The Economics Association of Zambia (EAZ) has said foreign trips undertaken by President Rupiah Banda are calling the world’s attention to Zambia’s investment potential and called on critics to be objective in their analyses.
EAZ president Noel Nkhoma said former Defence minister George Mpombo and other critics of the president should remember that Zambia was not an island and that the president had a duty to market the country abroad.
He said in an interview in Lusaka yesterday that the country would in time witness the positive fruits of President Banda’s investment-seeking trips, and commended him for inviting local business executives.
“He [Mr Mpombo] is wrong. In his latest trip to China, British Prime Minister David
Cameron travelled with several business executives to market their products and set up joint ventures.
“Has he heard anyone in that country condemning David Cameron? As Zambians, we must be objective,” Mr Nkhoma said.
He said the benefits for the country of foreign trips by President Banda would go up following his decision to invite local business executives to set up joint ventures with foreign investors.
Mr Nkhoma advised the business executives travelling with the president abroad to find a platform to share the benefits with other Zambians and that way, their interactions with foreign businesses would add more value to the people in the country.
Some business executives travelled ahead of the president on his trip to Brazil to engage business firms in that country for joint ventures and to market their products and services.
“We are very pleased that the president has taken heed of our advice that he should invite businessmen and women on these international trips.
“They will help open doors of opportunities for our businessmen to engage in meaningful ventures,” he said.
He said Zambians would in the near future appreciate Mr Banda’s trips more than they currently do because more jobs would be created as investments increase.
[pullquote]“We are very pleased that the president has taken heed of our advice that he should invite businessmen and women on these international trips.
“They will help open doors of opportunities for our businessmen to engage in meaningful ventures,” he said.
[/pullquote]
Mr Nkhoma wondered why Zambian politicians were condemning initiatives that were bringing value to the economy while in other countries similar thinking was being embraced.
He also called on President Banda to issue a decree that contracts below a certain threshold should be exclusively for Zambian firms in an effort to empower them like the situation was in Botswana.
Mr Nkhoma said the law providing for such modalities of empowering Zambians existed in the Citizens Economic Empowerment Commission Act but had not been implemented.
During a visit to Brazil, presidents Banda and Lula da Silva expressed gratitude that the bilateral relations between the two countries were enhanced by the signing of eight agreements and two Memoranda of Understanding (MoU) during President da Silva’s visit to Zambia in July this year.
Brazil and Zambia also signed an MoU on the establishment of a mechanism of political consultation aimed at creating a permanent channel of bilateral dialogue.
President Banda addressed a Brazil-Zambia business forum in Sao Paulo and called on Brazilian business investors to consider setting up businesses in Zambia because of its strategic location and positive investment climate.
He stressed the need for foreign investors to form partnerships with local investors.
[ Times of Zambia ]
Nkhoma tusha mudala.
Noel, when did you become RBs spokesperson, we know you are trying to get back governments accounts into Finance Bank but sorry your efforts are just but in futility. Useless Mathani’s cholaboy
Nkhoma + Banda = Umodzi kumawa
Last time RB was in Swaziland parading his beer belly and drooling at kids so young they would be blinded to see his nakedness,\; how did Zambia benefit from that!!!
Nkhoma,if you cant beat them just join them,we know your type,bamusela kwakaba imwe
Zambia is developing because of RB’s commitment to the nation. RB is traveling all over in order to bring development to the nation. Viva MMD
Nkhoma please you are embarassing EAZ.Leave that to cadres.What kind of Investment can honestly come from Namibia,Swaziland,Chipata,Mpulungu,Turkey,Congo etc?
You can’t compare the UK & Zed.The UK’s business execs have real business tentacles all over and bring loads of profits back to the UK thus justifying travel with the PM.On the other hand,zambian businesses have failed even on their own turf(zamtel,zambia airways etc)not to mention lack of any zambian businesses in the region(like nigeria,sa or kenya have done) Thus this trip by zambian “businessmen” was sightseeing at taxpayers expense.
Balelila pamo atase….which economists? ECA is just a bunch of fack economists. How come their economic advisory impact has not been felt on the ground this far? They are just happy that they are party of the entourage each time ALA B travels capwa!!
Balelila pamo atase….which economists? ECA is just a bunch of fack economists. How come their economic advisory impact has not been felt on the ground this far? They are just happy that they are party of the entourage each time ALA B travels capwa!!:-\”:-\”
correction: EAZ not ECA…..
I believe this is not the official position of the EAZ but Mr. Nkhoma’s personal opinion.
The EAZ needs to rethink having this man as its president. He is an embarrassment to the respected institute.
