Zambia Banking & Financial Services Q4 2019
The financial and public services sector is set to grow by 7.9% in nominal local currency terms to ZMW77.26bn in 2019,translating to a 9.2% contraction in US dollar terms to USD5.47bn. By 2028 the sector is set to reach ZMW106.57bn (USD5.69bn).The government is crowding out private sector credit growth by resorting to domestic borrowing in order to reduce growth inexternal debt. However, the stock market remains too shallow and lacking trading activity for private firms to consider listing to raisecapital. In turn, this has undermined investment in public equities. In terms of asset class, real estate looks set to rise in allocations byfunds, although government bonds will remain attractive as long as interest rates remain positive in real terms.
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