Stanbic says MMD will win

Stanbic says MMD will win

Stanbic bank has ventured into predicting elections by announcing that President Rupiah Banda will win the September 20 general elections.

Stanbic is a branch of the Standard bank group of South Africa.

According to government controlled ZNBC, the research wing of Standard Bank says President Banda and the MMD will emerge winners of the 2011 elections, supported by the positive economic outlook.

The bank says the country’s per capita growth has been accelerating since President Rupiah Banda assumed office in 2008.

This is contained in the August 9, Standard Bank Group Africa Research report for Zambia.

The report however notes that the elections have put pressure on the kwacha which it anticipates to weaken as the political discourse gets heated up.

The bank expects the kwacha to move to K5,250 to one dollar.

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