Mining investments take some time to make impact, says StanChart boss, Zulu


Zambia’s journey towards mining investment is in the right direction, and positioning the country for bright future prospects.

This is according to the Standard Chartered Bank Zambia Chief Executive Officer, Sonny Zulu, in an interview on Monday on the side-lines of the on-going 2024 Investing in African Mining Indaba taking place in South Africa.

Zulu expressed optimism about Zambia’s prospects on the mining industry despite the investments taking some time to bear fruits.

He reminded Zambians and other stakeholders that mining investment was not an overnight venture as it took some time for the impact to be felt.

Read more: Zulu, StanChat boss, lists gains of debt restructuring deal on banking industry

Zulu also stated that Standard Chartered bank had met with a number of investors at the indaba, some of which it had already been in discussions with.

“If there is anything to go by in terms of what we have heard and of what is being put on the table, the future really looks bright. Some of the impact might take some time before we see what is happening on the ground but the journey has already started, we are already in the mix and this is really exciting.

“The message to Zambians is that we have to hang in there because mining investment is not an overnight venture, its takes time, sometimes even just documentation itself takes a bit of some time, but are we moving in the right direction? Absolutely in the right direction,” Zulu said.

On the key note address delivered by President Hakainde Hichilema at the indaba on Monday, Zulu said the speech gave hope for future prospects.

“Even though it was virtually but his message was right to the point, impactful and good to learn a number of commitments from investors and he gave a very good account of what has happened in the last two years
“He [President Hichilema] was able to give an update on what has happened. Also giving an update and account of what is happening now and what is likely to happen in the next three years,” Zulu said.

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