ABSA BANK REAFFIRMS COMMITMENT TO ZAMBIA’S ECONOMIC GROWTH AT MINING INDABA
Cape Town, South Africa…. 5th February 2025
Finance and National Planning Minister Dr. Situmbeko Musokotwane says there can be no meaningful development in Zambia without a vibrant and thriving banking sector to spur economic activity.
Speaking during the business luncheon organized by Absa Bank at the ongoing Investing in Africa Mining Indaba, Dr Musokotwane notes that the banking sector in Zambia has continued to play a pivotal role in the economic emancipation of the country through various services offered to its clientele.
He says it is for this reason that the New Dawn Government places a high premium on the sector as it plays a crucial role in fostering economic development.
He points out that the number of Zambian financial entities that have exhibited at this year’s Indaba is encouraging and that the Government is committed to providing a conducive environment to banks and other stakeholders in the sector.
“The Government continues to value the role that the banking sector plays towards the development of the country,” Dr. Musokotwane said.
And Absa Bank Chief Executive Officer (CEO) Mizinga Melu says she was delighted to have a successful business meeting with the Minister on the sidelines of the busy Mining Indaba.
Ms. Melu notes that the Mining Indaba is an important event for African pioneers and change-makers who are shaping a brighter future for mining in Africa.
She says Absa’s participation at the event underscores its commitment to supporting this key sector in the development agenda of Zambia and the continent at large.
She reveals that while
engaging with other stakeholders at the event, her team has been encouraging positive sentiments surrounding the growing attractiveness of Zambia as an investment destination of
choice.
“The continued investments in key economic sectors such as mining, energy, agriculture, and manufacturing are expected to drive the country’s future economic growth,” Ms. Melu said.
The Indaba has attracted more than 8000 delegates, 1200 investors, 700 mining companies, as well as 94 Government officials drawn from across 100 countries worldwide. The event
showcases Africa’s commitment to attracting investment in its mining sector, where key decision-makers representing the entire African mining value chain have converged to discuss the future of African mining.