Invest in Govt securities, public advised

WE want the public to know that they can invest in government securities, Bank of Zambia assistant manager GRZ marketing dealings, Mirriam Matyola has said. Speaking during the government’s securities awareness campaign sensitisation meeting held at Mariana motel in Mkushi, Ms. Matyola said the essence of the meeting was to let them know that they could invest in government securities because they were the alternative investment that one could make. Ms. Matyola said individuals, business institutions, and foreign entities were all eligible for government securities such as bonds and treasury bills. She said the only qualification was having a local account with one of the banks and the minimum, one should have was K1,000. She said it should be K1,000 up to K29,000 in multiples of K1,000 and will be eligible to come on the noncompetitive window. Ms. Matyola said on the noncompetitive window, one will be a price taker, the price that was allocated on the competitive window was what shall be given. Ms. Matyola said for those with over K30, 000 in multiples of K5,000 will come on the competitive window, coming with own price and basically determining the price. But at the end of the auction, the lowest cut off price, was the yield that is to be given to everyone because what was used was the uniform system. Ms. Matyola appealed to the Mkushi community to take advantage and invest in government securities for development.