FINANCE and National Planning Minister Dr Situmbeko Musokotwane says government has not made any tangible progress yet on its plans to establish a new Development Financial Institution. In July this year, the Bank of Zambia took possession of the Development Bank of Zambia (DBZ) saying it had determined that the bank was under capitalised. In the same month, Dr Musokotwane revealed that government planned to establish a new Development Financial Institution, which would be incorporated under the Companies Act to facilitate the inclusion of private equity. “…the government of the Republic of Zambia recognises the essential role that development finance plays in economic development. Therefore, the government through the Ministry of Finance and National Planning and supported by the Bank...