ZAMBIA’s Ambassador to South Korea Mumba Kapumpa has urged Korean investors to take advantage of Zambia’s political stability and a favourable investment climate to invest in the country.
Mr Kapumpa cited political stability, a peace loving people and conducive policies as reasons why Koreans amongst others should choose Zambia as an investment destination.
He explained that Zambia was ideal for investment into the region due to its strategic geographic situation, being land-linked to 8 other countries.
Mr Kapumpa said this on Saturday March 5, 2016 when he a guest lecture titled “Africa: Warm, Exciting, Diverse” at the Soongsil University in Korea.
This is according to a press statement released yesterday by the Zambian Embassy in South Korea.
The Ambassador was accompanied by the Counsellor, Faith Mbula-Kangwa, First Secretary Administration, Elias Champemba, First Secretary Tourism, Nthemba Kamanga-Minja and Second Secretary Accounts, Lasford Ngoma.
The team was welcomed by Professor Yongstae Shin, Dean of the Graduate School of Software and approximately 100 postgraduate students from the Policy and Management programme.
Mr Kapumpa described Zambia as a historically mining economy, where the traditional focus has been the mining, quarrying and refining of Copper and Cobalt.
He went on to explain that 10 per cent of the world copper reserves were found in Zambia and that Zambia is among the world’s top ten largest cobalt producers.
“Emeralds, amethyst and malachite are among other minerals available in Zambia. As of 2013 the manufacturing sector made up 11% of the GDP. This sector is constituted mainly of the processing of agricultural produce to make food and beverage,” Mr Kapumpa said.
He said Zambia was endowed with about 60 million hectares of arable land and a wide variety of crops, maize, wheat, soya bean, coffee, tobacco and others were cultivated.
Mr Kapumpa explained that Zambia is ideal for investment into the region due to its strategic geographic situation, being land-linked to eight other countries.
He also highlighted the rich traditions wealth of tourist attractions throughout the country.
The Ambassador said that Zambia could be accessed through its three International Airports and has an extensive and growing road network linking all regions.
“With about 33 per cent of land mass dedicated to wildlife estate (20 national parks and 36 Game Management Areas) and over 5 major rivers and lakes the country is home to over 700 bird species.
In addition to the Victoria Falls, one of the World’s seven Natural Wonders, he also spoke about Kafue National Park, South Luangwa National Park, Lake Kariba, Lake Banwgweulu, Kundalila Fall and Kalambo Falls in the Northern Tourism Circuit as the highlights of this great tourist destination,” he said,
The lecture began with an overview of Africa as a continent, detailing the economic, geographic and cultural facets. He described how Africa is home to 16% of the Earth’s population, over 1.1 billion people speaking over 1500 dialects.
He said that the climate varies from equatorial to temperate to sub-arctic and the continent is home to more than 2600 species of bird and over 1100 species of mammals across a whole range of environments:desert to rainforest.
To highlight the vastness of the continent, Mr Kapumpa provided visual contrast of Africa and Korea, 30 220 000 square kilometers and 100 210 square kilometers respectively.
The Ambassador then took time to discuss the various misconceptions associated with Africa and point-by-point provided explanations and background thus correcting these misconceptions.
He explained that whilst many think of Africa as “one big country”, it in fact consists of 54 countries.
He explained that there was a lot of modern infrastructure, skyscrapers, highways, railway networks, communication and broadcast systems to debunk the belief that “all Africans live in huts”.
He further explained that Africa, despite having over 3000 ethnic groups and several religions is not in “constant state of war and turmoil” as some believe.
Mr Kapumpa presented Africa as a diverse continent rich with potential saying the continent had 30 per cent of the Earth’s remaining mineral resources.