The new Board of the Zambia Development Agency (ZDA) last week paid a courtesy call on Commerce, Trade and Industry Minister Christopher Yaluma with a pledge to ensure that the ZDA continues to promote reinvestment and attract quality investments, deliver real development to Zambian people and ensure the sustainability of such development.
Representing the new board, Chairperson Fisho Mwale says the board will focus much energy on local direct investment while at the same time ensure foreign direct investment benefits the people of Zambia.
Mr. Yaluma recently appointed a new ZDA board which consists of private sector representatives and representatives from government line ministries.
The board will be chaired by Mr. Fisho Mwale and deputized by Mr. Enock Bwalya both from the private sector.
Other private sector representatives that have been appointed to the board are Ms. Chisoma Lombe, Ms. Chipego Zulu, Mrs. Rabecca Katowa, Mr. Robinson Chongo Mwansa, and Bishop David Musonda Masupa.
And the government line ministries are represented by permanent secretaries from the Ministry of Commerce, Trade and Industry; Ministry of labour and social security; Ministry of Finance (Budgets); Ministry of General Education; Ministry of Agriculture; Ministry of Mines and the Attorney general from the Ministry of Justice.
Mr. Mwale says he also wants to make the Agency more visible and relevant to the Zambian people.
He further emphasizes that his Board will focus on seven key pillars which include providing advice to government on country recovery roadmap post-Covid 19 based on ZDA’s strategic position of being the practical link between government and the private sector.
“The board will, therefore, support the development and implementation of industrial development strategies based on research and innovation that is oriented around reverse engineering and in line with the priority sectors as stipulated in the Seventh National Development Plan,” explained Mr. Mwale.
“The other pillar of focus is reinvestment by promoting the expansion of existing businesses in Zambia as a competitive strategy to reduce unit costs through economies of scale,” he added.
The board Chairperson adds that reposition Zambia’s international business by focusing on unique resources and Zambia’s comparative and competitive advantage to create sustainable and export-oriented businesses is another key focus area.
Mr. Mwale notes that arising from the population of Zambia, which creates a limited market, export focus and promotion of non-traditional export products would be paramount with a focus on unfilled markets of DRC, Zimbabwe, Angola, and southern Tanzania
He adds that as part of the sustainability strategy, promoting meaningful joint ventures, green investment, partnerships between foreign investors and local investors including Micro, Small and Medium Enterprises, and supporting efforts towards the promotion of impact investments and capital to speed up the attainment of the sustainable development goals.
Meanwhile, Mr. Yaluma congratulated the new board members and wished them well.
Mr. Yaluma encouraged the new board to work hard and produce the expected results for the people of Zambia.
He emphasized that the Zambia Development Agency should be able to deliver in accordance with its mandate of promoting investment, trade, and enterprise development which leads to wealth and employment creation for the people of Zambia.