. Sichinga

By MAIMBOLWA MULIKELELA –
COMMERCE, Trade and Industry Minister Robert Sichinga has said there were 955,150 people in formal employment in Zambia as at December 2013.
The 955,150 formal jobs as at the fourth quarter of 2013 represents an increase of 119,771 from the 835,379 people in formal employment recorded in the first quarter of 2012.
“The highest increase of 44,002 was observed between fourth quarter 2012 and first quarter 2012. This goes to demonstrate Government’s commitment to addressing this huge burden of youth unemployment and under employment,” Mr Sichinga said.
He said this during the United Bank for Africa (UBA) and Necor Zambia Limited announced their partnership in Lusaka yesterday.
Mr Sichinga said the Government believed that stimulating business growth through new infrastructure, skills development, industrialisation and business linkages would go a long way in creating employment opportunities.
Mr Sichinga said it was, therefore, important for the Bank of Zambia (BoZ) to move quickly and take advantage of the various technologies in the banking sector saying that this would help reduce the cost of doing business.
He said the Government had committed itself to reducing the cost of doing business through various infrastructural, structural, legislative and regulatory reforms.
On the partnership, he said, UBA clients could now walk into any of the 19 Necor Zambia networks of branches in all the provinces and any of the four UBA branches to acquire UBA prepaid chip-enabled Visa card and be able to deposit money on the card.
UBA Africard is a unique VISA prepaid card denominated in local currency which is acceptable locally and internationally with a market potential of more than 1 million prepared cards.
“We believe that as we roll out our massive infrastructural development drive and amend laws that impede business growth, the business community will take advantage of the business opportunities that are available as we open up this country,” Mr Sichinga said.
Speaking at the same function, UBA managing director Stanley Ugwueze said the bank would continue to facilitate local and international business for all Zambians.
And Necor managing director Friday Mwamba said the extended network would help this product reach almost every corner of the country and provide the convenience required for the successful provision of such services.