Economics Association of Zambia president Dr Lubinda Habazoka has called on South Africa businesses operating in Zambia to increase the use of local banking services.
Dr Habazoka has said the use of local banks will help foreign businesses sustain their investments in Zambia.
He was speaking at the 4th Zambia -South Africa Bussiness Forum held in Johannesburg, South Africa.
Dr Habazoka assured foreign investors of security for their investments as Zambia was politically and economically stable.
He said there was need for foreign businesses to increase the use of local banks and products for foreign businesses to help grow Zambia’s economy.
Dr Habazoka encouraged South African businesses to liberalise their trade policies in order to accommodate more local products, particularly in the retail sector.
He said this will help level the playing field between the two countries.
Dr Haabazoka said Zambia was a primary destination for capital investments as it was peaceful and had stable economic apparatus.
The Business Forum was organised by the Zambian Mission in Pretoria, South Africa, the Zambia-South Africa Business Forum and Zambia Development Agency, among others.
It was attended by over 250 business executives and government officials who included North Western Province Minister Nathaniel Mubukwanu and Zambia’s High Commissioner to South Africa Major General Jackson Miti.