Finance Minister Felix Mutati
Finance Minister Felix Mutati
FINANCE MINISTER FELIX MUTATI has said the Zambian government is in the process of creating financing instruments which will facilitate enhanced participation of the private sector in infrastructure development.

This is contained in a press statement released to the media by Ministry of Finance Spokesperson Chileshe Kandeta.

Addressing delegates and investors at the on-going Africa Infrastructure Financing Forum in Johannesburg, South Africa, today, MR. MUTATI said one of Zambia’s top priorities was to mobilise public-private-sector investment for mega projects such as the planned Batoka Power Station between Zambia and Zimbabwe which is expected to produce 2,400 MW of hydro power and enhance developmental integration in the region.

“Unless we have power to drive industrialisation, regional integration and competitiveness will be eroded,” he said, adding that, “in Zambia we are refining public-private-partnership models to facilitate infrastructure development from design to operation and transfer, through financing instruments such as credit enhancement and contingent guarantees.”

“We cannot address the infrastructure deficit in Africa if we continue with business as usual,” warned MR. MUTATI, adding that “we also need to begin to create a sence of urgency to curb excessive bureaucracy and establish functional platforms for efficient and effective actualization of private investment.”

To address the infrastructure deficit in key sectors of our economies, “we need ruthless prioritization of development projects, efficient resource preparation, and effective sequencing of our programme implementation processes,” said MINISTER MUTATI.

“I remain hopeful that despite the infrastructure challenges, working together with neighbouring governments will enhance Zambia’s competitiveness,” said the Minister, adding that, “this year alone [2017], investments from South Africa have reached close to ONE-BILLION-DOLLARS [US$ 1 billion].

Speaking earlier at the same event, SOUTH AFRICA’S MINISTER OF TRADE AND INVESTMENT ROB DAVIES said that the African Continent has an annual infrastructure financing deficit of US$93 Billion per annum for the next twenty years.”

Mr. Davies said that, “Africa’s competitiveness remains weak because of this huge infrastructure deficit.”

He also said that “South Africa is making progress in unlocking the infrastructure deficit by harnessing partnerships and using locally manufactured components and inputs, in line with Africa’s 2063 Agenda and Vision for social-economic development.”

“We have developed guidelines and a code of conduct for South African companies which have invested and are operating businesses in other African countries to ensure that the highest standards of corporate governance are observed,” disclosed MINISTER DAVIES.

“South Africa aims to enhance investment led trade partnership with Zambia especially in the energy sector,” he said, also adding that, “we are looking at ways in which we could partner with Zambia to address developmental challenges of our two countries through infrastructure development.”

MEANWHILE, South Africa and Zambia have expressed mutual interest to collaborate in tax administration, treasury management, revenue collection, trade and revenue leakage prevention, staff exchange programmes, and investment in the north-south corridor from Kasumbalesa-Chililabombwe to South Africa.

This development came to light when MINISTER MUTATI paid a courtesy call on his South African counterpart MALUSI GIGABA in Pretoria today.

Speaking during the event, Mr. Gigaba proposed an intensive collaboration programme in the near future, which will involve study tours by Zambian authorities to the South African Revenue Service, Industrial Development Corporation, Public Investments Corporation, the Development Bank of Southern Africa, the Land Bank and other development oriented organisations.

“Tax administration and revenue collection are our key areas of focus, therefore staff exchanges will be a great initiative for both our countries,” said Mr. Gigaba.

“We need to move quickly on this initiative so that a memorandum of understanding is signed by October 2017,” urged Mr. Gigaba.

AND Mr. Mutati has said South Africa is Africa’s biggest investor,” further stating that, “its investments in Zambia are progressively creating opportunities for tax revenue collection for the treasury through the Zambia Revenue Authority.”

Mr. Mutati also said Zambia and South Africa are giants in the regional economy therefore “we have to collaborate in translating the visions of our leaders into programmes that will benefit our people and enhance private sector investment returns.”

