Commerce, Trade and Industry Minister Felix Mutati has said African countries need to invest more in one another in order for the continent was to combat economic challenges it is currently facing.
Mr. Mutati said African countries need to focus more on investment than trade if the continent was to create wealth and combat poverty.
He noted with regret that African countries tend to look for solutions elsewhere when solutions lie in their own hands.
He said this during the Zambia-Egyptian Chemical Business Forum in Lusaka today.
The Minister expressed sadness that Africa’s trade within its boundaries amounts to less than five percent despite the continent being endowed with abundant natural resources.
He said there is need to break barriers on trade and investment among African countries and work together to foster economic growth.
Mr. Mutati further stated that there is need for a change of mindset among African people for them to take the lead in liberating themselves economically.
And speaking earlier, Egyptian Ambassador to Zambia Salah El-Sadek said the business delegation that is in the country to look for investment opportunities decided to visit Zambia because they it was the right place to do business.
Ambassador El-Sadek noted that Zambia’s visionary leadership, stable political atmosphere and peace make the country for investment.
He further stated that Egypt and Zambia will continue partnering in various spheres of development for the benefit of the people of the two countries.
And the Zambia Association of Chambers of Commerce and Industry (ZACCI) President Geoffrey Sakulanda said Zambia is committed to forging partnerships that will enhance its capacity towards adding value to traditional and non traditional exports.
Mr. Sakulanda noted that Zambia is an attractive investment destination that offers lucrative investment opportunities in sectors such as tourism, agriculture, manufacturing, energy among others.
“Zambia’s investment climate is characterized by real GDP growth for the past 11 years averaging about 5.5 percent per annum since 2002, a stable macroeconomic environment, stable political system, investment guarantees and security, access and proximity to regional markets in SADC and COMESA, laws and policies from a government which has demonstrated political will and commitment to encourage both domestic and direct foreign investment”, he said.
He also expressed happiness that government was pursuing a zero-tolerance policy against corruption.
He was further happy that local and foreign investors were treated equally in Zambia.
ZANIS
What Mr. Mutati is saying is what Kwame Nkhruma already declared in the 60s. The man was ahead of his time and when he started to work towards establishing cocoa warehouses in Ghana, the British and Americans conspired against him and toppled him.
Africa is neither poor, nor are our people helpless. If we had to organise ourselves better, manage our resources properly and centralise our government, we would not only be able to eradicate poverty but also feed our entire continent and still have enough to export.
(in picture-Kachepa360 owner Chisala Bulmaga) A leak just received has exposed the woman behind the gossip website Kachepa360. The leak from a lady claiming to have been unfairly attacked by the website, states that a story full of lies was published; she was neither contacted nor given a chance to defend herself. She claims Kachepa360 has gone out of its way to attack anybody without substantiating or making reference to real occurrences. Unlike other international gossip forums that target politicians, the rich and famous, Kachepa360 seems to have adopted a ‘revenge’ platform status where if some man or woman was hurt out of a relationship, they simply email some story (real or imaginary) on the ex to the site for publication.
She claims there are numerous Zambians, both local and…
In order to do what Mutati is recommending Zed has to prove itself by successfully investing in Zed and after success there you move to other African countries for new growth.However one finds it is South African,Nigerian or Egyptians doing that and Zambians missing in action both at home and in Africa.Mutati please arm Zambians to do that before you recommend playing a game they’re hardly prepared for.
DUH!!!!!!!!!! What we have been saying for years.
@ nine Chale above, that is so true. That is what Sir Serestse Khama of Botswana envisioned two. Remarkable that Both Botswana and Ghana are the most Democratic and growth focused states in africa.
Above should have read as to. :)
Chaos, ignorance, poverty, all these are beneficial to the ruling elites of africa so they wont do much to change the status quo.