-2.6 C
Alba Iulia
Monday, February 17, 2020

African Development Bank calls for economic diversification

Economy African Development Bank calls for economic diversification

AfDB president, Akinwumi Adesina
AfDB president, Akinwumi Adesina

Visiting African Development Bank (ADB) president Akinwumi Adesina said diversifying from copper dependence to agriculture is the only measure for Zambia to resuscitate its economy.

Dr. Adesina said diversifying from mining to agriculture not only for subsistence but also for business purposes is the only way to compliment to the volatile copper prices currently being experienced at the world market.

He said Zambia has arable and plenty of land to become an agriculture giant in the region especially by growing crops such as cassava and millet which he said are drought resistant.

ZANIS Reports that the ADB chief said this in Lusaka today during a luncheon hosted for him by the Ministry of Finance.

And Dr. Adesina disclosed that support to the country’s energy sector will be one of the key priority areas for his Bank.

He said there is need to reform the country’s energy sector as it is the major contributor to the country’s Gross Domestic Product (GDP).

And Bank of Zambia (B0Z) Governor Denny Kalyalya praised the ADB president for visiting the country and reaffirmed that Zambia will always remain a good business destination.

Dr. Adesina and his entourage arrived in the country yesterday to check on progress made regarding Zambia’s hosting of the ADB Annual General Meeting slated for March in Lusaka.

Dr. Adesina this morning held a meeting with President Edgar Lungu and later visited the Mulungushi International Conference Center which is the venue for the upcoming ADB AGM.

[Read 31 times, 1 reads today]

1 COMMENT

  1. We have known that since independence….. you talking to the blind who can not see. They prefer to go an ask for France to give them planes to start an airline as if France is Father Xmas. Unfortunate their dull followers jump of rood tops clapping

Comments are closed.

- Advertisement -
Loading...

Latest News

Zesco United Go Third, Mighty Draw

Zesco United for the first time stayed unbeaten for a third successive league game in 2020 after a 2-2...

Movie Review: Parasite

A poor family, the Kims, con their way into becoming the servants of a rich family, the Parks. But their easy life gets complicated...

Chilubi Parliamentary By-Election’s Biggest Losses and Lessons

By Isaac Mwanza The final results of the Chilubi 2020 By-Elections are in and it is time to analyse these numbers to get a feel...

PF Toasts Chilubi Victory as UPND Beats Kambwili’s NDC to Second place

The Patriotic Front PF has toasted the Chilubi and other ward by elections PF candidate Mulenga Fube beat four other contenders after polling...

Forest Rangers Dent Nkana’s League Title Dreams

Nkana's title hopes were questioned on Saturday at home when Forest Rangers beat them 1-0 in Kitwe and get rewarded with top spot on...

More Articles In This Category

- Advertisement -
[Read 24 times, 1 reads today]