The Zambia Institute of Banking and Financial Services notes that government’s over borrowing on the local market is negatively affecting the participation of the private sector in the economy.
Institute Chief Executive Officer Victoria Mumba tells Money FM in an interview that there can only be enough financial flow in the country with increased participation of the private sector in economic activities.
Ms. Mumba also notes the need for enhanced financial education among members of the general public in order to help citizens become active participants in national development.
She reiterates that small and medium enterprises are the major drivers of economies across the World.
The Chief Executive Officer was speaking ahead of the 2019 Banking and Finance Conference slated for the 9th and 10th October 2019 under the theme ‘Financial Inclusion in an Era of Digital Disruptions-Enhancing Sector Transformation’.
The annual Conference will bring together regulators, financial sector players, government representatives and ordinary citizens to discuss various topics in Zambia’s financial services space.