By Ellen Hambuba
President HAKAINDE HICHILEMA has urged ABSA Group to consider making the cost of capital more affordable, citing Zambia’s improved macroeconomic stability and fiscal discipline as a strong basis for reduced lending risk.
President HICHILEMA says lower interest rates would allow more Zambians to participate in productive sectors of the economy.
He said this today during a meeting with ABSA Group Chief Executive Officer KENNY FIHLA and his delegation at State House.
The President called for continued cooperation between Government and the private sector, noting that partnerships with financial institutions remain key to unlocking long-term economic growth.
He said Government would keep engaging all stakeholders as it works to consolidate economic gains and secure sustainable growth for both present and future generations.
Meanwhile, the ABSA Group CEO praised the Zambian Government for its efforts to stabilise the economy.
Also speaking at the meeting, ABSA Group Chairperson AUSTIN MWAPE said the bank is putting in place measures to lower the cost of capital through concessionary financing.
