Friday, 14 September 2012

Zambia's president says clean investors are welcome to his country as he hails international community for the overwhelming support towards the first sovereign bond.

President Micheal Sata has assured both foreign and local investors that clean investment has no reason to fear Zambia.

Speaking in light of the first dollar bond being oversubscribed to 750million dollars from the initial 500million dollars bond, president Sata says the achievement of the first bond being oversubscribed establishes Zambia as a very credible investment destination and this means that Zambia has a vibrant future.

President Sata says his government will continue to value foreign investment and do everything within it powers to safeguard the investment climate.

He says this happy outcome is a credit to the people of Zambia who are the architects of unity, peace and stability that the country’s development prospects are firmly anchored on.

President Sata has further expressed profound gratitude to the international investor community for the massive and overwhelming support for Zambia’s first sovereign bond.

He has expressed delight at the confidence placed in Zambia by financial houses in America, Europe and Asia resulting in the bond realization of US$750 million, far beyond the US$500 million which was originally envisaged.

The Head of State has also congratulated the Zambian team for the superb accomplishment.

The team led by finance deputy minister Miles Sampa included among others Ministry of Finance permanent secretary for economic management Felix Nkulukusa and Bank of Zambia (BoZ) deputy governor operations Dr. Bwalya Ng’andu.

The President has highly commended the team’s unique sense of duty and commitment stating that they went on road show to sell the bond and were thoroughly prepared for the task.

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