9.5 C
Alba Iulia
Thursday, May 28, 2020

Zambia, SA companies urged to forge business links

Economy Zambia, SA companies urged to forge business links

 

President Jacob Zuma of South Africa haschallenged the business community in his country and in Zambia to work towards fostering economic emancipation.

Mr. Zuma said political freedom would not make sense in the absence of
economic independence.

He said the meaning of freedom will only be complete if countries are
also economically free.

“Political freedom without economic freedom is nothing. We need to
complete freedom, then we will have a stable democracy,” he said when
he and President Edgar Lungu addressed a South Africa-Zambia business
forum at Freedom Park in Pretoria Thursday.

Mr. Lungu is in South Africa for a state visit at the invitation of Mr. Zuma.

President Zuma further said economic power has more capacity to
influence political power hence the need to have both in the country.

He said the years of fighting for political freedom and apartheid
would not be complete unless they translate into a successful
attainment of economic freedom.

And President Zuma said his country was keen to cooperate with Zambia
in mining, mineral exploration, and processing.

He explained that trade between South Africa and Zambia stood at R29
billion in 2015 adding that there was need to boost economic
development.

He has since thanked Zambia for opening her market to South African
companies to conduct businesses there.

“South Africa’s current investment amounts to US$2 billion,” he added.

And President Lungu has said the volume of trade between the two
countries was in excess of US$3.8 billion.

He said there were over 200 South African companies operating in
Zambia with a combined product range of about 3,000 products.

He has since urged other South African companies to invest in Zambia
because it is one of the best investment destinations.

President Lungu, however, observed that trade between Zambia and South
Africa was skewed toward the latter.

He said economically advanced countries should assist those lagging
behind to catch up.

Meanwhile, South African business representative Danisa Baloyi said
the two countries should balance their trade through market access.

And Zambia’s business representative at the forum Charles Kalima said
Zambia and South Africa should not compete in business but should
instead cooperate so that they both develop economically.

Before addressing the business forum, Mr. Lungu laid a wreath at
Isivivane, which is a memorial place for the fallen heroes who died
during South African wars and world wars.

[Read 103 times, 1 reads today]

2 COMMENTS

Comments are closed.

- Advertisement -
Loading...

Latest News

Zimbabwe deports arrested Zambian Fishermen after one of them Tests Positive for COVID-19

Nine Zambian fishermen who were arrested for illegal fishing on the Zimbabwean side of Lake Kariba have been deported...

President Lungu expected in North Western Province for a 3 days working visit

PRESIDENT Edgar Lungu is today expected in North Western Province for a three-day working visit under the new normal. The President is expected to...

During Covid19 President Lungu needs to dispatch those who act against national interest

By Jack Nyoni By now, few Zambians will not have heard of Lusaka-based businessman Valden Findlay. He has been in and out of...

Zambia confirms it will pay French firm US$ 5 million for debt advisory services

Secretary to the Treasury Fredson Yamba has picked French company, Lazard Freres, to provide advisory services regarding liability management for its debt portfolio. Mr Yamba...

Kenya Defender Mohammed Praises Nkana’s Management

Kenya international defender Musa Mohammed says Nkana is run at a very professional level. Mohammed joined the record 12-time champions from Nairobi giants Gor Mahia...

More Articles In This Category

- Advertisement -
[Read 25 times, 1 reads today]