Barclays Bank Africa Chief Executive and Head of Absa Group, Kennedy Bungane has described Zambia’s economic programme as one the best in Africa and a powerful story that inspires investor confidence.
Mr Bungane says the Zambian story is a powerful message that Zambia and Africa’s rise as a whole is no longer an illusion but a measurable factor that business can see.
Mr Bungane said this at the Zambia Round-Table Forum on investment on the theme “Seeking to be the Bread Basket of Africa” held at Marriot Hotel in central London today.
He said the political and business leadership in Zambia has demonstrated the confidence investors wanted to see in emerging economies.
He pointed out that the US$750 million Zambia-Eurobond has been the best story of the continent in the past year.
Mr Bungane also noted that the latest Economist Intelligence Unit (EIU) Report has endorsed Zambia’s resilient showing which is projecting an impressive 8.1 percent GDP growth in 2013.
He points out that this is yet another indication of the stability and growth trajectory of the Zambia economy in the short-to- medium term.
And Baroness Lynda Chalker, the chairperson of Africa Matters Limited that is co-sponsoring the event with Barclays Bank, said Zambia’s unique position at the centre of two viable regional economic blocs namely SADC and COMESA provides huge investment opportunities in communications and transport.
Baroness Chalker said Zambia urgently needs efficient transport and communication infrastructure in North-Western Province, which needs linkages with Angola, DRC and Namibia.
Acting Zambia High Commissioner to the United Kingdom, Chola Chama urged investors to engage with the mission across various aspects of investment especially mining, agriculture, infrastructure, tourism, ICTS and communications and transport.
Mr Chama said the government of President Michael Chilufya Sata is determined to woo investment from all parts of the world and that the United Kingdom was one of the top priorities.
Agriculture and Cooperatives Minister Robert Sichinga is leading a government delegation that includes deputy minister for transport and communications Panji Kaunda, deputy minister of Mines Richard Musukwa, Zambia Development Agency Director-General Andrew Chipwende and other senior officials.
And Mr Chipwende told the forum that Zambia’s growth path in the next four years was bright given the remarkable investments in key sectors such as road construction and rehabilitation.
He said Zambia has launched road works worth over $5 billion over a period of four years.
He pointed out that this will result in job creation and real economic growth.
This is contained in a statement released to QFM NEWS by First Secretary for Press at the Zambian high commission in London Amos Chanda.