Q FM Africa's Modern Radio
Standard Chartered Bank Zambia Chief Executive Officer Andrew Okai says the current depreciation of the kwacha is temporal.
Speaking at the Bank’s breakfast seminar on wealth creation, growth and preservation in Lusaka today, Mr. Okai says when the right decisions are made by government in consultation with relevant stakeholders, the kwacha will begin rebound.
Mr. Okai says in trying to stabilize the falling kwacha, the government should balance the critical needs of the economy with fiscal consolidation.
He notes that the government should also continue with stakeholder engagement as this will allow for the right solutions to come to the fore.
Mr. Okai says despite the challenges the country is facing, it still remains a key market for Standard Chartered Bank.
He states that Zambia is one of the best destinations for foreign exchange as it continues to hold a strong reputation of peace and security.
Mr. Okai further states that as a bank they will continue to work with the community in which they operate for the development of the nation.