Zambia can achieve over 3% 2nd quarter growth – BAZ

Leonard Mwanza

The Bankers Association of Zambia (BAZ) says Zambia can achieve the over 3 percent economic growth projected for the second quarter of 2018.

Chief Executive Officer, Leonard Mwanza says his association is basing its analysis on the economic performance of the Country in the first two months of the quarter.

Mr. Mwanza says the BAZ has observed that there is a positive outlook in terms of where the Country is headed economically.

In an interview with QTV News, Mwanza notes that the banking sector has in fact seen some recovery.

Mr. Mwanza states that this is evidenced by the slight increase of lending that is now going to the private sector.

He says his association has also taken note that there is a decrease in none performing loans from 13.2 percent to 12.8 percent.

Mr. Mwanza says the banking sector is looking at reducing none performing loans to below 10 percent in order that interest rates can equally be scaled down.