Zambian banks aren’t innovative. They’ve failed to design products to suit our economic context of high informality & limited formal jobs. They keep lending to the rich. Another reason poverty won’t end #nodignityinpoverty
To end poverty we need access to financial resources. To be able to send our children to school, to build homes and save for the future. Banks exist in every economy as financiers of such dreams, of course at a cost but not as expensive as it is in Zambia #nodignityinpoverty
In traditional economic theory they lied to us that banks play the role of financial intermediation: bringing haves and have nots. But in Zambia banks seem to give the little savings of citizens to those who already have enough while ordinary people lack funds #nodignityinpoverty
In my imaginations I used to think the new government will be tabling these conversations. But no, it’s business as usual. We are trapped in poverty, us, and our children after us. There’s no escaping. Systems continue to lock us in poverty #nodignityinpoverty
Wealth creation isn’t just abt Govt generating taxes and redistributing them. It is also about Govt facilitating for an environment, including in the financial system that empowers private citizens to pursue their aspirations without relying on Govt transfers #nodignityinpoverty
I challenge our financial sector leaders @mizingamelu and others to rethink their roles and how they can help us escape poverty. #nodignityinpoverty
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