AND Zambia’s Ministry of Finance Permanent Secretary for Budget and Economic Affairs Pamela Kabamba has said the country’s budget deficit is compounded by a low revenue to GDP ratio, which currently stands at 17% compared to South Africa’s 27%.

“As Zambia, we are taking measures to boost our revenue collection,” said Mrs. Kabamba, adding that, “the option of borrowing has attendant costs hence the need to up our game in domestic resource mobilisation.”

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24 COMMENTS

  1. Even before they understand what this means, they will be all over the Finance Minister and the President to present a Namwala agenda that appeals to the cartel! This government has done very well developing all corners of Zambia! By the time they end the the President’s in 2026, they would have turned Zambia around for good and the President will be one of the best we ever had. At that hour, Mutati will be ready to take over and HH will become Chief in Namwala District.

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    • It wouldn’t surprise me if kwaxha and pound are 1:1 which has never Happened before.

      This man is working ridiculously hard.

      Thanks

      BB2014,2016

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    • Just because South Africa is biggest investor don’t mean Lungu is overseeing opposition in that country..
      Seriously, Mutati please give chance to those useless PF to recover embarrassment they brought from SADC.
      Whoever was involved in that saga must be fired.

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    • @Mushota you must be under 35 years old! It amazes me to hear young people like yourself (BB2014) don’t know about the good old days of a US Dollar being almost two US$ to ZK1. However, linking rate to economic nirvana is a poor way of guaging the economy! Japanese Yen 100 is only equal to K9 and thus believing then that Zambia’s economy is stronger that Japan can only come from Mushota’s head!

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    • Another loud mouth that talks laud and says nothing. The Bank of Zambia Governor said just last week that reduced inflation was due to a subdued economy.Dr Kalyalya is an economist and Mutati barely passed his ACCA

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    • If you aske me both kalyalya and mutati are miseducated negroes who dont know what they are talking about. Nothing will ever get better for the african until he rediscovers himself and builds from whence their ancestors left off. Believe me,i know what am talking about. This is a lesson we seem not to want to learn.

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    • Ba MB … you’re right, they have no clue of the good ole days; like they say in Texas!!!

      Point of correction though, it was £2 GBP to ZMK1 all the way up to 1973. In other words you needed twice the British Pound Sterlings to buy one Zambian Kwacha.

      That’s the reason our old ZMK1 note (the purplish green) used to be called Pound!!! Our industrial base was actually stronger than U.K. even though London was the financial capital of the world at the time.

      France, Italy, England and German including then Yugoslavia were our largest European trading partners. The French were build Peugeots at Rover Zambia and LMA, the Italians were supplying us with Fiat trucks for Zamtan and building all Fiat cars at Livingtone Motor Assemblers (LMA), the British were building Land Rovers at Rover…

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    • Continued…

      France, Italy, England and German including then Yugoslavia were our largest European trading partners. The French were build Peugeots at Rover Zambia and LMA, the Italians were supplying us with Fiat trucks for Zamtan and building all Fiat cars at Livingtone Motor Assemblers (LMA), the British were building Land Rovers at Rover Zambia, the Germans were building electronics like Phillips TVs in conjunction with the Americans at ITT Supersonic, the Yugoslavs were building infrastructure and buses like Duravas and EVP, and telecommunication networks, the list is endless.

      Back to the Germans, they had their own biggest suit manufacturing plant outside Germany in Zambia called Seriuos International which exported suits around the world.

      In fact, one time Dad came back…

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    • Continued…

      In fact, one time Dad came back from his business trip in London boasting about this suit he had just bought in Piccadilly and when my mother asked him to check the tag inside it said “Seriuos International” Made in Zambia!!!

      We all laughed at him, Mum even added salt to the inquiry by saying “… nga mwailefye ku Luanshya to buy it intead of London”. Serious International was based in Luanshya!!!

