Africa Connected

Growth largely local in Zambian market

While Zambia’s economy has come under strain in recent years, in line with a global economic downturn, the World Bank is forecasting Zambia's economy to grow by 4% this year and by 4.2% in 2018. These numbers are due as a result of an improvement in power supply alongside better performance from both the significant agriculture and mining sectors.

Nikiwe Bikitsha visited Mwansa Mutati, Head of Business Banking at Stanbic to get an idea of the extent to which these dynamics affect small business growth in Zambia. Mutati says that while there is interest from overseas, the majority of business expansion is Southern African...

Click here to access the Africa Connected portal or click below to watch individual comments from Mwansa Mutati of Standard Bank...

We're seen a significant growth. We're seeing a positive trend.

Mwansa Mutati, Head of Business Banking at Stanbic, Zambia

It's actually easy to open a company here. The relevant advice is readily available.

Mwansa Mutati, Head of Business Banking at Stanbic, Zambia

We get the benefit of meeting clients early on.

Mwansa Mutati, Head of Business Banking at Stanbic, Zambia

We're seeing a lot of SA companies, whether being referred to us by Standard Bank or through other contacts, showing interest in setting up business here in Zambia.

Mwansa Mutati, Head of Business Banking at Stanbic, Zambia

Predominantly it's either services, or its trading.

Mwansa Mutati, Head of Business Banking at Stanbic, Zambia

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