As you are aware, the decline in the copper prices on the world market has negatively affected the operations of the mining sector, leading to downsizing and job losses. Contributions by the mining sector to Government revenue is also expected to decline in the 2009 while foreign exchange in the market has declined. The unprecedented high prices of fertilisers and other agricultural inputs also contributed to the current high food prices. These and several other factors have resulted in the depreciation of the Kwacha against other international currencies as well as high inflation which closed the year at 16.6% from 8.9% in 2007. Hon Minister, the economic outlook may not be rosy now. The challenges may be huge but at the same time not insurmountable. You will agree with me that as a country with vast arable land and water resources as well as a huge market of eight neighbouring countries, we cannot afford to sit and wait for assistance from other countries. We need to work extra hard so that we can feed our children as well as export the surplus to neighbouring countries. We need to look within ourselves and determine how each one of us can help overcome the challenges that we face today. It is therefore my appeal to all of us present here today to show more commitment to the growth and development of our country.
Infact, not so long ago on December 10, 2008, I was invited to officially open the Standard Chartered Solwezi Branch. I have no doubt that with the current expansion strategy; the bank will reach greater heights. 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, it being such a leading bank in Zambia. 2  BIS Review 4/2009  Hon. Minister, it is my sincere hope that the Falls Park Agency will live up to the expectations of the Livingstone community. Once again, I would like to thank Standard Chartered Bank Zambia Plc, through the acting Managing Director, Mr Bairstow for inviting me to witness the official opening of this agency. I thank you. BIS Review 4/2009  3