Come, exploit your expertise in Zambia, Sata tells Korean investors

1. May the Almight God help you Mr President to bring fruits of your hard work from these visits. Long live Sata and the PF

2. viva Mr President

3. reality check. These are the same people that condemned every move by the previous government to bring investors. the truth of the matter is that while we need to encourage Zambians to invest, we do not have enough savings to meet our capital needs. so investors will be with us for a long time to come. we need to encourage politicians to mind what they say about the country as it can damage our imagine and ability to woo credible investors

4. His Excellency the President really has a heart to transform this great nationa and its people. May the Lord God Almighty continue to bless you with wisdom to lead the people of Zambia to prosperity. Viva Sata, Viva PF for the next 100 years.

5. ” In the last year the PF government has worked so hard to stabilise the economy”  Ba Sichinga….???  What have you stabilised??

   • Excellent question. The kwacha? Bread? Mealie meal? Inflation?

6. “Mr. Sichinga said Zambia is the tenth fastest growing economy in the world”…what ? you can say that again.

   • Well technically he is right Mrs Mwafulilwa. Europe is shrinking and will most likely not grow, USA will equally not grow while Asia will only grow marginally. Korea itself has revised its projections to below 2.5% due to the slowing demand in Europe and waning local demand. Zambia on the other hand is projected to grow at over 7% according to government projections and over 6% according to the World Bank figures. Therefore his figures are not far-fetched.

     Hope you are fine.

7. #5 The Engineer (Australia)

   Well spotted my friend. I was going to rant about it , but seeing the mouth that uttered the statement and remembering the K3 trillion Kwacha in circulation coming from the same mouth, I just thought , well not worth it.

   We are talking about somebody who attended a economics seminar sponored by ZCCM and came back with a certificate of attendance and he now wants to claim that he is an top economist and consultant. People need to get tired of telling  lies sometimes. You don’t have to lie all the time. There was no economy to stabilise that this man is talking about. 

   • You really do look like Mr Shawa my former headteacher at Luangwa High School and once MP for the same area. If you are the one, let me just say it was an honour having you as headteacher. Learnt a lot from you sir.

   • Thought the same about our great man,always in lusaka looking for diesel and resources for the school.
     Any idea my mate where is Mr Mbofwana and Ndandula? Coming back to the subject at hand,Zambia was destined to have a turbulent time when PF came into power last year,aprehension is the right term to use felt by the investors but that feeling is slowly being dispelled. MMD Chief Bootlicker,it’s bad day at the office for the MMD enterprise at the moment. The only scenario favourable to the former ruling party could have been more scandals above the formers rate. Unfortunately that doesn’t seem to be materialising but we shall wait and see.It’s early days and any conclusions will render any analysts skills irrelevant.

     Have a good day.

   • Iwe he is just using Mr. Shawa’s picture. He is not.

8. It is now the opposite,
   RB and Sons worked so hard to enrich their families during Rupiah’s reign.

9. tell them Mr president,we are with you

10. may the almighty bless our president with 200 years more so that ka hh will have no chance to rule this country.ba president we are happy with you for the good work you are doing. my man of action

    • God is love, he does not hate anyone, he is for everyone, he does not answer prayers full of hatred. The same God who gave Sata a chance to rule despite his shortfalls will do the same to HH.

11. #6 Nurse Mwafulilwa
    Oops another blander well  spotted..this is embarrassing us now Mr Sichinga. You measure economic growth using GDP and Zambia’s GDP last year was 6.7 making Zambia the 27th fastest growing economy in the world. 

    2011 stats
    
    1 Qatar 18.7
    2 Ghana 13.5
    3 Turkmenistan 9.9
    4 Iraq 9.6
    5 China 9.5
    6 Papua New Guinea 9
    7 Argentina 8.8
    8 Mongolia 8.5
    9 Turkey 8.5
    10 Sri Lanka 8.3
    11 Laos 8.3
    11 Eritrea 8.2
    12 Bhutan 8.1
    13 India 7.8
    14 Ethiopia 7.5
    15 Panama 7.4
    16 Timor-Leste 7.3
    17 Mozambique 7.2
    18 Afghanistan 7.1
    19 Equatorial Guinea 7.1
    20 Uzbekistan 7.1
    21 Kyrgyzstan 7
    22 Moldova 7
    23 Rwanda 7
    24 Liberia 6.9
    25 Nigeria    6.9
    26 Cambodia        6.7
    27 Zambia       6.7

    • Bootlicker, he meant 27. The writer missed the 2…..Nishani Kanshi

    • You guys calling yourselves educated, you forgot to tell us where you got your data and how old it is. How do we verify your data? May be you just made it up.

