Stanbic Bank hails 2017 ease of doing business initiative conference

Stanbic Bank Zambia says speeding up reforms that make it easier for companies to do business in Zambia will make the country a very attractive investment destination.

Stanbic Chief Executive Charles Mudiwa made the remarks following the recent Ease of Doing Business Initiative (EDBI) Conference in Livingstone, which showcased the best doing business practices and encouraged political buy-in of the business regulation reform agenda under the theme “Business Reforms for Industrialisation, Value Addition and Job Creation”

Mr Mudiwa said the conference came at an opportune time when the country was accelerating efforts aimed at attracting more investments.

“As a bank, we believe that companies, especially small and medium enterprises (SMEs), are the engine of the country’s growth. Therefore, ensuring simpler and more friendly regulations for such businesses to thrive is key to making Zambia an attractive investment destination,” he said.

Mr Mudiwa said the bank remained committed to supporting the growth of enterprises through its various business-friendly banking products. He said Stanbic had continued to be the enterprise bank of choice in Zambia.

With a large SME customer base, the bank continues to grow this important segment and improve the customer experience through its unique relationship management model and provision of reliable digital solutions that improve business operations.

Supported by the World Bank, the Ease of Doing Business Initiative Conference was a peer-to-peer learning event that facilitated knowledge sharing on doing business reforms. It was grounded in the interest and need expressed by several Africa countries to learn and share information and experiences about the reforms implemented in the scope of Doing Business.

Mauritius, the top-ranked Doing Business country in Africa for three years running, hosted the first conference in 2010, and Rwanda, the country that improved the most in the ease of doing business in 2009/2010, hosted the second.

The third meeting was held in March 2012 in Gaborone, Botswana. Since 2012, the conference has been hosted by South Africa, Mozambique, Uganda and Kenya. Zambia becomes the 8th country to host the EDBI Conference.

Zambia is ranked 98 among 190 global economies in the ease of doing business, according to the latest World Bank annual ratings. The Ease of Doing business index ranks countries against each other based on how the regulatory environment is conducive to business operation.