Mr Nkhoma, as an economist u shud be able to sustantiate, not just issuing empty statements like al others cadres! You shud be able to state the cost and approximate the possible benefits from those trips, otherwise your words lack substance. Da visting of David Cameroen to China doesnt justify our president’ endless trips. Majority of Zambian people are living in extreme poverty, others are dying due to poor medical facilities e.t.c. So the cry for the zambian people is that some money could be saved from those trips and be spend elsewhere, its about opportunity cost. If we were as developed as Britain, we would also like to have our presido tour the world and get exposed, but we cant afford that!!
Smoothcriminal
I find your comment strange.So it means as long as one is from the East,and their position is in favour of RB,then its Umodzi kumawa as you put it? I thought Noel nkhoma was speaking as EAZ President and not as an easterner.When are we going to first analyse somebody’s statement before talking about his roots(tribes,surnames etc)?
I appreciate the fact that economics is not a scientific field but what I fail to appreciate is the low level arguments economists tend to advance on issues like this one. The conclusions this chap draws are devoid of any logical or analytical framework. It is as good as daydreaming even if it were true.
I’m not blaming you Mr. Nkhoma but I will blame the one who allowed you to put your personal opinion on air. Here you speak as if you are not a economist who knows that 1 + 1 = 2. How much does RB spend for his tours in a year and how many income do we get in zed?? ameshi bapima nobunga. Next time when they give you chance to say anything here give us the economic growth after every trip.
That’s Noel Nkhoma’s view, not the view of the EAZ. So that article should be titled “Noel Nkhoma backs RB’s foreign trips”
Sharp Shooter
Im not suprised that you find my comment strange;though im from the east,fact still remains that he’s from the east
Zambian economists and lawyers are a bunch of letdowns and turn coats.No wander Zed is not moving forward as far as development is considered.Only an ignorant person can support RB’s useless trips…
#14
Tamumfya guys,I mean how can the economy grow or indeed be measured every after a trip?Iam sure you enjoy the 90 days Satanomics..
Seriously guys mwalifulwa anything positive you turn negative i wonder what world you leave in
For your information economies that have thrived have not been run by a government but by the business comminity people who are actually able to influece government decisions.
In African you only want the government to bring everything to the table in Zambia its worse you want to be followers instead of leading.
Like Mr Nkoma put it, its a system being embraced but you chaps would rather wait, see if it works else where then condemn them for not doing it themselves arrrrrrrrrrrrrrrrghhhhhhhh
There has never been any president as committed to this nation as President RB. He genuinely wants to see this nation develop and it is a shame people are undermining his efforts to bring meaningful development to this nation.
On this issue, I support EAZ. It is like if you own a shopping complex, you would want a big brand name like Wal-Mart to set up in your complex. In fact you would even be willing to charge them lower. That way, they bring customers and increase traffic and if traffic is up, more shops want to set up at your complex and you can charge those shops higher.
In this case, the President attracts businessmen and women and Zambian entrepreneurs use this to market their products as well as form joint ventures. Those business forum’s are not for nothing.
have you ever heard Sata talking about development ideas or issues ???
#18 you have missed my point, its not satanomics as you may call it, I was talking about a year growth. Don’t bring politicts here. Think of your brothers who are down there in zambia.
#22,give Sata a chance and u see that he is having those ideals, he can’t just disclose them now. #14. 1 1=3, hope u know what i mean with this. But sum1 won’t get it, good day.
Zambia will remain poor (poorest), and our presidents (whoever you vote) will always rule us to injury until the Lord comes! Its now 46 yrs since Zambia was born, and since then, people have been dreaming about development, I cant see it happening in my life time. What I’v observed instead is that those in power and all the beneficiaries will always want to hold on to power while those not in gov would do anything in their means to ascend to power, all for selfish reasons. all this happening while the majority of the Zambians are walloping in unprecedented extreme poverty.
Development will ever be a pipedream in Zambia owing to luck of priorities and spending carelessly.What investment are we making in education and other social sectors such as health?Look at our so called higher institution of learning.Do we call that education or confusion?Students have to fight for a small space as if its Scramble for Africa.Without proper investment in education,health and Agriculture,Zambia shall ever be in poverty.It is not the number of times that the president will be in air,it’s pragmatic leadership that will execute development.What has the president achieved in his so called foreign trips?Nothing to write home about.
Noel, Noel, Noel..don’t embarrass yourself. You should leave such commentary for MMD cadres. LT has a multitude of MMD sycophants all too willing to embarrass themselves in such a fashion as aptly demonstrated by comments at #21.
Iwe Nkhoma David Cameron doesnt spend 60% of his time out of the country so yo comparison is misplaced.. We Zambians do not object to RB’s trips but the frequency is what is alarming. They should also tell us how much these cost.And there are some trips which he could delegate or completely do away with
travel mr president market our country all the presidents in the world are doing the same dont listen to wat the fools putting up comments are saying tabasambilila it takes money to make money viva mmd
With economists like these, which country needs enemies? I actually thought this lot will be more sensible than the lawyers who have proved to be the most stinking vultures, but then, I was wrong.
