LUSAKA, Aug. 27– Zambian President Hakainde Hichilema said Thursday that strong investor demand at the government’s latest bond auction reflected their growing confidence in the country’s economic stability and reform agenda.
Hichilema made the remarks in a statement after the government bond auction held on Aug. 21, which was oversubscribed by about 36.5 percent.
He said the strong demand demonstrated growing investor confidence in the country’s economic direction and would ultimately benefit ordinary Zambians through lower prices, cheaper credit and increased employment opportunities.
“Zambia’s cost of borrowing is coming down, freeing up more resources for the services and investments that matter to Zambians,” he said.
Meanwhile, Hichilema said households were still facing pressure from high prices while unemployment remained high, hence the need for more work to be done.
The government would continue to prioritize reducing the cost of living and creating more jobs, the president added. Hichilema won the presidential election on Aug. 18, securing a second five-year term. (Namibia Daily News / Xinhua)
