The Capital Markets Association of Zambia – CMAZ has signed a Memorandum of Understanding (MOU) with the Zambian Business Times – ZBT that will see the two organizations partner and leverage the synergies that has previously not been fully exploited for the growth and development of capital markets in Zambia.
CMAZ Secretary who is also the Managing Director of Altus Capital Cecilia Siabusu said the country as a whole is lacking when it comes to financial literacy and the association would like to partner with ZBT to further educate the masses about the various products and services that are available for them.
Siabusu said many industries have been crippled due to the COVID-19 pandemic and as an association, CMAZ has continued to emphasize the need for people to save and invest for a rainy day.
Speaking during the MOU signing ceremony, Siabusu said people that have invested are not struggling as much as those who did not invest or prepare for such a time, therefore the need to educate and share information with more people on the importance of investing and the role that capital markets play.
Speaking during the same event, ZBT General Manager Donald Mumba said the partnership aims to effectively contribute specifically to the growth of capital markets and generally deepening of financial literacy in Zambia.
Mumba said the need for establishing a developed and efficient capital market cannot be over emphasized if Zambia is to develop, therefore this partnership aims to contribute and add another chapter to the country’s desire to attain a faster paced development journey.
He said ZBT aims to partner with CMAZ to effectively contribute to the deepening of capital markets offerings as well as provide an independent platform for assessment and communication of credible and relevant information.