BEST BANK
Standard Chartered Bank Zambia
Zambia has emerged as one of the most conspicuous sub-Saharan African success stories in recent years. Real GDP grew by 5% in 2004, the fifth successive year of solid economic expansion and well ahead of official expectations, which were closer to 3.5%. Inflation, meanwhile, was 17.5% versus an expected 20%.
That healthy economic backdrop has supported earnings for foreign and local banks alike, with Zambia National Commercial Bank (Zanaco) – which the government is committed to privatizing – recently reporting profits in the first quarter of 2005 of K15 billion ($3.2
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