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Alba Iulia
Wednesday, August 12, 2020

Joblessness and poverty has still remained high in Zambia despite economic performance-Mwanakatwe

Economy Joblessness and poverty has still remained high in Zambia despite economic performance-Mwanakatwe

Zambia International Investment Forum 2016 Launch: Zambian Minister of Commerce, Trade and Industry Margaret Mhango Mwanakatwe delivering her speech
Zambia International Investment Forum 2016 Launch: Zambian Minister of Commerce, Trade and Industry Margaret Mhango Mwanakatwe delivering her speech
Commerce Minister Margaret Mwanakatwe says despite the improvement of the Country’s economic performance since 2001, as evidenced by the increased inflow of foreign direct investment, Joblessness and poverty has still remained high in the country.

Speaking during the COMESA second committee meeting on industry, Ms. Mwanakatwe says this indicates that the growth which has been taking place has been capital intensive.
She says this has prompted government to craft a ‘strategy on industrialization and Job creation to be funded through foreign and local investments.

Ms. Mwanakatwe has since stated that the investment which has taken place so far has been in the technology intensive sectors, and the other sectors which are more labor intensive have not been fully exploited.

She says to create 1 million jobs in the formal sector over five years, four growth sectors have been identified as having the greatest potential to achieve the objectives of promoting growth.

And speaking earlier, COMESA Assistant Secretary General Ambassador Dr. Kipyego Chelugel says Trade amongst COMESA member states have continued deteriorating.

He says the percentage of intra COMESA trade as measured by the ratio between exports to other member states compared to exports outside the region was at 10 percent in 2015 compared to 8.8 percent in 2013.

6 COMMENTS

  1. WE KNOW MAMA U ARE BUSY SPONSORING PF CADRES TO REMOVE MUTATI SO U TAKE OVER, MUTAI IS NO MATCH FOR YOU HE IS A CROUD PULLER INVESTORS SIGN AGREEMENTS WITHOUT EVEN THINKING TWICE, MANJE U AS LONG AS U DONT ******** TI WIN AN INVESTOR WE SHALL GET NOTHING…PLEASE STOP THE ROT

    • First time a a PF minister admits to failure …this govt is not creating enough jobs but doing a great job in getting pangas for cadres

  2. Her Lusaka central seat was nullified by courts, nothing happened.
    Now Kenya have taken advantage of Zambia to follow court rulings.

  3. Informal sector is just as important. We need more self generated income for those looking at starting their own businesses. Create a user friendly environment with less regulation and easier and more straight forward systems in place. Let payment to Zra be more straight forward so that small businesses don’t incur unfair penalties as a result of a difficult payment system that this Mutati has put in place. Interest rates too high, banks don’t give loans to small businesses – show us madam Magaret that you are more helpful than Mutati by addressing these issues for the sake of boosting commerce in the informal sector.

  4. Joblessness in Zambia is not an accident.

    These politicians want a stock of desperate people of meagre means to serve as foot soldiers.

    Creating employment would run counter to their desires.

    As long as Zambia produces spineless mumbskulls for leaders, unemployment and all its socioeconomic ills will characterize our nation.

  5. Unfortunately in this day and age there js an emphasis on more mechanization so that means there is going to be less labour intensive jobs available. With the majority of our pipo having limited formal education tgere is going to be less and less opportunities for formal employment and also the ability to venture into entrepreneurial activities.
    The majority of foreign investment in agriculture will be driven by mechanization. We need to have a national plan for our small scale and subsistence farmers to positively contribute to the economy. Africa is unique and it is diificult to “fit”western ideology to African culture

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