World Bank Country Manager Dr Kapil Kapoor has challenged the Zambian Government to use the global economic crisis as opportunity to create the right environment to attract Investment for longer sustainable growth.
Mr Kapoor said Zambia has tremendous economic potential given its location and natural resources which was not being exploited currently due to weaknesses in the policy environment.
Dr Kapoor said this in Kitwe yesterday at Edinburgh Hotel in a paper presentation titled the role of the World Bank in managing the Global Financial crisis at the Economic Crisis Impact on the Mining Industry International Conference organised by Caritas Zambia.
He said it would take Zambia between 20 to 30 years to build the economic wealth it used to have in the late 60’s hence the need for Government to take advantage of the Agriculture potential of the Country to stir the economy back to life.[quote]
He said Zambia has a lot of abundant land and the untapped Zambezi water basin which it must explore fully to promote agriculture activities in the rural parts of the Country were 90% live in abject poverty.
Dr Kapoor further said there was need for Government to boost growth in the Agriculture sector from the current one percent per year to meaningful figure if the poverty levels currently prevailing in the Country were to be reduced.
He noted that despite all these large expenditure on the Fertiliser support programme (FSP), maize yields have been declining while the growth of the sector is insignificant.
He urged Government to invest massively in Irrigation farming and other viable Agriculture projects if the poverty levels was to be reduced and not the Fertiliser support programme which was not adding any value to the sector.
Dr Kapoor observed that the majority of the Zambian people depend on Agriculture for economic survival hence the need to develop the sector.
And speaking earlier at the same function Professor John Lungu of the School of Business at the Copperbelt University called on the Government and various stakeholders to work together if they were to cushion the impact of the global economic crisis.
Professor Lungu said there was need for an acceptable economic agenda that would champion the cause of the Zambian people and not individuals.
He said Zambians had a tendency to champion their personal agendas and maintaining their rigid minds at the expense of national development.
ZANIS
yes yes yes yes I AM nambala 1!
Very very true
OK now let me comment.oh first let me read what this World Bank chap is saying.
Ba Moze mukuti boss?mwawuka bwanji,where has Baby C gone 2?shes queit recently….nine chale,jamaco,digital smoke,stripper,maestro,mwanawakwitu how are you comrades?abigail malama i miss yo poems.
Nothing new people! We still awe the world bank a lot of money and the diversification that has been preached since the KK days still is at square one.
F.T.J greetings !! Mwashibukeni ! Ba Moze mulikwisa kanshi? Baby C long time.
World bank policies are partly to blame for the current global economic crisis.
World bank policies are partly to blame for the current global economic crisis.
I have never heard this argument in my entire life. This is the first time I am hearing this. Please justify your statement. I am curious to know how the WORLD BANK did this.
LT which building is that
REPEAT:
World bank policies are partly to blame for the current global economic crisis.
I have never heard this argument in my entire life. This is the first time I am hearing this. Please justify your statement. I am curious to know how the WORLD BANK did this.
We Zambians are hard headed, recently we have shifted our focus from Mining to Tourism because we have seen that Mining has failed, but, the minute the mines pick up again we will abandon Tourism. We lack consistency , continuation, monitoring and evaluating of newly introduced policies to generate wealth for our country. We really need to catch a wake up and let go of copper. There are indeed several other ways we can generate revenue from our abundant natural resource, hats off Dr. Kappor.
Yes. . . i agree with Dr kapoor’s observation – it will take Zambia 30 to 40 years to regain the worthy it had in the 60’s . . . but with the current crop of leadership, who have no vision and are corrupt . . it will take us 1000 years if the Lord Jesus waits.
“He said it would take Zambia between 20 to 30 years to build the economic wealth it used to have in the late 60’s hence the need for Government to take advantage of the Agriculture potential of the Country to stir the economy back to life” In fact it will even take 80years if we make a mistake of electing uneducated people like chiluba and sata who just want to act on impulse without any long term plans, say 10 to 15 years. We can see that by just considering statements like “developing zambia in 90 days”, or that “GRZ has no business in business”. These people devalued human resource development saying it was a waste of money and people like sata will never think that it is through an educated population that you develop.
