Maravi

Zulu urges Zambians to invest in stock markets

Zulu urges Zambians to invest in stock markets
By Chibaula Silwamba
Thursday April 17, 2008 [03:59]

STANDARD Chartered Bank Zambia shared distribution general manager Sonny Zulu has advised Zambians to invest in shares because the economy is doing well and companies are making profits at the moment. In an interview on Tuesday, Zulu said people that invest in the stock markets would get high returns because companies were performing very well.

“It is logical that as the economy is doing well all the companies are performing very well and this is the right time for Zambians to actually invest in shares because as you know, when the companies are doing well and you have invested in that company, then the returns as well are going to be very attractive,” Zulu said.

He said it was interesting that many companies were listing on LuSE to raise funds.
However, Zulu observed that most Zambians might not have enough funds to invest in the stock market.

“This is where Standard Chartered bank comes in. We are offering what we are calling the Share Power promotion. This is to help Zambians who would like to invest in shares but may not have the funds now, the bank is ready to offer that funding and empower Zambians to own shares,” he said.

“This promotion is going to run from 20th April to 31st May, 2008 and it will be at preferential rates. As you know our normal lending rates are at 19 per cent but we are offering a preferential rate for this promotion.” Zulu said loans were secured and the borrowers would not be required to have collateral.

“The only requirement for these loans is that you have to be a salaried individual. The loans will range from K5 million to K120 million,” he said. “This promotion is just for our customers because it is easier for us to monitor the loans.”

And Standard Chartered Bank corporate affairs manager Luke Njobvu said one of the biggest gains that a person gets from a stock exchange was appreciation in the capital of the company.

“So they should look at capital gain more closely than they should look at the dividends payouts,” said Njobvu.

Labels: LUSE, SONNY ZULU, STANCHART

posted by MrK @ 5:40 AM