about your role as insurance brokers in economic growth, as the remarkable economic gains that i have outlined above would not have been possible without your contribution. in my humble understanding insurance brokers are independent intermediaries who provide the link between clients and insurance companies. by performing this function, your firms are important economic agents acting in the best interest of clients by providing them with sound and impartial professional and practical advice regarding insurance services. the intermediary role that you play undoubtedly makes you critical in the growth of the zambian economy in general, and the insurance services sector in particular. the advice that you provide to your clients is important because it promotes a more competitive market within the insurance industry. this may includes an analysis of the most suitable firm, the various types of cover on the market and importantly a fair price for the given product. in some instances, you even go as far as carrying out surveys on various insurance products, negotiating prices of those products for your clients and presenting reports to insurance underwriters. ladies and gentlemen, with your contribution, and that of other stakeholders, zambia could easily achieve the national socio - economic goals in the medium to long - term. every economic unit needs the services of a booming insurance sector, through your brokerage, for them to contribute more to economic growth and development. in this regard, i wish to urge you to continue facilitating and promoting investments in the insurance sector. mr chairman, allow me to point out that, in order for you to contribute positively to the development of the insurance sector in the country, it is imperative that you carry out your work in an honest manner, maintaining the highest degree of integrity, only then can your firms become credible enough to attract business from the public and private firms operating in zambia. one of the most important attributes of a credible insurance broker is the ability to remit funds to insurance companies on time. as intermediaries between clients and insurance companies, you are entrusted with a heavy responsibility of looking after other people ’ s funds. clients pay premiums due to insurance companies through insurance brokers. to enhance credibility of your institutions and contribute to the growth of the insurance industry, i would like to urge you to ensure that you remit your clients funds to insurance companies on time and as agreed. delays in remitting funds may tempt you to put such funds to other uses which may lead to default and erosion of the integrity upon which your intermediary role is based. mr chairman, zambia has come

and development of our country by ; • opening more branches, especially among our rural communities ; • installing more atms ; • providing more loans that will increase the productivity of our economy ; and • encouraging more zambian to open bank accounts through provision of easily accessible and affordable products and services. these developments, ladies and gentlemen, will greatly contribute to the expansion of economic activities, which will have a positive bearing on poverty alleviation. i am pleased to observe standard chartered ’ s commitment to growth and reinvestment. however, you will all agree with me that those who have more should do more. i therefore look forward to seeing more from standard chartered bank zambia, as it is one of the leading banks in the country. mr chairman, let me conclude by thanking you for inviting me to officiate at this important event. it ’ s now my pleasure to officially open the new branch of standard chartered bank zambia at crossroads shopping mall. thank you.