Business

Barclays boosts economic recovery efforts

KALONDE NYATI & KABANDA CHULU, Lusaka
BARCLAYS Bank Zambia’s US$6 billion injection in key sectors in recent years has complemented Government’s efforts of driving the economic recovery programme, Minister of Finance Felix Mutati has said.
Speaking at a farewell cocktail for the Bank’s managing director, Saviour Chibiya, last week, Mr Mutati said support to key sectors has ensured sustained and inclusive growth.
“On the Zambia Plus [economic recovery programme], we cannot run this economy without you, we can only run this economy with co-operating partners, including the International Monetary Fund (IMF),” he said.
Mr Mutati commended Mr Chibiya for his sound leadership saying the commitment to the bank’s core business strategy has contributed to the growth of key sectors.
He also encouraged newly appointed managing director Mizinga Melu to ensure transaction fees are flexible to promote financial inclusion.
Meanwhile, Bank of Zambia (BoZ) governor Denny Kalyalya urged Barclays to continue rendering support to the Zambian financial sector with affordable banking and financial services.
Meanwhile, Mr Chibiya thanked Barclays Bank Zambia for its resilience in driving the bank’s strategy ultimately resulting in superior banking solutions for the diverse needs of clients.
Mr Chibiya will now become the Regional Managing Director responsible for the Corporate and Investment Banking business for markets in Africa outside South Africa.
At the same occasion, Ms Melu reassured Barclays’ clients that the bank will continue to grow the business in Zambia.
“It is such an honour to take the mantle from Mr Chibiya in driving our solid strategy and building on that to further pursue growth opportunities in the key economic sectors including mining, agriculture, energy, manufacturing, telecom and public sectors,” she said.

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