of workshops, marked the end of phase i of the implementation programme of the risk management framework at the bank. following the end of the risk sensitization workshops the next stage required the implementation of the framework in the business areas. as mentioned earlier, the bank faced a number of teething problems in the implementation process of the first stages of the framework with departments having some difficulties in following written guidance that was being given by the risk management department. as one of the possible solutions to this, senior management agreed to the risk management department ’ s suggestion that phase ii of the risk management framework implementation process also be effected through workshops, targeting the risk liaison officers who are, by definition, the critical anchors of the approved risk management framework. this background therefore justifies the gathering that we have here today. ladies and gentlemen : your group, as risk liaison officers, alternates and risk coordinating officers, occupies and a plays a very important role in the governance structure of the risk management framework. you may wish to note that your group plays a function of a “ critical link ” between staff from your respective departments and the head of department who is, by definition, the risk manager. for this reason, the importance of your responsibilities should be very clear and need not be overemphasized. for those who might have forgotten their roles, i wish to encourage you to re - familiarize yourselves with the risk management and business continuity management ( bcm ) policies, where your respective responsibilities are clearly spelt out. having said this, the workshop you are attending today and tomorrow has the following key objectives : i. to explain the practical aspects of “ context establishment ” and the “ risk identification ” processes so as to ensure that you fully understand these initial, but critical steps, in the risk management process so as to enable you to assist your respective departments to complete these important stages of the process ; and ii. to remind you of your role and responsibilities, as risk liaison officers, alternates and risk coordinating officers, in the risk management framework. ladies and gentlemen : allow me to reiterate what i said during the risk sensitization workshops – the success of the bank of zambia risk management framework will in a large measure depend on how well this process will be understood and how well its implementation at departmental level will be facilitated by you. as risk liaison officers, alternates and risk coordinating officers for your respective departments, you will be expected to not only provide leadership and guidance to your respective departments on risk

aspect of manufacturing that we see as stimulating growth in future is increased processing of minerals, key being copper ( given the rapid expansion in copper output ) and precious stones. distinguished guests, the processing of copper into various high products at zamefa is commendable. however, there is still a lot of room for other investors to invest in the processing of copper and indeed gemstones and precious stones that are mined in the country and exported as rough stones. investing in downstream processing of gemstones and other minerals will not only enhance our export earnings but create employment for our people. government on its part will among other things facilitate improved access to capital and equipment, enhance skills, rehabilitate support infrastructure and facilitate linkages for marketing of processed gemstones and other minerals. mr. chairman, it is worth noting that the construction of zambia ’ s third cement company by zambezi portland cement and the planned establishment of an assembly plant by tata ltd of india, here in ndola are all welcome developments following improved confidence in our economy, which should boost growth and create employment. i would like to urge the business community to invest in similar ventures. i am positive that with improved macroeconomic stability there will be more investment in such productive activities. tourism distinguished guests, tourism is another of government ’ s priority sectors from which growth and employment are expected to be generated. one of the key aspects of zambian tourism is the increasing participation of locals in the sector through among other activities establishment of lodges that are complimenting the traditional hotels and offering services with a zambian touch. it is worth mentioning that tourism, more than any other sector, is labour intensive and provides jobs for local people in both rural and urban areas. in order to stimulate the potential of this sector, there will be need to facilitate access to affordable and sufficient credit, entrepreneurship ( private sector capacity building ) training, improved marketing and provision of the necessary support infrastructure. access to most of these tenets will enable the local small scale investors to provide competitive tourist services. ladies and gentlemen, may i also add that tourism should not be based on wild life ( visiting national game parks ) alone. here on the copperbelt, you have a unique opportunity to develop a tourism industry based on copper mining - e. g. going underground. collectively, we can also encourage and promote eco - tourism in much of rural zambia. energy sector mr. chairman, a growing economy needs sufficient, stable and affordable energy supply. i have here in mind the electricity sector