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Alba Iulia
Thursday, June 4, 2020

Zambia happy with Africa’s 9 trillion dollars expenditure towards infrastructure development

Economy Zambia happy with Africa’s 9 trillion dollars expenditure towards infrastructure...

Zambian High Commissioner to South Africa Emmanuel Mwamba speaking whilst flanked by his counterpart a South African High Commissioner to Zambia Ms. Sikose Mji during the South Africa Trade and Investment Mission to Zambia Meeting at Cresta Golf View Hote
Zambia has expressed happiness with Africa’s annual expenditure of nine trillion dollars towards infrastructure development

Zambia’s High Commissioner to South Africa Mr. Emmanuel Mwamba says Africa’s investment in infrastructure will significantly impact positively on realizing its potential.

Mr. Mwamba was speaking at the Roundtable discussion on Economic Diplomacy held at the Standard Bank in Rosebank, Johannesburg, South Africa attended by several dignitaries and Chief Executive Officers from different private and public-sector.

He said Zambia was happy with Africa’s positive economic outlook despite negative international media reports concerning the continent.

He urged African countries to improve on the negative dominating narrative about Africa as a place of famine, diseases and war.

He said African countries were posting the fastest economic growth in the world and the positive activities in the continent needed to be highlighted aggressively.

Mr. Mwamba encouraged the countries to continue investing in infrastructure development to unlock Africa’s potential in agriculture, Tourism, Commerce and Entrepreneurship

He further encouraged African countries to increase intra trade as the continent had the best business prospects.

He said another key growth point was the huge presence of young people and the demographic dividends can be obtained by investing in education, entrepreneurship, skills development and SMEs.

He cited an example where South Africa imports Soya Cake worth R1 billion from Latin America while Zambia had excess capacity and quantities.

And Standard Bank of South Africa has described Zambia as a key economy in Africa.

The Bank says Zambia was a powerful lever for the growth, peace and prosperity of the continent.

Stanbic Chief Executive Officer for Africa said at the Roundtable discussion on Economic Diplomacy under the theme: Making it easier to do business in Africa.

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  1. 9 Trillion Dollars?! It much be rands.

    What is the size of the economy of Africa? The two largest make for US$1 trillion. How does a continent spending more than it overal income on one expenditure?

    Ba LT please check your facts before posting please.

  2. Mr Mwamba; what infrastructure growth are you talking about? Zambia seems to be happy only when dollars are mentioned. How about Zambia getting wise and making money from our rich natural resources instead of a few individiuls filling their bank accounts by selling away our resources to foreigners?

  3. How did they come up with the figures?

    Hope they meant 9trillion kwacha cause dollars, wud have dealt away with chibolya

  4. Emmanuel Mwamba is happy because he and his friends in leadership will be celebrating. This is money for themselves, family, friends, girlfriends, babulu etc. No of it will go towards infrastructure development and will end up in their pockets. Its time Zambians started protests and speaking up. Just look at how leaders are getting rich and have buildings and mansions while the average Zambian is living in poverty. There is abuse of power in that anyone who says something is threatened with imprisonment. Yet those who were elected forget the very reasons they are leaders. Had it not been for the people electing them, they would be nothing. Please Zambians vote wisely in 2021. They did a major “Dunana Reverse” on you guys!

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