© Synovate Ltd. All rights reserved. The concepts and ideas submitted to you herein are the intellectual property of Synovate Ltd. They are strictly of confidential nature and are submitted to you under the understanding that they are to be considered by you in the strictest of confidence and that no use shall be made of the said concepts and ideas, including communication to any third party without Synovate’s express prior consent and/or payment of related professional services fees in full. Steadman now Synovate Zambia Business Leaders Confidence Index Survey Conducted: 1 st – 30 th November 2009 Presentation Date: 10th December 2009, Golfview Hotel, Lusaka Project #:000000

1 INSERT FILE PATH © Synovate 2009 Steadman now Synovate Introduction The Business Leaders Confidence Index collects information on business leaders’ perceptions towards the economy in general and their sectors specifically across selected African countries.

2 INSERT FILE PATH © Synovate 2009 Steadman now Synovate Research Methodology Target group 100 MDs, Directors, CEOs drawn from cross section of sectors in Zambia Self – completion Questionnaire Data collection dates 1 st - 30 th November 2009 The study is also carried out in Kenya, Uganda, Tanzania, Ghana and Nigeria Data Collection Africa Coverage

3 INSERT FILE PATH © Synovate 2009 Steadman now Synovate Sample Structure SectorRespondents (November) 1Agriculture11 2Automotive9 3construction9 4Financial Services13 5Hotel & Tourism10 6ICT/Media/Telecommunication10 7Manufacturing13 8Services15 9Others (Energy& Mini10 TOTAL100

4 INSERT FILE PATH © Synovate 2009 Steadman now Synovate Computing BLCI BLCI is a composite index calculated from 3 key indicators; Current economic conditions vs. 6 months ago Economic expectations 6 months ahead Own industry expectations 6 months ahead

5 INSERT FILE PATH © Synovate 2009 Steadman now Synovate The percentage of Respondents in each Sector July Base = 100 respondents Base = 80 respondents

Zambia’s Economic Conditions

7 INSERT FILE PATH © Synovate 2009 Steadman now Synovate Current Economic Conditions Base = 100 respondents 44% of the respondents rated the economic conditions in Zambia to be moderately & Substantially better than they were 6 months ago compared to 29% in last survey. However 25% still think the economy will remain the same. How would you rate the economic condition in Zambia today as compared to 6months ago? July Base = 80 respondents

8 INSERT FILE PATH © Synovate 2009 Steadman now Synovate Future Outlook Base = 100 respondents 53% of the Business Leaders, foresee Zambia’s economy improving in the next 6 months, Compared to 49% in the last survey. However 27% still think it will remain the same. How do you expect Zambia’s economy to perform in the next 6 months? July Base = 80 respondents

Economic Conditions of Zambian Sectors

10 INSERT FILE PATH © Synovate 2009 Steadman now Synovate Current Economic conditions in Zambia (Sector) Base = 100 respondents 62% of the Business Leaders are of the view that their industry performance is better. This is a significant increase from the same view held in July: 32%. How would you rate the current overall performance of your industry or sector as compared to 6months ago? July Base = 80 respondents

11 INSERT FILE PATH © Synovate 2009 Steadman now Synovate Future Outlook for all sectors Base = 100 respondents 62% of the Business Leaders are optimistic that the performance of their own industry will be better in the next 6months. Last survey only 32% held this view. How do you expect your industry to perform in the next 6months? July Base = 80 respondents

12 INSERT FILE PATH © Synovate 2009 Steadman now Synovate Base = 100 respondents Business Leaders Confidence Index – Zambia Construction sector; which registered the highest index points stands at points higher than the overall index while Automotive sector, which registered the lowest index points stands at points below the overall confidence index.

13 INSERT FILE PATH © Synovate 2009 Steadman now Synovate Base = 100 respondents Zambia BLCI Index – Trend BLCI Zambia Trend Zambia’s Business Confidence Index has gained more than 10 points in the past 3months (last Survey conducted in July). It is however below level registered in July-07.

14 INSERT FILE PATH © Synovate 2009 Steadman now Synovate Base = 100 respondents Global Economic Crisis - Mitigation Strategies Cost cutting remains the preferred strategy at 81% (last survey 71%). Expansion into new LOCAL markets 55% (last survey 49%) Launching of new products and services 45% (last survey 50%). As a result of the global economic turmoil, which of the following, if at all, have you done to mitigate this turmoil’s impact on your Company performance? July November Base = 80 respondents

Attractiveness as an Investment Destination for Foreign Investors

16 INSERT FILE PATH © Synovate 2009 Steadman now Synovate Attracting Foreign Direct Investors (FDIs) Base = 100 respondents How attractive is Zambia today as an investor destination to foreign investors? July November Base = 80 respondents Business Leaders maintain their high level of confidence, that Zambia is an attractive destination for foreign investors

Factors that determine Foreign Investment in Zambia

18 INSERT FILE PATH © Synovate 2009 Steadman now Synovate Factors attracting foreign direct investment in Zambia Base = 100 respondents Top of the list in terms importance of determining FDI in Zambia is domestic economic situation, at 35% followed by economic policy and tax investment incentives. The domestic economic situation include currency stability, inflation, prices etc.

Impact of Politics on Zambia’s Business Environment

20 INSERT FILE PATH © Synovate 2009 Steadman now Synovate Politics – Impact on Business Environment Base = 100respondents Looking at the political landscape in Zambia at the moment, to what extent do you think its conducive for doing business? Base = 80 respondents Political climate remains moderately conducive for doing business.

The Citizen Economic Empowerment Fund

22 INSERT FILE PATH © Synovate 2009 Steadman now Synovate The Impact of the Citizen Economic Empowerment Fund 61% - Impact of Economic Empowerment Fund is viewed as beneficial to Zambia’s overall business environment.

© Synovate Ltd. All rights reserved. The concepts and ideas submitted to you herein are the intellectual property of Synovate Ltd. They are strictly of confidential nature and are submitted to you under the understanding that they are to be considered by you in the strictest of confidence and that no use shall be made of the said concepts and ideas, including communication to any third party without Synovate’s express prior consent and/or payment of related professional services fees in full. Steadman now Synovate Thank You Our Curiosity Is All Yours. © Synovate 2008