France commends Zambia’s economic recovery path

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Zambia´s Finance Minister Felix Mutati and France´s Minister of Finance, Michel Sapin, at the Ministry of Finance  - Paris - France.
Zambia´s Finance Minister Felix Mutati and France´s Minister of Finance, Michel Sapin, at the Ministry of Finance – Paris – France.
Zambia’s Minister of Finance Felix Mutati has lured the support of the French government and business community for investments in agro-processing, scaling-up solar, and construction of mini and mega hydro power stations.

And French Minister of Finance Michel Sapin has said Zambia is on the right path in her economic recovery and stabilisation programme.

“You have taken hard and well-thought out action points that are not only home grown, but also founded on sound economic management,” this is an incredible vision, said Mr. Sapin.

In commending Africa’s second largest copper producer, Mr. Sarpin also pledged the greater support of France to Zambia once all the processes leading up to a programme with the IMF are exhausted.

Mr. Mutati affirmed the Zambian government’s resolve to take tough decisions in order to restore prudent economic management, strengthen transparency, consolidate accountability, ensure policy consistency, and facilitate enabling legislation not only for the economic recovery and stabilisation programme, but also for existing and new investments. The Zambian Minister said this to his counterpart when the two leaders met at the French Ministry of Finance, in Paris, France.

Mr. Mutati has also assured the French government that Zambia is seriously committed to eradication of corruption in the public sector, and that, action is on course to review procurement laws and regulations, including the establishment of a price band mechanism which is aimed at eliminating illegal concessions and kick-backs in the process procuring public goods and services because of over pricing of supplies and services to the public sector.

The other issues discussed in detail by Mr. Mutati with the French Ministry of Finance include Zambia’s economic recovery and stabilisation programme, the macro-economic environment, climate change, and the Batoka Gorge Hydro Power Project.

Meanwhile, Mr. Mutati has invited the French Business Community to invest in Zambia’s energy, infrastructure, transport and logistics, agro-processing, and financial services.

“We want to move together with the private sector in facilitating investment, establishing top-class industries, generating employment, and creating wealth,” said Mr. Mutati.

And the French Agro Group, Adepta, has said a delegation of investors will be visiting Zambia in April 2017 to explore the agriculture opportunities marketed by President Edgar Chagwa Lungu during his visit to France in 2016. Some of the organisations represented at the Breakfast Forum jointly organised by the Zambian government and MEDEF in Paris were; French Ministry of Foreign Affairs, Airbus Group, BNP Paribas, Bureau Veritas, EDF [Energy], Societe Generalle, Total, Mattierre SAS, One Five, Lazard Frerres, Adepta Agro, BPI-France, Nutri-fix, and Conception Enterprise etc.

Earlier, Zambia’s Deputy Ambassador to France Joe Kaunda said French tour operators have taken keen interest in exploring Zambian tourist products and services because of the significant peace that the country enjoys and the friendliness of her people. Mr. Kaunda said this when he welcomed Mr. Mutati to the Zambian Embassy in Paris, France.

And Professor Fackson Banda has said Zambia should approach bilateral and multilateral relations with an open heart, adding that, the PF should continue with the economic recovery and stabilisation program as it represents the larger vision of the country.

Professor Banda, who is based at UNICEF in Paris, was speaking when he tendered a vote of thanks on behalf of other Zambia’s, following a meal organised by the community in honour of Zambia’s Minister of Finance.

While in France, Mr. Mutati also had meetings and interactions with Paris Club President Mr. Guillaume Chabert, Agence France De Developemment [AFD] Director, Laurence Breton, Zambia’s living in France.

Mr. Mutati has since left France for Germany where he is expected to have meetings with the Ministry of Finance and Germany Development Agencies, GIZ and KFW.

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11 COMMENTS

    • Tipempa ndalama ba france!!!
      Do you walk in Lusaka City and find those beggars as you walk passed them? your answer will be yes I know.
      Now consider yourself to be France or USA or China etc and the beggars are ZAMBIA. This is basically what has become of us since independence. Even if we wear suits and look smart and speak a borrowed language called english well, know deep down that we are beggars unfortunately. Will we have one day a leader who will say, let us use our own resources to develop, to fund budget from domestic taxes and run the country on domestic money? Kaya.
      See in USA, they have who some of you/us consider a wrong president, but see how he has acted on his campaign process so swiftly.

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    • …campaign promise not process
      ENGLISH IS MY SECOND LANGUAGE SO DON’T FIND MY SPELLING FUNNY. BORN IN ZAMBIA AND PROUD. Same I can not speak Nsenga well but are you going to laugh at me? your answer is no. why because of inferiority complex you think ichisungu is the measure of an individual person

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    • Pledges are not money. How much investment have the French made in Zambia? This M. Sapin was just being polite. The western world is disengaging from failed African states. Apart from “America First” , next is “Europe First”. Nobody is interested in African failures who cannot even manage elections, agriculture, power supply and their own economies. Europeans have to deal with African migrants running away from failed states like Zambia. The Europeans are fed up.

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  1. If its too good to be true, just know that there is something fishy in between. Mutati seems to be well vested and focused every time he speaks, what we need at this juncture, is a proper and serious road map devoid of any political pronunciations but one that is founded on sound and pragmatic economic implementation. No wonder ECL went to bed with the MMD, PF has no economic managers but is full of riffraffs and carders like Mwila who speak before they think. Lets hope something tangible will come out of these trips if only Mutati can put his country first before self, hard luck.

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  2. …..Zambia is seriously committed to eradication of corruption in the public sector….. Zambia’s resolve to take tough decisions in order to RESTORE prudent economic management……
    Mutati was simply informing the French that corruption in Zambia is our biggest problem and do not apply prudent economic prudence in donor funds.

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  3. Here is my economic blue print.
    It is simple
    1. Decentralize govt.
    2. Give more autonomy to provincial governors
    3.promote skillsand localize employment opportunities
    4.increase job training at tertiary level
    5. Align secondary schools with colleges and industry in skills training
    6. A University in each Province
    7. A polytechnic in each province
    8.Apprenticeships
    9.increase retirement age
    10. Zero taxes on new corporate profits at certain profit margins
    11.Agriculture and food security(stop rural to urban migration) + massive irrigation projects
    12.renewable and sustainable energy investment…solar…solar!
    13. Health care training and employment
    14. Transportation and logistics…connect the entire country
    15. Security and safety
    16. Corruption and duplicity. ..a…

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