Business

Foreign portfolio rise signals investor confidence

NALISHEBO NAMAIKO, Lusaka
THE increased participation by foreign portfolio investors (FPI) in government securities demonstrates confidence in the economy, Bankers Association of Zambia (BAZ) says.
FPI is the entry of funds into a country where foreigners deposit money in a country’s bank or make purchases in the country’s stock and bond markets, sometimes for speculation.
BAZ public relations officer Miriam Zimba said although there has been stagnation in credit extension to the private sector, the commercial banks will continue to provide the much-needed support to the growth sectors of the economy.
Ms Zimba said 18 commercial banks have been responsive to the reductions in the monetary policy rates (MPRs) as announced by the Bank of Zambia (BoZ).http://epaper.daily-mail.co.zm/

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