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Poverty levels still unacceptably high, observes Dr Fundanga

Poverty levels still unacceptably high, observes Dr Fundanga
By Kabanda Chulu
Monday July 14, 2008 [04:00]

BANK of Zambia governor Dr Caleb Fundanga has said there is need for intensive efforts from all Zambians for the prevailing economic growth to be felt by ordinary people. And Dr Fundanga challenged Rotarians to instill a sense of ownership among communities so that projects could be sustained.

During the induction dinner for Barclays Bank Zambia Head of Branch operations Simon Bota as president of the Rotary Club of Nkwazi district 9210, Dr Fundanga said Zambia had recorded an average of more than five per cent economic growth in the last six years.

"In spite of this growth, poverty levels are still unacceptably high and to make a meaningful dent on poverty we need concerted efforts from all stakeholders in development including service clubs like the Rotary," Dr Fundanga said.

He said the Central Bank played a critical role to ensure that there was price and financial stability.

"Our aim is to achieve low inflation that maintains people's disposable incomes at reasonable levels since higher inflation erodes people's disposable incomes by reducing their purchasing power and the most vulnerable are the poor who lack skills and steady income to protect themselves against the effects of higher inflation," Dr Fundanga said.
He said Rotarians were confronted with a challenge to provide not only social amenities to the needy but to share the vision of the club.

"As you undertake these projects, let the communities participate and instill a sense of ownership to enable the sustainability of these projects," said Dr Fundanga.

And outgoing president Henry Ngulube said the relevance of the Rotary was to render service to the people and during the past year, the club embarked on various projects that included provision of a modern X-ray machine at Chelstone clinic.

Ngulube said other projects include the provision of classroom blocks at Lusaka Girls Deaf School, construction of foot bridges in various townships in Lusaka and provision of water and sanitation facilities in Kanyama.
And Bota pledged to work hard with the entire committee.

Labels: BARCLAYS BANK, CALEB FUNDANGA, POVERTY

posted by MrK @ 3:45 AM