Barclays readies for top-level AfDB talks

BARCLAYS Bank Zambia is looking forward to utilising the 2016 African Development Bank (AfDB) annual meetings next week to partner with other players in the financial sector, says managing director Saviour Chibiya.

Mr Chibiya said in an interview that such a conference provided the necessary avenue for Barclays to partner with other financial players and continue to support the Zambian economy.

He said the conference was important as it put Zambia on the map for hosting such a big meeting with over 4,000 delegates.

Mr Chibiya said the conference, whose focus was, among others, the energy sector, was in line with his bank’s efforts in supporting the sector.

“As you know energy is one area in which we have been actively involved and we are  happy that last year we were able to support the sector diversify from hydro through the Maamba  Collieries project for US$825 million to which we were the arranger for that financing,” he said.

He stressed that Barclays Bank Zambia was well prepared for the conference with some of its staff working on financing arrangements for some of the discussions it would be sponsoring.

“We will be playing a couple of roles; we are working with the AfDB to sponsor one of the discussion events on financing of energy.

“Energy is just one area that I have mentioned but we are also involved in raising funds for the mining and agriculture sector as well as manufacturing since last year as lead arrangers,” he said.

Mr Chibiya said that Barclays would also be providing banking services to the delegates at the conference.

He said it was important to discuss energy at the conference as Zambia focused on diversifying the sector.

“Zambia is not unique and therefore it is important for the conference participants who will bring different people of different skills to discuss this area,” he said.

The AfDB  annual general meeting will run from May 23-27 at Lusaka’s the Mulungushi International Conference.

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