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Zambia seeking lower and fairer cost of capital —President Hichilema


President Hakainde Hichilema says Zambia is seeking lower and fairer cost of capital to drive economic development in the country.

He said this when he met with Citibank Middle East and Africa Chief Executive Officer David Livingstone at State House in Lusaka on Tuesday.

“This morning, we welcomed a delegation from Citibank led by the Mr Livingstone,” disclosed President Hichilema on his official social media handle.

He said government would continue looking at ways on how Zambia can access lower and fairer cost of capital, which can be the catalyst that triggers economic activity at all levels.

“It is good to note that partners like Citibank share our government’s reform agenda,” President Hichilema said.

He looked forward to more engagements, “where we can learn first-hand, the challenges faced by organisations doing business in Zambia”.

Read more: Banking sector critical to economic growth, Finance Minister says at stakeholders meeting

Speaking at the same event, Livingstone said the bank was resolute to expand its footprint in Zambia to reach both the banked and unbanked communities in the country.

Citi bank has been operating in Zambia since 1979.

He said the bank remains committed to ensuring that both government and commercial clients are served conveniently and satisfactorily.

Pictures courtesy of State House Media

Livingstone recognised the Zambian government ‘s ongoing economic reforms which included creditor engagements on debt restructuring.

He was upbeat on Zambia’s debt restructuring programme that was aimed at getting the country’s economy back on track.

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