Former President Rupiah Banda
Former President Rupiah Banda

Zambia’s Fourth President , His Excellency, Mr. Rupiah Bwezani Banda says the on-going trade wars between the Western countries and China meant to impose barriers on trade have major implications on Africa’s economic growth.

Speaking during a special High Level Stakeholders Appreciation and Engagement dinner on the occasion of the 135th Trade and Development Bank Board of Directors meeting in Addis Ababa, Ethiopia, the former President said the global economy too is likely to experience a period of sluggish trade, with risks of further slowing down as a result of the trade wars.

Prominent among the people who attended the dinner where Former Ethiopian Prime Minister Desalegn Haile Mariam, Ethiopian Minister of Finance and Economy, Ahmed Shide, Ethiopia’s First Female Chief Justice Meaza Ashenafi , National Bank of Ethiopia Governor Abdallah Hamdok and Abdallah Hamdok, a member of the TDB eminent panel of experts.

Mr. Banda co-chairs the Eminent Panel of Experts on the TDB board with the President of Seychelles, Mr. Danny Faure.

The Former President emphasised the need for African countries to reduce its dependence on exports of primary products but add value to products and improve the diversification of its economies.

Mr. Banda said faster integration of African economies focused on inter-African Trade, removing barriers to mobility of persons and capital investing in infrastructure was one sure way of guaranteeing the continents economic growth.

He urged African Union Member states to embrace the Continental Free Trade area (CFTA), the Tripartite Agreement between COMESA, SADC and EAC which is expected to trade from Cape town to Cairo.

The Former President further urged African countries to come up with export processing Zones like the Lusaka Multi Facility Economic Zone which was focused on producing clean energy while at the same time promoting tourism through a National game reserve linked to the facility.

On the Trade and Development Bank, Mr. Banda said the bank was actively engaged in the African Trade space with the total asset base amounting to US$ 5.4 million as of 30th December, 2017.

And Mr. Banda commended the government of the Federal Democratic Republic of Ethiopia for the young and dynamic leadership that has embraced gender parity.

He said Africa was watching with great interest the transformation that was taking part in Ethiopia.

The 135th Trade and Development Bank meeting is being held under the theme’’ Integrating and Advancing the region’s economies.’’

Issued by

Inutu Mupango Mwanza (Mrs)

First Secretary (Press &Tourism)

Zambia Embassy, Addis Ababa

Ethiopia

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27 COMMENTS

  1. The epitome of corruption himself…

    This chap is a useless man… all talk to action.

    The man who single handedly collapsed LIMA Bank and other cardinal national institutions.

    These are chaps we should never entertain…

    I personally have no respect for countrymen and women who arse their countries and try to talk what they are not.

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  2. We know this already, RB. Not only Africa but the entire global economy is affected. How about focussing on internal solutions than always looking outside of yourselves? You are still sitting on more than 75% of the world’s most needed natural resources.

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  3. RB was a very good president only demonized by the illiterate thug sata who thought Zambia as a country sh.its money.
    RB had the economy ticking along at 6 to 7 % GDP growth and was building roads with very little borrowing….there was some corruption but not as bad as lungu.

    Now everything is titsup. For those in diaspora , give 6 more months and plots will be cheap, cheap when the true mismangment of pf really kicks in. Hold fire. Let them dance dunnuna a bit more…..

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    • HAZALUZA HAGAIN! President LUNGU is a very good President only demonised by the illiterate TRIBAL THUG HAKAINDE HICHILEMA and his TRIBAL UNION of UPND thugs like BoSPAKATA, illiterate LARRY MWEETWA and other HATRIBES.

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  4. The levels of Sinophobia in western countries is at par with Zambia…lol Today Canadian authorities have arrested HUAWEI’s Finance Director,Meng Wanzhou, but details of the arrest have not yet been released.The arrest coincides with moves to restrict the use of Huawei technology in Western countries. The US, Australia and New Zealand have blocked the use of the Chinese firm’s equipment in infrastructure for new faster 5G mobile networks.This is not shocking becuase HUAWEI recently surpassed Apple to become the second-biggest smartphone maker after Samsung.Now you see why MOODYS,FITCH and S&P analyses are always skewed against China.

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    • They NEVER are made to think like you @4. It is a TRIBAL THING! Little knowledge is dangerous no wonder they don’t call it UNDER FIVE for nothing, this includes its tribal followers.

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    • No my friend this man just stole $500,000 when there are kids in thatched buildings masquerading as schools, pensioners and other workers not paid. He is as selfish as the word itself. He really needs to go away

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    • Is that you Prof. HANSON, HAGAIN? Write a letter of protest to the UN about it on a University Letterhead HAGAIN. Please don’t forget to also include the words that it is UNELECTABLE in ZAMBIA.

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    • Is you stinky open pit fixed, go fcuk lungu and so that you kill him and take our problems away, black widow whose open pit causes global warming

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  5. illiterate and cult worshipers of HH will remain hating, sad indeed RB has raised a very cardinal point about trade war, but *****s can choose to underplay this valid point by saying things that are stupid.
    this is because RB supported Mr lungu.what a people we have

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    • UPND is a cult! As long as the PRESIDENT is not TONGA then he will always be CORRUPT! Of course not as corrupt as HAKAINDE MENTAL because to them he is a god.

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  6. Poor journalists Where on earth have u heard of a news story calling someone “His Excellency”. Ni bootlicking ya bwanji?

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  7. AWISI BOYI IS CORRECT THERE ARE ONLY TWO ECONOMIES IN THE WORLD THAT EFFECT TRADES AND OTHERS SIMPLY FOLLOW INFACT ONE THE US BECAUSE OF ITS UGE SHARE OF GLOBAL GDP AND TRADES WITH CHINA ZAMBIAS ECONOMY IS SMALLER I THE CONTEXT OF GLOBAL ECONOMIES AND IN COMPARISON TO THE US ABOVE 17 USD TRILLION GDP PLUS AND CHINA SECOND AT 10 TRILLION USD SIMPLY A MOVEMENTS IN EQUITIES AND FX RESERVES IS SIGNIFICANT FOR ZAMBIA ALSO THE GROWTH RATES FOR THESE TWO ECONOMIES MATTER MOST TO THE ZAMBIAN ECONOMY

    ALL ECONOMIES BECAUSE OF THEIR CORRELATION TO THE TWO WILL EITHER CATCH A COLD OR SNEEZE WHEN THE TWO TRY TO BALANCE EITHER WAY TRADE TRAFFIC

    WHAT ZAMBIA…

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  8. SHOULD BE DOING BEST TO ITS CURRENT POLICY OF ONE CHINA IS TO DIVERSIFY TRADE PARTNERS AND ENSURE RE-BALANCED THAT EXPOSURE AND TRADE DIRECTLY WITH THE US MARKET AND RE-BALANCE THE TRADES WITH CHINA

    THUS SAID ZAMBIA IS NOT IN THE “MISERY INDEX” ACCORDING TO BLOOMBERG ITS FAIRLY COMPETITIVE IN THE GLOBAL COMPETITIVE REPORTS ITS PROGRESSING WELL WITH ITS 7NDP AS READ WITH SNDP TO THE 7NDP MEASURING THE PROGRESS AND THE GLOBAL WORLD DEVELOPMENT INDEX OR COMPETITIVE REPORTS IF YOU CAN ONLY SEE AND USE THE INFO GRAPHICS

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  9. This sharon is so irritating. Evil human being. Hating another human being. Surely u r hell bound. Repent! I r even ignoring that your party is violent , tenders dont make sense.

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