• JP Morgan has encouraged people to buy Zambia’s treasury bonds and bills.
• The Kwacha has started appreciating.
• more people are expected to rush into Zambia for physical investment

An Investment Expert says investor confidence in the country’s economy has grown following the election of new office bearers.
Speaking in an interview with Money FM News, Kenny Sinyangwe noted that Wall Street bank JP Morgan, has already encouraged people to buy Zambia’s Treasury Bills and Bonds, because the President Elect, Hakainde Hichilema has a business background.
“We have a President who has a business background, he is an economist and he himself is an investor. So what this has done, already we have seen JP Morgan encourage people to buy our treasury bonds and bills. So already we have seen the Kwacha starts to appreciate,” Mr. Sinyangwe said.
Mr. Sinyangwe stated that as a result, the Zambian Kwacha has started to appreciate, therefore more people are expected to rush into the country for physical investments and trade.
“We expect to see more people rushing into Zambia to build the walls of Zambia in terms of physical investment and also trade because every other country it doesn’t matter as long as there is confirmation of a President for the next five years that is the period that people start to invest, so it is not just the fact that we have a new President, it’s also the fact there is five years to negotiate anything at this particular point.”
“So now that we have direction and we know who it is and what kind of person we are dealing with, it has created more investor confidence,” he noted.
Wall Street Bank JP Morgan, one of the oldest financial institutions in the United States on Monday recommended buying Zambia’s local currency Sovereign bonds after Opposition leader Hakainde Hichilema’s landslide election victory.
According to Reuters, the Bank said the reduction of political risks in the country has made people more comfortable about investing in Zambia’s fixed income asses.