Capital markets alternative form of wealth – SEC

CAPITAL markets should be encouraged in Zambia because they are an alternative form of saving, says Securities and Exchange Commission (SEC) manager (market transaction)Bruce Mulenga.

Mr Mulenga said wealth and savings could grow using capital markets by investing in shares and bonds and collective investment schemes.

In an interview in Chisamba recently, Mr Mulenga said savings were essentially achieved through capital growth, which was an instrument for economic development.

He said SEC was committed to develop the securities industry in Zambia as a vehicle for public investment, adding that the commission also aimed at having a positive impact on Zambia’s economic development.

Mr Mulenga said the capital market was earmarked for transformation to enable it contribute significantly to the economic development of Zambia. “The commission focuses on providing a safe and secure environment for issuers to raise capital while protecting investors in the capital markets,” he said.

He said capital markets brought together deficit and surplus units to ensure there was efficient allocation of resources.

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