‘INVESTMENT OPPORTUNITIES STILL ABUNDANT’
ZAMBIA'S
opportunities for investment are still abundant despite the current economic challenges, Absa Zambia Chief Executive Officer, Mizinga Melu, has said.
Ms Melu said Absa would continue to unlock opportunities across sectors of the economy.
She emphasised that the current economic challenges should not deter investments.
Ms Melu said this on Friday when she launched three branches at Long acres and Cosmopolitan in Lusaka and Kafue branch in Kafue.
"Despite the economic challenges, all hope is not lost because there are a lot of opportunities that can be explored by the private sector. We are seeing a lot of growing opportunities.
"For instance we are seeing growth in the telecommunications sector and as this sector grows, other sectors are also growing,” she said.
Ms Melu said the telecommunications sector had facilitated the growth of the banking sector through digitalisation.
Through digitalisation, she said, financial institutions were now able to provide banking services to unbanked communities.
"Absa bank will continue to unlock possibilities and thus contribute to the growth of the country’s economy," Ms Melu said.
On opening of branches, Ms Melu said it was an indication of the bank’s commitment to Zambia’s economic development.
The bank has set aside K128 million in the branch rebranding with the three branches opened last Friday costing over K8 million.
Mrs Melu said works on the new head office to be commissioned soon were progressing well. “This shows our commitment to Zambia thus the small and medium scale enterprises (SMEs), the staff that have all been maintained and the economy as a whole,” she said.