Mutati hails Barclays $6bn support to businesses

Fri, 14 Apr 2017 10:55:03 +0000

By BUUMBA CHIMBULU

BARCLAYS Bank Zambia’s US$6 billion support to its clients in the key sectors of the economy in recent years complements Government’s efforts through the economic recovery programme, says Minister of Finance, Felix Mutati.

Mr Mutati said such investment to economic sectors supplemented Government’s efforts through the economic recovery programme – “Zambia Plus” – aimed at ensuring sustained and inclusive growth.

He was speaking at a farewell cocktail for the bank’s managing director, Saviour Chibiya, who served for over six years and would now be replaced by Mizinga Melu.

Mr Chibiya now take up a new role at the Barclays Africa Group head office in Johannesburg as regional managing director responsible for, among other functions, the corporate and investment banking business for markets in Africa outside South Africa.

Mr Mutati commended Barclays Bank Zambia under the leadership of Mr Chibiya for the commitment and dedication to the bank’s core business strategy of adding growth to the key sectors of the economy.

“We are increasing dialogue with you bankers and customers because we believe that we must prosper together in financial inclusion,” Mr Mutati said.

“On the Zambia Plus, we cannot run this economy without you; we can only run this economy with cooperating partners, including the International Monetary Fund (IMF),”  he said.

The minister commended Ms Melu on her past achievements and that she was seasoned and well positioned to take over from Mr Chibiya.

Mr Mutati urged Ms Melu to ensure transaction fees were flexible as it would encourage people bank their money.

And Bank of Zambia (BoZ) Governor, Denny Kalyalya, urged Barclays to continue rendering support to the Zambian financial sector with affordable banking and financial services.

Dr Kalyalya also urged the bank to continue supporting Zambia’s goal of increased financial inclusion.

Meanwhile, Mr Chibiya said he was proud to have led Barclays Zambia in achieving great milestones in the face of global and local developments which presented opportunities as well as challenges.

Mr Chibiya thanked Barclays Bank Zambia colleagues for their resilience in driving the bank’s strategy, ultimately resulting in superior banking solutions for their clients’ diverse needs.

And Ms Melu reassured Barclays bank clients that the bank would remain committed to grow its business in Zambia.

“It is such an honour to take the mantle from Mr Saviour 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.