Capital markets should boost the financial system

GOVERNMENT says the Capital Markets Master Plan ( CMMP) should contribute towards ensuring the smooth functioning of the financial system in Zambia.

The Capital Markets Master Plan ( CMMP) is a comprehensive ten- year long- term strategy which sets out the primary framework for Zambia’s capital market development over the next decade.

Secretary to the Treasury, Felix Nkulukusa, said the master plan was an imperative strategy that could address the barriers to the development of the capital markets and create an attractive investment environment for various players.

He said this in a speech read for him by Ministry of

Finance and National Planning Permanent Secretary Economic Management and Finance, Danies Chisenda, at the inaugural CMMP working group meeting on Monday.

“It is only through our concerted efforts that we can foster an environment that shall enable our capital markets to contribute effectively towards the attainment of a stable, resilient, competitive and inclusive financial sector that contributes to our economic growth and transformation as a country,” Mr Nkulukusa said.

He expressed optimism that the plan would play an enabling role in stimulating the desired growth needed for the country to attain the sustainable development objective set in the vision 2030 and 8NDP.

Mr Nkulukusa also called for the repositioning of the capital markets as an enabler for growth and sustainable economic development leveraging the master plan.

On the working groups, Mr Nkulukusa said: “The successful formation of the working groups and other governance and implementation structures is a testament to our shared vision and commitment towards advancing our national development agenda in the capital markets, “he said.

“The primary responsibly of the working group is to validate and monitor development in the capital markets, propose and facilitate execution of detailed implementation plans and resolve technical issues among others.”