#10 Conservation Activist, the reason is that we do not have long term plans. Apart from shiftings in focus on mines, you may recall when oil prices went up we said we had oil in our backyard but up to now nothing is happening. But wait when the oil prices go up again, oil exploration will be the topic. Such shifts on oil have even given the chinese an advantage to acquire land for biofuels usin pipo like Mr Lovemore Simwanda. And knowing their persistence and endurance, they’ll even get 5millionHa whose use they’ll eventually change because biofuels aren’t the answer, but GRZ will just be mute. We need to start training people in strategic fields now that a lot of professors have not been productive and are in their evenings. For that to happen you do not need Sata for a president.
This Kapoor guy is full of crap.Zambia’s GDP (whatever that is) is largely dependent on the mines.At the rate we are going, the 20 to 30 years will only see our mines time remaining in their life spans reduced to levels that makes it even harder to get to the “60’s” than it is now.This idea of opportunities in crises sometimes does’t work.
i have always said it , Agriculture and tourism. But what do people do? just wasting time pointing fingers at each other about who said what about who and who insulted RB……. Come on people!
#8 Keichi
I was also wondering which building that could be. I imagined that maybe Hotel Edinburgh might have had a face lift! But scrolling on the picture gives you ‘imf’ so my guess could be that its some IMF building somewhere
Dongo na Sundu, Hey yo name reminds me of madimbi kukaya.
On the topic, it is true Zambia is a rich country but we have failled to utilise our God given natural resources. Mitu kukula but zelu padoko. God give our leaders wisom.
Question
Who controls the World Bank?
# 18 the building is not in zed, its IMF building in washington DC..
Does anyone know we are buying 100 hearses instead of ambulances from china. Seems to me like we have changed our focus to funeral support instead of life support. lets get rid of these chaps.
i dont know how to recommend this Dr Ka Poor Ka Pil. I will send my nephew Leonard to shake hand with him. For me you have tourched the right button. There has been less emphasis on Agric from our political leaders. A Zambian farmer is on other hand ever willing for farming but our policy makers have been a let down. You as world BAnk official, i feel on the other hand you have some chance to influence politicians to take the right course of action.Sometimes, go alittle bit out of the way give conditions on your funding, that unless certain projects were undertaken in a specified time, you would not give funding. The fact that you too work from Zambia, you have to be concerned because these things affect you and your families aswell.My poor Uncle in the village relies farming for a living
Kapoor is right. But do we need an outsider to tell us this. This must already be known by Zambians in leadership. If they didnt know, then we are in trouble. Subsidizing consumption should not be for the long term. We must invest in production.
Looks like the biggest problem we have is that we lack ability to manage ourselves. We have had 4 presidents and 40 years of independence. Surely we could do better than what we have. the problem is in the head.
How can we utilize our natural resources, our priorities are disjointed, how does a country so painfully misplace its priorities, ignore suffering citizens to buy a hundred hearses. $29,000 each, we have unemployment why not that money could not be directed to such a cause, mighty Jesus knows. And zambians back home can’t question that. Anywhere else people would demonstrate. Let the dead bury their own dead! Arise Zambia or die Zambia!
Greetings F.T.J, Jamaco, Nine Chale, Free market fimo fimo, The whole LT contributors and the ever amazing 1984. Fistly Dr Kapil Kapoor we already know what the problem in Zambia is, people talk too much, just like the world bank. Why can the not for once hold an out door meeting for twenty minutes and broadcast it to the whole nation and tell them what is needed to stir growth. As for the global crunch, companies can cut of unnecesary spending e.g on bonuses, vacation pay e.t.c As for the nation entirely, we need to diversify what we eat and have the ovrment make food accessible by putting better competitive bills for suppliers and small scale farmers. What people need is food, Shelter, Education and our always ever covering God. AS for Zambia regaining its 60′ s aura it can be done in
less time than what the world bank stipulates. Ba world bank have been singing to us for years mwe sima lema?
How long have Zambians known this Mr Kapoor said Zambia has tremendous economic potential given its location and natural resources which was not being exploited currently due to weaknesses in the policy environment without the MMD GRZ making any useful policy changes to better lives of Zambians?
I hope Zambian voters have taken note of the failures by the MMD GRZ so that we as a people can give the m a red card in 2011 during the upcoming elections time.
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The opposite and no less dangerous error is that belief in Christ releases men from keeping the law of God; that since by faith alone we become partakers of the grace of Christ, our works have nothing to do with our redemption. – EG White.