Zambia for top finance award

Sovereign Bond
Sovereign Bond

Zambia Daily Mail by Online Editor on 6/9/13


…Finance Magazine recognises Zambia
ZAMBIA has been nominated by the Europe Middle-East and Africa (EMEA) Finance Magazine as one of the top contenders for the prestigious finance award for the Best Sovereign Bond Issuance for 2012.
The awards ceremony will be held in London on Thursday next week.
This is according to a statement issued in Lusaka yesterday by Ministry of Finance public relations officer Chileshe Kandeta.
EMEA is a leading emerging markets publication which focuses on the performance of capital markets in the entire Europe, Middle-East and Africa.
The EMEA publications are some of the most sought-after opinion leaders for investors worldwide.
And commenting on the development, Secretary to the Treasury Fredson Yamba said the country’s nomination for the award is not only an important indicator of the international community’s discernment of Zambia’s political, social and economic stability but is also an endorsement of its consistent and market-friendly economic policies.
“This is a confirmation that Zambia’s image is truly venerated by the international community,” Mr Yamba said.
He said the private sector should leverage this nomination to develop profitable alliances with players in the international community and grow economic empires which will generate more jobs and wealth creation opportunities for Zambians.
Mr Yamba said Government is looking forward to the event and that a representative will be sent to the awards ceremony.
“Although there are other good nominees from the worldwide financial markets community, we look forward to a positive outcome. That is why Government will be sending a representative to the awards ceremony in London,” Mr Yamba said.
Recently, Standard & Poor’s Ratings Services affirmed its ‘B+/B’ long and short-term foreign and local currency sovereign credit ratings on Zambia.
In their communiqué, they attributed the ratings to Zambia’s promising investment prospects in the mining sector, positive economic growth trends, moderate general Government debt and a robust external balance sheet.