Maravi

The Post has exceeded my expectations, says Melu

The Post has exceeded my expectations, says Melu
Written by Chiwoyu Sinyangwe and Nchima Nchito Jr
Thursday, March 05, 2009 9:37:53 PM

THE Post has exceeded my expectations, remarked Standard Chartered Bank Zambia Plc managing director Mizinga Melu on Tuesday after touring the newspaper's headquarters in Lusaka's Rhodes Park area.And Standard Chartered Group Plc has announced a 13 per cent growth in operating profit before tax (OPBT) to US $4.57 billion for the year-end 2008.

In an interview after the visit, Melu said the occasion had given her useful insights on the background of newspaper publication.

Melu, who was in the company of country corporate affairs manager Joy Sata, also expressed delight at the large workforce of The Post.

"...My expectations are exceeded. As I am getting to know about the media and what you journalists do, sometimes you just see the paper and you are not able to see behind it. But today I have been to see what happens behind it where everything happens," Melu said. "I am extremely impressed with the kind of investments that you have here. I think you are doing a great job. Also in terms of the number of staff, Mr [Amos] Malupenga tells me you employ close to 300 people full-time. I think you are a large employer when you compare to the bank [Standard Chartered Bank Zambia Plc], we employ just over 500 and this is a big bank, so you are a big paper and you are doing a great job. I have been impressed."

Melu, who commended The Post for its diversified investment portfolio, said she was also impressed by the enthusiasm of the employees of the newspaper towards work.

"I am very passionate about people, the number of people and the passion they have," Melu said. "I didn't know the [Internet Service Provider] ISP exists. So, I have been happy about that because I didn't know you were [ISP] providers. I just used to think it was just the paper. I did see beyond that and the fact that you have many newsrooms, all that has been very great."

And Post managing editor Amos Malupenga thanked Melu for having taken keen interest in learning about the newspaper's operations.

"It's good you are here so you can see for yourself, there is a lot that we do," said Malupenga. "May I also, although belatedly, congratulate you on your appointment as the first woman managing director for Standard Chartered Bank Zambia Limited. I have no doubt in my mind that you are an inspirational to many young women and men alike."

Meanwhile, Standard Chartered Group Plc has posted strong results for the year 2008 despite the economic turbulences in the latter part of last year.

According to the statement made available yesterday, income for Standard Chartered Group Plc rose by 26 per cent to US $13.97 billion last year.

"Almost 80 per cent of the income growth came from organic businesses," the statement read in part. "The first half of 2008 saw strong economic growth across key markets driven by strong regional trade flows but performance in the second half was dampened as the financial crisis began to have an impact on the real economy across the country."

Standard Chartered Group Plc also stated that the Group managed to significantly build on its reputation as a flight to quality institution with customer deposits rising 31 per cent during 2008, most of it coming in the last quarter as confidence in financial institutions declined.

"Enhanced liquidity and an even stronger balance sheet, following Standard Chartered's successful rights issue in December, places the Group in a strong position to support clients and capture market share," according to the statement.

Commenting on the results, Group chief executive Peter Sands said Standard Chartered Group Plc had a clear and consistent strategy and continues to invest.

"We remain open for business and are supporting our clients as they navigate this turmoil. We want to seize the opportunities arising from this turbulence," noted Sands.

And during the Bank-a-ride reloaded prize winner's handover in Lusaka yesterday, Melu disclosed that Standard Chartered Bank Zambia had grown its deposits to over K1.2 trillion as at December last year.

Melu said the growth in deposits was largely due to the Bank-a-ride campaign that was a huge success.

She said despite the current challenging economic environment, her bank remained confident in the economic prosperity of the country.

Melu further said Standard Chartered Bank was confident that Zambia would at least achieve a growth rate of between four and five per cent this year.

The handover saw two Standard Chartered clients walk away with a Mitsubishi Pajero and a three-bedroomed housing unit courtesy of Southern Cross Motors and Lilayi Housing Estate respectively.

Labels: MIZINGA MELU, STANCHART, THE POST

posted by MrK @ 9:39 PM