Q FM Africa's Modern Radio
Felix Mutati – Finance Minister
Finance Minister Felix Mutati has expressed concern that the contributions of the insurance sector in Zambia to GDP still remains below 2 percent.
The Finance Minister said this in Lusaka last night during the 25 years anniversary of the Professional Insurance Corporation Zambia Plc.
Mr. Mutati says the insurance sector has not grown to the expected level saying the penetration percent is still below 6 percent.
And Mr. Mutati has disclosed that the economic fundamentals are going in the right direction with the kwacha gaining strengthen against major convertible currencies, inflation rate dropping and the deficit is contained.
He says the growing of the economy is every Zambian citizen’s responsibility.
Meanwhile, Mr. Mutati has disclosed that the government is determined to pass the Insurance Bill this year to make the insurance sector more viable.
Speaking at the same event, Professional Insurance Corporation Zambia Plc Founder Rajan Mahtan says the company is here to stay in Zambia as it is 100 percent managed by Zambians.
Dr. Mahtan says the company has now entered into partnership with Sunbird Bio-energy Africa to establish the first Bio-Ethanol Plant in Kawambwa in Luapula Province to create a combined 32 mega watt power and 120 million liters ethanol project at a total cost of US$250 million.