Bank of Zambia (BoZ) Governor, Caleb Fundanga, says Zambia should increase its focus on economic diversification in order to achieve the set targets in the Vision 2030.
Dr. Fundanga said government and stakeholders should now concentrate at improving the viability of agriculture and other sectors apart from mining in the development of the national economy.
He said there is need to improve productivity in agriculture so as to increase agriculture products for exports to the international markets.
He said Zambia has the potential to produce cereals and other grains such as rice, wheat and maize for export.
Dr. Fundanga was answering questions from Journalists during a press briefing held at the Pamodzi hotel Lusaka yesterday.
He said irrigation farming is one reliable option for increasing productivity in the agriculture sector adding that it should encouraged in all parts of the country.
He said the Central Bank is working hard to to help improve the microeconomic stability through reduced inflation and interest rates in the financial sector.
Dr. Funadanga advised Zambians to invest in various sectors of the economy in order to effectively contribute to efforts of reducing poverty and securing national economic growth.
Dr. Funadanga cautioned Zambians to desist from entrusting the investment in the economic to foreign investors.
“Let’s do away with this syndrome that funds from abroad will develop Zambia. Then where are our human resources, expertise and knowledge. I call upon Zambians have the spirit to do things for themselves to develop this country. Agriculture is more profitable and it has the potential to replace mining,” Dr. Fundanga said.