#20 ba Chola: private investment thrives when a government creates an enabling environment for private money to thrive. Have you read the issue on the BBC about Quantum Minerals and the DRC? The Congo has told them to pack their bags because the did not respect the rules and regulations of investment in the that country. Back to Zambia: you have a government that does not want to collect money from Copper; but is happy to get bribes for their elections through their party. You have KCM busy bribing politicians in government while services are not being delivered. You have Zambian investors building hotels without getting any rebate on tax for their projects; yet foreign investors get a free ride for 10 years; is that the case in the UK?
These so called educated people running the country have let us down big time. They cannot reason properly because they have been compromised. Too greedy!! they want to eat everything while our parents wallop in poverty. If Kaunda was as greedy as Chiluba and Banda, we would not even have been educated to the levels we are; we wouldnt have been internationaly employable. We all need to clean our ears; remove these chaps. In the end, if we dont, we will all pay a heavy price for neglecting fellow country men and women. We the poor will rise one day, tamwakafilye ifyo muleiba.
PATHETIC JOB SEEKER. How does a supposed intellectual with (hopefully) 5 senses support such irresponsible misuse of public funds? I question the credibility of the economics body that this kaponya in a suit is heading. Where in the world have you known of a head of state who literary lives in the air?? That guy’s trips gobble so much money to buy CT scans in all district hospitals and provide all those living with HIV the much needed antiretovirals in a year. If there are still genuinely qualified economists in Zambia, please impeach this riff-raff immediately. Nonesense!!!
bear with me guys. banda is eastern. i am eastern. could i diss a brother?
ma rubbish. Noel Nkhoma no need to justify stupidity! Wasting our money, no one needs to see your face or hear your voice RB. In this day and age as an investor all I have to do is google Zambia. Guess what the minute I see those dirty flooded UTH photos, I ain’t coming there! Fix the problem first at home then only can you go out and invite foreigners.
What is the point of embassies, if they cant market the country close them down. Even Zambians abroad can market the country without RB stepping on a plane. But fix the bloody country first!
The EAZ comment sounds like one coming from an MMD stooge. They should talk about Bharti Airtel’s crooked investment tactics instead of praising proven foolishness.
They should support Investment analyst Paul Kalumba who accused SEC of colluding with Bharti Airtel to suspend trading of Zain Zambia Plc’s shares for a long time since June 18, 2010 to raise desperation levels among local minority investors and ‘force’ them to sell their position. He was very incensed to learn that when Zambians paid K640 per share, they are being offered K710 per share, in other words they are being offered K70 premium per share.
This converts to roughly 11 per cent profit. Now does it make sense to service a loan at 30 per cent and yet receive 11 per cent profit while MTC walks away smiling from…
Economic Association of Zambia (EAZ) has a president who is not a qualified Economist and least has no Degree whatsoever. Its like Law Association of Zambia (LAZ) electing a non Lawyer as its president what would you expect to come of of their mouth..nonsense. The EAZ president is an MMD cadre and going extreme to win State House favours..more so even after betraying his kingpin Mahtani..
Nkhoma i dont even know what kind of an economist you because your thinking is narrow and absurd!!
Kafulo mulilwisha ba Noel?We agree the president can travel but not what a Banda is doing.
# 38, you have hit the nail on the head. Noel Nkhoma is not an Economist and does not have a degree in the field. It is really sad to see professional bodies such as the EAZ being transformed into political platforms when the focus should be on providing objective opinions and enhancing economic knowledge of citizens.
#38
Tell us more about Nkhoma’s qualifications. He has no degree in economics?
I f RB is travelling to better Zambian economy, then he should have a few countries which will help develope Zambian economy, that is to say countries which will invest in manufacturing industry but not the way RB travells aimlessily he is every where everyday
EAZ has been hijacked by quacks masqueralding as economists. Im sure this guy has never seen the inside of an economics lectuer room. Then we have Chibamba Kanyama. Perhaps we should have a regulatory body for economists to avoid misleading analyses like this one.
# 42, from my understanding, Noel Nkhoma had a number of certificates in Banking and then went on to obtain an MBA from one of the higher learning institutions that have sprung up in the recent past. In my opinion, being associated with a professional body meant to be run by Economists does not qualify one to be called an Economist.
# 45. I agree with you entirely. But I expected some of the eminent economists with genuine economics qualifications like the outgoing President, Dr. Mwilola Imakando and the Executive Secretary of EAZ to know this. How did they allow this quack to take over a position he is ill-qualified for? This is like Dr. Sansakuwa or Vongo becoming the Dean of the School of Medicine!
It’s true, noel nkoma is no economist. Just ask him what a simple unit root is or Mundell-Fleming model and you will see him scratch his head.
# 47, I love your name!! Lol!!! I used to dance to that song back in the days. Thanks for bringing back some good memories!!