    • Ba MMD Chief Bootlicker:

      There’s a difference between the rankings in growth and the growth rate from year to year. For instance, using your own indices the top ranking is Qatar with 18.7% for 2011. I have no access to your data but say if Qatar’s GDP growth for 2010 was 19.1%, we would say that despite the fact that they are still ranked No: 1 for 2011, they actually did not have the fastest growth year to year, they had a decrease of 0.4%

      In the case of our fantastic franchise called the Zambian Enterprise, if say our economy grew by 5.9% or something in 2010 and we now stand at 6.7%, we grew at 0.8% a rate bigger than 0.4% for No. 1 ranking.

      Again, I don’t have all the variables but I wanted to make sure you understood that there is a difference between ranking and rate,

    • @wave ili mu toloshi, So what is schinga measuring?  tenth fastest growing economy rate or ranking? kekekekekek

12. Well articulated presentation, but as usual the PF govt is long at talking but short at implementation. We need to see practical steps to create a condusive climate for investment. As they say charity begins at home, so Mr Sata, the world at large will judge you by the way you treat your own children. Economic liberalision must go side by side with political liberalisation. Allow Zambians to freely participate in the affairs of the country and foriegners will flock in like migrating birds.

13. MMD CB You sound smarter than I thought

    It refreshing to read someone as knowledgeable as some of us, 
    well done I will keep reading your contributions

    Thanks

14. Ba MMD Chief bootlicker naimwe, stop copying data from google and pasting it on the blog. Sichinga was talking in reference to SADC as an economic block and this blog has put everything out of context to just reflect poorly on the leadership of this country. This country will continue struggling to develop as we the citizens don’t inspire others to come & invest. Today I had a very good friend of mine from Tanzania who was in Lusaka with an entourage of Chinese engineers who are looking at the revamping of TAZARA. He asked me which places they can visit which are touristic as they only had a day. I told them about the malls, Kabwata cultural village & the Henry tayali museum. The have managed to see most places and keep updating me on skype. We all need to send +ve images of our country!

    • Boza yako

15. @MMD CB, excellent points. No one can counter against statistics, because facts are facts. Unfortunately, the people our minister was presenting to read some of these blogs and will next time not believe anything he says.

    • Agreed, but then let us tell the world the truth and no one will bad mouth anybody.

16. # 14, even the negative comments you are posting are being read by the investor community that was at this meeting in Korea. Those that were thinking about investing in Zambia!

17. If these Koreans turned their poverty in 20 years, we should look at what strategies they put in place to achieve this. Wooing investors is ok up to a certain level provided there is skills transfer to the locals, otherwise it will be the same story of capital flight and us remaining with cramps as usual. Ba Sichinga uncles learn to research before exposing your ignorance. Talking too much is not cleverness, start doing distance studies in Economics.

18. Considering this is by invitation I would imagine the SK posse already know wassup. They’re all doing a gangnam styled donchi dance for the press. The research was done before we even got there and their number crunchers know a thing or to which no blog can teach them :)

    • spot on. unfortunately for my country men, they arrived with memox of what they’ll be selling. zero lateral thought or research at the strategic needs of SK.

19. No.15, I agree with you. But then let those in these elevated positions tell the world the truth. I am very patriotic, but if someone is going to tell a blatant lie like 3 million kwacha in circulation without proof, then I will bad mouth such a one.

20. ”We need more of Korean industries to come to Zambia. We can even waive visa requirements to allow Koreans to come to Zambia because there is more room for development,” he said.

    This is just ironic by the president he is very happy to bend the rules and bend backwards for the foreigners BUT mention dual citizenship and he will come with ill-researched far-fetched statements. Why should he waive visa requirements for a select few when its the law…this is the selfsame reason why you have Chinese traders competing with locals in the market. 

21. We need to create conducive environment for local investors like GBM and HH etc!!

22. Well the Kwacha is fast losing strength, not much to show for one of the fastest growing economies.

    Value of currency is another benchmark for measuring stability of an economy and this is not something you can hide from buyers,sellers, traders and manufacturers, since the Country is a major user of foreign goods and services.

