Bank of Zambia deputy governor Austin Mwape says the recent B sovereign rating and the lower middle income status attained by Zambia are an indication that the country’s economy is performing well.
Dr. Mwape says the B rating and reclassification as a lower middle income country therefore requires the central bank and government to continue enhancing the financial system to ensure that it is robust and reaches the unbanked resources.
The deputy governor also notes that the central bank is committed to reducing cash circulating in the economy in order to maintain low inflation rates.
Dr.Mwape was speaking when he officiated at the Airtel money product launch in Lusaka this morning.
Under this service Airtel customers will be able to carry out cash related transactions on their mobile phones which among them include money transfer services as well as purchase of electricity units from ZESCO limited.
At the same occasion, Airtel managing director Fayaz King said the product is meant to satisfy customer needs adding that the Airtel money will be simple to use and secure.
Mr. King said the service will be accessible everywhere provided there is network coverage.
At the same occasion Citibank managing director Joyce Wainaina commended Airtel for coming up with a product that will also cater for the lowest income earners who have limited access to formal financial services.
Mrs. Wainaina adds that Citibank is happy to have partnered with Airtel because mobile payments will contribute to the growth of the financial sector in the country.
QFM
Has anybody ever wondered why all the senior directors at Bank of Zambia are Bemba???
MMD have destroyed the financial sector by failing to hold accountability of all GRZ funds.
Where are the extra ordinary budgets for the roads built after parliament was dissolved?
How can Kunda demand graders work before Sept 20 if they have not worked to contracts?
MMD show corruption daily so vote them out this week.
The country will move forward faster without Rupiah and his thieves in power.
#2 SENIOR CITIZEN – save us your rant, sir. We are wise enough to see that if we vote MMD out we will have no alternative and that will be the begining of the spliting up of Zambia. There is no way Sata can hold together a country after the tribal diatribe he has been issuing throughout since independence which he actually worked so hard to curtail by working with the colonialists. MMD chabe! RB nafuti nafuti!
3.
People like you will never understand the needs of 80% of Zambians living in poverty.
Classifications mean nothing to the people who do not have constant incomes.
Living from day to day is what most Zambians have to do to survive.
This is a disgrace on the performance of MMD over the years they had control of power over Zambian.
A total waste of potential by the controlling party.
Is this a good standard to be proud of?
Only thieves can look at MMD having used its power for the good of Zambians.
MMD are thieves and have destroyed the country instead of unifying it and creating wealth for all.
Tell your madness to the 80% living without basic living conditions.
I will let you think about the cold geysers with no flowing water.
SENIOR CITIZEN – Your argument holds water all the way down but then suddenly falls apart on one question: what is the alternative to MMD? UPND can’t hope to win realistically. PF might have a decent shot or even win MAY BE. but would PF provide credible alternative policies? Nobody knows where they stand for economically right now, unless their policies are so advanced they can only be comprehended by the likes of you!! As far as I know Michael Chilufya Sata has been part of MMD since the begining. Do you know what we remember him for: instigating the kicking out of Mwanawasa from MMD, accusing Emmanuel Kasonde of selling the Bembas to Lozis, last but not least, campaigning for FJT Chiluba’s third term. Do you have any credible explanation to praise Sata’s leadership??
#5
You are a genius, my man! Â A true African! Â How come these Patent Fools think that we do not remember how SATAn was there all the way through the hell and madness of the Chiluba years?? Â The Post even had an excellent photo of him surveying the ruins of Cjawama after his machete thugs went on the rampage there. Â The Butcher of Chawama cannot rule Zambia. Â If he wins, then Zambia is finished!
# 6 – I hear you man! People have short memories!
5.
If Sata was not scaring you so much you might of seen i never mentioned any party.
Democratic observers can see NOBODY can claim outright winning yet.
Democratic observers know when propaganda is exposed.
Witnessing the actions of MMD ministers who claim they are not attacking the person but then insult against traditions to justify their actions is dispicable.
This is a party who try to be angels but are just as demonic as those they accuse.
If you actually live in the U.K you will see that country does not create lies and repeat them over and over on government media(BBC).
If MMD was in a REAL democratic society they would be laughed at so hard and chased by the educated to distinction.
Even you know this well so why deny it in your home country?
Explain how Dora is allowed to distribute images of men kissing yet no charges are laid.
Explain how Mpombo is charged so rapidly yet Lucy Changwe is free?
Explain to the citizens why the Chinese were allowed to pay blood money to escape justice?
Explain the actions of pay rises for parliamentarians in a country so poor?
Maybe the poor can eat your ideals next year if MMD win.
# Senior Citizen
The BBC is not government owened.
In UK all public institutions protect the honour and integrity of the monarchy. The monarchy has lent it’s power to the elected commoners through parliament. The majority party in parliament is asked to form government. In Zambia we elect a President who forms government and not a party.
Fair enough on the ownership of the media but would the public accept the lies being peddled by their government?
I’m sure they would not.
Would you see the PM placing extended family members in most foreign embassies?
Like the Levy patronage system?
Would the public accept the wide ranges between poverty and those who’s pockets are lined by government?
We have seen the UK riots and affairs of ministers abusing their privileges!
Now why do you accept the low acts being peddled by the party you stand by?
It is true that there is still a lot amiss in Zambia that needs to be attended to. It is also true that Sata has done very well as an opposition leader by putting pressure on Gov’t to deliver. Without Sata, most of what we are seeing might not be there. It is also very true that Sata can not make a better Gov’t than the MMD. Sata was in MMD for ten solid years, he hounded all the original MMD members out of MMD. His speaches supporting the MMD and Chiluba are there at ZNBC and I am wondering why ZNBC is not playing all these tapes for the people to make informed choices. There is enough recorded about Sata to shut up even the most addent Sata followers.
Sata is not presidential material.zambia will go down the tube if he gets his hands on the wheel of zambia ltd
Voting for people who are not going to change the current situation is just hopeless. Zambia has potential for proper development. We can do this and get rid of the ghettos. Real people live in ghettos and suffer for nothing. Our leaders have the power to change this. There is so much land in the country and the government won’t build proper houses for its own people, but they still want these people to vote for them. All these leaders are useless and selfish, they live in luxury and do not give shit how the other half lives. In Zambia we do not even have an international airline, but countries like Ethiopia, Tanzania, Zimbabwe, Rwanda,, Uganda all the ones we liberated have better infrastruture than us, why? Rwanda was a war-torn country but they are doing better than Zambia. Wake up!!
Kwacha is rubbish and the the governor knows this. How can he claim that the Zambian currency is performing well when we are counting in Billions to buy essentials every year? Who works like that? Zambia Kwacha is like a piece of Newspaper. Cut off those stupid zeros and join the real world
Yes, if inflation is that low, why is rent so high? Why can’t local people buy houses? Fire the silly government. He has a big house with a big zoo for a a garden. He looks after animals instead of feeding the hungry children of Zambia. What sick ***** does this? Yes, all top bankers are Bemba, why?