Standard Chartered invests $40m in facelift

STANDARD Chartered bank has invested US $40 million in the construction of a state of the art building that will house the headquarters, bank chief executive officer, Herman Kasekende has announced. Mr Kasekende said the building which was being constructed on Addis Ababa road would be ready for occupation in 2020. Speaking during the ground-breaking ceremony in Lusaka on Tuesday, Mr Kasekende explained that the building would be the first office building in Zambia with green building certification. "Today we are proud to flag off an addition to the bank’s investment into the Zambian economy in form of a state of the art building that will be a valuable addition to the infrastructure of this country. "Some of the features of the building are modern office spaces, an employee wellness centre and other amenities aimed at making the members of staff comfortable, “he said. Local Government Minister Vincent Mwale who was the guest of honour at the event commended the bank for taking an active role in economic development. The minister said the bank has contributed 15 per cent counterpart funding to the K 286 million needed for the Lusaka decentralisation project. Mr Mwale noted that the bank has maintained its relevance to the Zambian economy by providing financial services to the business community as well as individuals. He explained that Government remains committed to ensuring that Zambia had a conducive economic and business environment where business could thrive. “Standard Chartered bank remains a key partner in various sectors of our economy where the government places priority, government capabilities, energy mining and telecoms infrastructure development and indeed the community. “Our government is determined to ensure that there is sustained economic growth and diversification,” he said.