23. Bloggers?? Give credit were it is due.Dont just oppose just bcoz u are in opposition.The president is doing everything possible to ensure that everone at some point will have to enjoy by bringing these hard working people to improve our economy.Its really sad to see some bloggeys condeming!! Mr president,we love you thats why we hard voted for you.Pliz do the best you can do for mother Zambia.

24. thanks ba sata u are called for this country.

25. sichinga+ sata= shameless liars.

26. #10 MMD Chief Bootlicke, those are 2011 stats 2012 stats show Zambia’s GDP Growth at 7.38% and early this year was at number 12. Please check your starts well i provide my source,
    **********************************************

27. #10 MMD Chief Bootlicker why tell lies simply google and get correct stats maybe your internet connection is a year behind even with stats at your disposal people want to lie, ignorance,bloggers just google and get it for yourselves

28. # 6 Nurse Mwafulilwa ,early 2012 stats show Zambia’s GDP Growth was at 7.38% and 12th fastest growing economy stats might have changed now just google no need to argue for nothing.

29. You annoying chap you are telling you woke up this morning to just look out for negatives; shameless chaps indeed you are!

    • can Samsung set up a factory in Zambia? it will be illogical to do that, which market are they pursuing in Zambia when production cost are double as high as those of china where everyone is running to. it it madness mr presdo. or its luck of education or understanding of global business. jst enjoy your holiday and stop sabailaling

    • Bwalya chiselema I must give you credit for showing your feeble minded self again after the hamming that was prescribed to you on that Dr. Luo article yesterday; I hope you make use of your Public Library card and free books my dear friend do some reading.

30. #20 You are right. Laws should not be bent to suit a few individuals. Anybody entering Zambia as a foreigner must have a Visa period. The only thing that I see that can be done is to speed up the process of acquiring a Visa.

31. okay

32. THE MAN HAS FEELINGS FOR ZAMBIA AND IT SHOWS. HE HAS TAKEN IT UPON HIMSELF TO GO AND WOE CREDIBLE INVESTORS INSTEAD OF LEAVING THE JOB TO UN TRUSTWORTHY AMBASSADORS. LONG LIVE SATA. LONG LIVE PF.

33. very bad writting LT President sata arrives for lunch on hosted for president sata! am not too sure about this pathetic sentence.

34. This government needs to set its priorities right if they want to attract these technology global players…just take a look at the old man Chikwanda’s budget  speech last week; there is nothing about communication technology; they are busy removing excise duty of unhealthy fizzy drinks, customs duty on motorcycles and sports equipment. Why not remove duty on 4G telecommunication equipment, High-speed broadband equipment and new smart phones and laptops; put more of these devices in people’s hands which will in turn create thousands more entrepreneurial opportunities and help give people the economic freedom they need to lift their communities out of poverty. 

35. “I’m sad that Samsung is opening a factory here in Seoul.” its their COUNTRY REMEMBER!!!! Empower us to develop our OWN Country too!!!
    H.E. Sata sometimes acts like he’s president of some jungle.

36. Why not remove duty on all commercial printing equipment so our printers can upgrade their printing equipment and ECZ should instead print ballot papers in Zambia instead of abroad where we are spending millions of taxpayer’s dollars.

37. We wish our president success as he looks for investors, but so far he has not yet scored in Korea as no agreement in whatever field has been made , please lets prsy for loans, grants and serious investors from korea to come on board. I have a korean wife so…

38.  There is something about expecting citizens of a far away Country to come to your Country and turn it into a springboard of economic development that Leaves you scratching your head a bit.  Keynote speech? 

39. When shall zambians become investors? Instead of hunting investors we should be hunting opportunities.Instead of foreigners coming to our turf we should be flooding their markets.Nigerians,Kenyans and South Africans are doing it on other people’s lands why not zambians?

40. Ba MMD CB: There’s a difference between the rankings in growth and the growth rate from year to year. For instance, using your own indices the top ranking is Qatar with 18.7% for 2011. I have no access to your data but say if Qatar’s GDP growth for 2010 was 19.1%, we would say that despite the fact that they are still ranked No: 1 for 2011, they actually did not have the fastest growth year to year, they had a decrease of 0.4%

    In the case of our fantastic franchise called the Zambian Enterprise, if say our economy grew by 5.9% or something in 2010 and we now stand at 6.7%, we grew at 0.8% a rate bigger than a 0.4% decrease for No. 1 ranking.

