By CASSEY KAYULA –
THE Capital Markets Association of Zambia (CMAZ) has called for a budget that will reinforce stability of the capital markets in the country.
CMAZ president Muchindu Kasongola said capital markets played an important role in the mobilisation of resources for long term investment through intermediation.
He said this in an interview in Lusaka.
Mr Kasongola said the growth of any economy was dependent on the development of various business units that were operating within the economy.
“As an association, we are expectant of the budget a lot of what goes in has implications on how capital markets progress.
“We want a budget that is pro-business, a budget whose pronouncement are not disruptive to expectations of the business environment,” he said.
Mr Kasongola said for businesses to grow , there must be access to long term finances and that’s where capital market comes in.
“We want to see that there is new focus on trying to reduce the cost of doing business and the continued reduction of interest rates.
“We are also targeting the same pool of investors to invest in companies, we are operating in an environment with the highest interest rate and it is becoming very difficult for companies to access affordable goods,” he said.
He said capital market is where the country should be raising finances because they provided a platform where money can  be allocated efficiently to the projects requiring funds.