By MAIMBOLWA MULIKELELA –

Government has challenged Standard Chartered Bank to consider investing in financial education to help create a conducive business environment in the country.
Finance Minister Alexander Chikwanda said such investments would help to attract more Foreign Direct Investment (FDIs), create jobs and improve the standards of living for the Zambian population.
He said Government was ready to partner with institutions such as Standard Chartered Bank in order to improve the country’s business environment.
The Finance minister said at the launch of the  Standard Chartered Bank Socio-Economic Impact Report in Lusaka yesterday, that Africa was faced with challenges of infrastructure hence the need to invest in its development to enhance economic growth.
“That is why this Government is committed to developing the country’s infrastructure – we have major developments taking place to improve roads, energy capacity, railway system, airports and fiber optic which will improve communication,” Mr Chikwanda said.
Zambia has continued to record positive growth and Government is committed to making further investments to boost the country’s economy.
Mr Chikwanda said Zambia had experienced positive economic growth over the past decade and that,  Government was committed to making further investments in the economy.
Speaking at the same function, Standard Chartered Bank managing director Andrew Okai said the bank had commissioned ‘The Banking on Africa’ – an independent study to measure the role of the bank and its contribution to economic growth and value addition.
Mr Okai said the bank was able to contribute about US$953 million to the Zambian economy representing 4.6 per cent of the country’s Gross Domestic Product (GDP) in 2012, creating about 147,000 jobs.
“The study highlights how we can help to remove barriers to job creation by using our relationships and capabilities
in Asia, Africa and the Middle East to mobilise off-shore capital for crucial infrastructure investment,” he said.
Last year, the bank had committed a total of $2 billion to the African energy projects, as part of the five-year power Africa initiative and would invest more of its time looking at how to work with large corporate clients to support more Small and Medium Enterprises (SMEs) through the supply chain.