sub - chest run by barclays bank zambia plc. this has been exemplified by fewer deposits at the sub - chest each successive period. our investigations have revealed that this is driven by the high intensity of cash transactions within the region, largely because very few people, particularly the small - scale farmers, have bank accounts. we implore you to encourage the use of non - cash payments for your transactions. it is not only a safer means of transacting but it also enables the authorities to keep track of the level of economic activity in the area. in this regard, we also ask that the commercial banks design products and services whose cost structures are suitable for the economic environment of the region. financial institutions in general need to offer structured financing that best suits the zambian economic landscape. it is only through such activities that we will see further developments in the whole zambia rather than the few areas along the line of rail. mr. chairman, ladies and gentlemen, we have come to chipata not only to tell you what we expect of you but also to listen to what you expect of us. i therefore declare this meeting open and invite you to make your contributions. i thank you!

to be the major economic activity in the country. following the liberalisation of the sector and subsequent privatisation of the mines, government has continued to facilitate mineral exploration by the private sector and created an attractive investment environment through the maintenance of macroeconomic stability. this has sustained renewed interest in mining, reflected in a complete rebound in the mining sector on the copperbelt and north western province start up of new mines. new projects such as the konkola deep mine, lumwana mine and nickel mining in the southern province have come on board in addition to other mining initiatives going on in most provinces of the country. another key development in the sector has been the revival of zinc production, once, one of zambia ’ s metal exports in the 1970s. sable zinc of kabwe ( owned by metorex ) has commenced processing the mining dumps in kabwe. ladies and gentlemen, although investment in the mining sector requires massive capital by large conglomerates, the majority of our citizens are increasingly involved in the sector through the supply of goods and services to support the mines. however, the main challenge to the growth of this sector has been the availability of finance. most companies struggle to find finances to meet their contract obligations. the need for financing is immense especially as the mining sector is growing year on year and will need to acquire new equipment and spare parts as the mining companies invest heavily in the development of new mines. it is gratifying to know that the usd 50 million facility in favour of the zambian mining services companies being signed today, is expected to assist major players in the supplies and services sub - sector of the mining industry to execute contracts with mining companies. i am also reliably informed that the facility will allow eligible companies access financing by assigning receivables for execution of contracts such as extraction and transportation of waste materials, transportation of copper ore from the pits to the smelting plants and contract mining. i have no doubt that the facility will go a long way in supporting zambian companies grow and actively participate in the economic development of the country. the fund will not only augment the supply of goods and services to the mining sector but also introduce important institutions that are critically needed to ensure that the supply system in the sector is efficient and sustainable in the long run. the usd 80 million in favour of the export fund of zambia has come at a time when the government is increasingly promoting the diversification of the economy through export led growth. strengthening of the external