    Again, I don’t have all the variables but I wanted to make sure you understood that there is a difference between ranking and growth rate,

    • The fact is a Qatari citizen with a per capita of $98k still gets far more real increase with their decreased growth of 0.4% than a zambian’s quickened pace of 0.8% with only $1600k.A slowed pace at much higher growth rate is still better.

    • Ba Enka Rasha:

      In monetary value, yes but you would have to also understand that in my analogy I actually referred to a decrease for Qatari of 0.4% meaning he would actually still have a decrease in real wealth per capita compared to the previous year but still wealthier than a Zedian.

      No questions about that but in your case the Zedian would have an increase in real wealth from his initial $1.600 to use your figures. Now having said that, did you know that one hundred years ago economies of both the USA and Mexico were the exact same size?

      After 1912, the US economy was growing by only 1% higher than the Mexican on a year to year basis and a hundred years later, the US is a phenomenon and Mexico just recently got included in the G20. Those small numbers matter, you are the best.

    • B.R Mumba your 1st paragraph in 40.2 is all wrong.There’s not a decrease in real wealth per capita(which actually increases) but just a slowing in pace of growth.

    • Enka Rasha: I totally disagree with you on the 1st paragraph … just for the sake of it, a GDP figure at the end of a fiscal years is a snap shot just like the Balance Sheet (BS) for a corporation. So, to help you understand better, if you have a BS showing $20.0 B in the Capital Account at the end of a fiscal year with 10 investors, each one of them will be in Forbes Magazine as billionaires worth $2.0 B each.

      If the next year all they had in the Capital Account was $10.0 B, their wealth would be cut to $1.0 B each. So in a regressing economy the income per capita for each individual goes down while in an increasing economy, it goes up … that’s what I was trying to let you understand.

      Also, if you stay on an upward trajectory, PPP for $1,600 today might be worth in the future.

41. Continued … Using the above analogy, Zambia’s economy would be growing at a faster rate than the Qatarian economy using year to year economic growth rankings. Would Zambia be even placed in the 50th place and be the fastest growing economy in the world if it beats the top 49 from year to year for the period under review?

    You betcha, would it still be a smaller economy compared to a giant one growing at a 1.2% annualized growth? You betcha!!! So, just so we are on the same page, depending on what data Bob is using, it could be factual or a whole lot of crap.

    But we can’t just pull out a ranking for one year under review devoid of an analysis of year to year to dispel the notion that our economy is one of the ten fastest growing economies in the world … you are the best.

    • tell us what data your uncle is using kabili since you claim to be in the know

42. Reliable sources have really confirmed that
    madam Luo is frustrated due to her
    demotion that has led to her being in
    charge of witch doctors, makishi/nyau &
    denying her international trips because it is
    almost impossible for her to go out for
    tours or accompany the president.

43. Zambians should stop looking to foreigners to build our economy and country.Government should encourage the growth of small and medium businesses being run by Zambians. Further the government should partner with foreign investors or at least enable foreign investors to partner with local companies. It has been 20 years or so since we liberalized our economy and what have we got to show for it? Our GDP is 2/3 of that at independence. Social-Economic indicators have continued to decline.Clearly government should take a new approach in wealth creation. I suggest government should once again become an active player in running business. All the so called emerging economies, Brazil, India,Russia, China,Mexico,Indonesia etc have their main economic sectors being run by government.

44. With such attitudes you wonder why foreigners abuse and exploit us in the end. Investors already know where the potential businesses exist. It is their job to know . If I were Mr. Sata I would concentrate on empowering the local people back home.

45. @mulondwe muzungu it is an illusion to think that the Zambian economy can grow by simply encouraging SMEs. For us to expand we need capital and we cannot get that from our own servings. Countries as big as China, Australia, etc have developed by encouraging foreign investment. the path you are suggesting was the one Kaunda used only that he used state owned companies.

46. Zambians are extremely happy with the way President Sata is selling Zambia to the international community interms of business bilaterals.This is the man we needed many years ago. Now you will see how this country will collaborate with high profile bussisness partners, am very sure with youger and vibrant Ministers like Miles Sampa who understands economic and financial matters, Zambia is shapping up for greater destinations.

    We know small chicks of the likes of Hakainde will be screaming out of ignorance, but we will not be delayed by selfish minds.We have a country to govern while he has no constituency.

47. zambians are primitive says SATA

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