, 781 mt, respectively. during the first half of 2011, total copper output at 414, 984. 5 mt, was 4. 0 % higher than 399, 062. 0 mt produced during the corresponding period of 2010. similarly, cobalt output was 4, 352. 7 mt, 8. 5 % higher than 4, 012. 8 mt produced in the first half of 2010. this outturn was largely explained by the increase in the scale of production by the mines coupled with the rebound in copper prices, following the relative recovery in the global economy. b. manufacturing performance of the manufacturing sector in 2010 and the first half of 2011 have been favourable with a 4. 1 % growth in 2010 ( 2. 2 % in 2009 ). growth has largely been driven by agro - processing ( food & beverages ), including production of nonmetallic mineral and fabricated metal goods, chemicals, explosives and construction materials ( such as cement ). growth in agro - processing has been supported in part by the last two maize bumper harvests, 2010 ( 2. 8 million mt of maize ) and ( 3. 0 million mt of maize 2011 ). strong construction activities have stimulated strong demand for manufacture of construction materials particularly cement and cement - related products. total cement output by the country ’ s three manufacturing plants ( lafarge zambia plc, oriental quarries and zambezi portland plc ) rose by 37. 9 % to 1, 126, 728 mt in 2010 from 817, 223. 0 mt in 2009. further, during the first half of 2011 cement output at 617, 115. 2 mt was 36. 0 % higher than the 453, 791. 0 mt produced in the corresponding half of 2010. c. multi - facility economic zones zambia ’ s goal catalyzing industrial and economic development through increased activity in the manufacturing sector has led the country to embark on the development of multi - facility economic zones ( mfezs ) in selected parts of the country. among the mfezs are : – the chambishi mfez ( construction is advanced ) being developed in partnership with the chinese government with a commitment of over us $ 1 billion ; – two lusaka mfezs ( preparatory phases ) and one industrial park. one of the lusaka mfezs, the lusaka south, will be developed in cooperation with a malaysian firm at an estimated cost of us $ 1 billion ; bis central bankers

caleb m fundanga : strengthening the zambian banking sector address by dr caleb m fundanga, governor of the bank of zambia, at the commissioning and official opening of access bank ( zambia ) ltd, lusaka, 24 september 2008. * * * • h. e, acting president of republic of zambia, mr. rupiah banda m. p ; • honourable ministers ; • h. e nigerian high commissioner to zambia ; • access bank group deputy managing director ; • access bank zambia chairman ; • access bank zambia managing director ; • distinguished guests ; • ladies and gentlemen. i am greatly honoured to be given this opportunity to make brief remarks at this formal commissioning and opening of access bank ( zambia ) ltd. i wish to extend a warm welcome to all of you gathered here today, particularly those who have travelled from outside the country. your excellency, honourable ministers, today ’ s event is a crowning moment and demonstrates the fruits of the economic reforms that the government has continued to implement in the financial sector in particular and the economy in general. indeed it is a landmark achievement in the government ’ s concerted efforts aimed at attracting foreign investors. it is also gratifying to note that access bank zambia limited is the first bank to be registered in the country since 1999. i am also happy to inform you, ladies and gentlemen, that the bank of zambia is currently reviewing other applications for banking licenses. in this regard, we expect a few more banks to be registered in the near future. this interest we are witnessing in the financial sector is due to the favourable economic environment that has been created in the last seven years. during this period, the economy has performed relatively well as reflected in the overall macroeconomic stability, which has been underpinned by sustained positive growth rates in the real gross domestic product averaging over 5 % in the last five years. i do hope that access bank zambia, will play a special role in taking this growth to an even higher level. in the financial sector, stability has continued to characterize the financial system with all banks being adequately capitalised and non - bank financial institutions performance being satisfactory. i am convinced that this stability, among other factors, will continue to contribute to the attraction of international investors such as access bank to invest in zambia. it is my hope that with new entrants in the banking sector, the provision of financial services to the public will become more competitive both in terms of the variety of services offered, efficiency and pricing. the