      The list is endless but those who grew up during FTJ’s error all drank the cool aid while our era drank mazoe and therein lies the difference, they have no clue about the lost Zambian glory for all the good ole days … I want my Zambia back!!!

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    • Meant to say Mum added salt to the “injury” not inquiry … autocorrect is a menace sometimes

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  2. as USUAL very good at rhetoric but poor in ACTION and too good in U TURNING, THIS SHALL come to an end in 2021 with HH on top of things, just imagine the international support he had when in prison, now what if he is president mamamamama…all donors will be floating money like throwing sand to Zambia,competing in projects to finance

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    • @Anyoko, Chiluba MHSRIP had the rare opportunity to build a very strong economy and future for Zambia. He was more popular than HH and Lungu and had almost 100% international and investor support. His lobby for Zambia’s debt relief was overwhelmingly accepted by the Donor community and honoured. He had the best technocrats supporting his SAP or Structural Adjustment Program.

      Now the question is what did he end up achieving for the country other than enriching himself and those in close circles with him?

      So HH may as well become big headed and fail to deliver despite his qualifications. I have nothing against HH but would only hope that he is selfless enough to rule Zambia to to much needed prosperity.

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  3. Felix! Just resign instead of misleading us because you are good telling lies. You should learn to consult before you make a statement as yours are always fault! Remember how you gave those two contradicting figures in Parliament. Sure if l were you, l could have resigned but because of lack of shame you have continued and still cheating the Zambians who are are docile. Ask Mr. Magande for advice.

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  4. Kikikikiki ANYOKO:which international support did HH receive while in jail?kikikiki;support from Maimane who is just like Munyokela in SA?wonders will never end in life.ONE WOULD CELEBRATE IF HH GOT MASSIVE SUPPORT FROM ZAMBIAN VOTERS WHILE IN JAIL AND NOT THE SO CALLED INTERNATIONAL SUPPORT FROM FOREIGNERS WHO SHALL NEVER EVER VOTE IN ZAMBIA!!
    if any sane person still dreams that HH can win in 6.5 provinces in 2021-that person needs to see a doctar at chainama hospital.since 1998,upnd has failed to win in 6.5 provinces,yes under Mr Mazoka in 2001,upnd did very well in those areas.but since 2006 when Mr Sejani declared that only a tonga can lead upnd and HH became its leader,upnd kissed goodbye to majority voters in 6.5 provinces!!!
    BACK TO THE ISSUE AT HAND,WELL DONE PF GOVNT AND HON…

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    • Your president Ba Jonathan Pombe after subjecting Zambia to unnecessary ridicule bowed to international pressure to have HH released.

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  5. “FINANCE MINISTER FELIX MUTATI has said the Zambian government is in the process of creating financing instruments which will facilitate enhanced participation of the private sector in infrastructure development.”

    Really laughable…Mr Accountant where are you going to get the money from? Are you going to borrow from the Chines…or is it an another EXIM Bank loan to give to AVIC!!

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  6. Another annoucemnet stating ” governmsny is in the process, we envisage, we expect ….. its talk where is the realization of all these announcements.
    Remember all the investors fallling over to invest in the batoka gorge project, thec $240 million investment from origene seed suppliers from israel.. You now say that to have industrialization ypu need proper power supply, if as govt says it wants be an industrialized nation why did we invest in roads to nowhere when that money could have been used in the power sector.
    Njimbu do you keep that post on file so you roll it out when you dont have a defence to comments put out by your ministers.

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  7. Zambia under Lungu has failed; Look at Zimbabwe; in 2013 they proposed for a desiney land type park their their Victoria Falls town that will bring business and many tourists to their Victoria falls side for longer; now their plan is about to take off while Zambia is still sleeping; even the Luapula expo might not succeed as planned; business is about competition; now that Zimbabwe has reawakened with many airlines going on the Victoria Falls side, Zambia is in trouble; what Zambia should have been doing is to plan and put up similar projects on our side; but brainless people in PF are bent on violence and building a new state house which Lungu may only use for a year or two;

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