Banks Align Lending with Government Growth Plans

By Sharon Siame The Bankers Association of Zambia –BAZ- has pledged increased financing to agriculture, energy, mining and tourism to support Zambia's economic prospects over the next five years. Speaking to ZNBC News in Lusaka today, BAZ Chief Executive Officer LEONARD MWANZA said recent gains in macroeconomic stability had created a stronger foundation for investment and economic growth. Mr. MWANZA said the banking sector is aligning its lending strategies with Government priorities, particularly agriculture and energy, which are expected to drive economic expansion and job creation. He said financing was being directed towards agricultural mechanisation, irrigation systems and solar-powered infrastructure to improve productivity and extend farming seasons. Mr. MWANZA said the banking sector was also increasing support to the mining industry through financing arrangements for suppliers and contractors under the Government's local content policy.