyalya made the comment during the African Export-Import Bank (Afreximbank) 23rd Annual General Meetings held in Seychelles between 18th and 24th July 2016.

According to the Governor, a stable currency trading below ZMW/USD 10 and a decreasing inflation to 21.0% in June 2016 from a peak of 22.9% in February 2016 are signals of a positive investment environment.

In addition, the recent acquisition of Finance Bank of Zambia (FBZ) by Atlas Mara Limited (LSE:ATMA) supports the idea that there is investor confidence in the economy, Dr. Kalyalya stressed.

On this line, Cavmont Bank Managing Director Charles Carey, has also recently highlighted that Zambia counts with plenty of business opportunities waiting to be exploited due to stable copper prices.

An investor-friendly environment has been created in the copper industry and investors are looking forward to the next government for continuing with the current trend, Mr. Carey added.

The World Bank (WB) recently released the Zambia Mining Investment and Governance Review (MinGov) that further highlighted the attractiveness of the mining sector to investors.

Operational activities and the content of laws and regulations are the strongest topic within the mining value chain, according to the review.

Mining represented 12% of Zambia’s GDP in 2014, 70% of exports and 28% of the national revenue in the same year.

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