• Standchart pledges its commitment to continue investing in various sectors to support and drive economic growth.
• Despite recent global volatility, Zambia has been fortunate to have maintained a stable inflation rate.
• These positive economic factors show that Zambia is on the right path to economic recovery.

Standard Chartered Bank Zambia PLC has pledged its commitment to continue investing in various initiatives and sectors to support and drive economic growth.
Speaking during the Market Outlook Breakfast, Bank Chief Executive Officer Sonny Zulu said despite the recent global volatility, the country has been fortunate to have maintained a stable inflation rate which is still in single digits, steady interest rates as well as stable foreign exchange rate which has firmly held around K16 to the United States dollar.
Mr. Zulu stated that these positive economic factors show that Zambia is on the right path to economic recovery.
“Along with the current undertone of Macro-Economic transformation, we all need to fully appreciate how the many policies that Government is putting in place to sustain the Economy, “he said.
And speaking at the same event, Bank Board Chairperson Dr. Caleb Fundanga said the financial institution will continue to invest in world class digital platforms such as the online and mobile banking app in order to make it easier for Zambians to withdraw and deposit cash.
“In line with this, we have reduced our interest rates on mortgage loans from 24.5 percent to 16 percent, the lowest currently in the market, “he said.
Dr. Fundanga disclosed that the move demonstrates the confidence that the bank has in the Zambian market as it continues to make strides to kick start the engine that will drive the country to growth and prosperity for Zambians.
“We urge our clients to take advantage of the reduced mortgage rates to build homes to better their lives,” he added.
Meanwhile, Bank’s Chief Research Officer for Africa and Middle East, Razia Khan advised the Zambian Government to create faster reforms to enhance quick growth in the economy.