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CONSIDER NOT CLOSING CHILILABOMBWE BRANCH MP APPEALS

Minister of Mines and Minerals Development Honourable Richard Musukwa has appealed to Standard Chartered Bank Zambia not to close its branch in Chililabombwe district because of huge trade volumes at Kasumbalesa border post that the bank handles.
Honourable Musukwa who is also Chililabombwe Member of Parliament says the Stanchart branch in the district is a transactional branch for major accounts held across the country by people who do business at the Kasumbalesa border post which Zambia shares with neighbouring Democratic Republic of Congo (DRC).
He adds that the trade volume for Kusumbalesa border alone is estimated around US$10 million to US$20 million dollars.
Honourable Musukwa has advised the bank to instead engage all stake holders and listen to their concerns before going ahead with the closure.
He says closing the branch will negatively affect business operations in the Mining town which will in turn negatively impact people.
“Government wants to see the private sector thrive but they should do this by putting interests of Zambians first,” stated the Minister.
Honourable Musukwa was speaking in Lusaka today when he held a meeting with Standard Chartered bank Zambia Managing Director Herman Kasekende.
And Mr. Kasekende assured the Minister that his bank will take into consideration concerns raised by stake holders.
He said the bank will dispatch a team of experts that will explain further how his financial institution intends to carry out operations going forward.
Standard Chartered bank Zambia has a public notice circulating in the media stating that it intends to close its branch in Chililabombwe.

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