The Bank of Zambia has projected an increase in Luapula’s contribution to the overall national Gross Domestic Product (GDP) due to numerous investments in the Province.
According to BOZ Director of Economics, Jonathan Chipili said Luapula has leaped from a 2.8% national GDP contribution to 3.2% as a result of the Luapula Expo of 2017.
Dr. Chipili explained that the impact of the Luapula Expo is being felt so early according to the figures by Zambia Statistics Agency availed to the Central Bank.
And speaking shortly after he visited the Sunbird Bioenergy Cassava and Kawambwa Tea projects in Kawambwa, BOZ Governor Christopher Mvunga acknowledged the efforts that the Luapula Provincial Administration was putting in which had translated into real economic development.
Mr. Mvunga said the continued support of projects with export potential will stabilize the economy.
Mr. Mvunga said the Central Bank will ensure there is financial stability for Commercial Banks and the Development Bank of Zambia (DBZ) to finance export potential projects such as Sunbird and Kawambwa Tea.
Mr. Mvunga said that initiatives that help Zambia produce more export goods should be supported for the good of the economy.
The Central Bank Governor said the government must continue to implement import substitution industrialization policies in order to solve the structural imbalance in the economy where the country is currently importing more than it is exporting.
Mr. Mvunga has since commended the Luapula Provincial Administration for holding the Luapula Expo in 2017, a move that has attracted investments in the Province.
And Luapula Province Minister Nickson Chilangwa said the economy of Zambian would be grown more from the peripherals than the center because of increased productivity.
Mr. Chilangwa, who was flanked by Permanent Secretary Charles Mushota, said the visit of Mr. Mvunga will help him make an assessment of how the Province is embarking on import substitution initiatives.
He praised Mr. Mvunga for visiting Luapula.
Is that it ?
The same tea plantation that received mukula tree money and cassava ???
I was expecting something new …..
You are jokers….
LIES LIES LIES
With Zambia’s continued GDP shrinkage its very much easier for Luapula to move up .That expo of 2017 is just a smokescreen to lie especially if we remember the previous BOZ governor was removed for questioning PF’s voodoo economics.
Mansa is still not a City like Chipata
I expect Luapula’s contribution to GDP to start growing every year. There has been lots of capital expenditure in that place by both government and the private sector. Commercial cultivation of cassava which ends up as an input in one of Zambian Breweries beer brands, cane sugar cultivation, mining and tourism investment around Lake Bangueulu etc should all add to this growth. If we restore a low inflation, low interest rate environment, we can see a real economic take-off in Luapula.
Luapula has many water bodies and receives adequate rainfall every year. There are still large tracts of land that remain unutilized. We seriously consider fish farming. Luapula can produce food and other agro products the whole year because there’s abundant water. There’s a ready market for agro products in the DRC. Nixon Chilangwa has really tried, he deserves honour and support. Government needs to work on the roads, especially the trunk roads. Most places are inaccessible for abput 6 six months because of water that washes away the gravel, while some places are flooded. This is what slows down development. There are many tourist sites. Luapula has the potential to make significant contributions to the GDP
“Mansa scientists develop resistant cassava
August 6, 2010
THE Zambia Agriculture Research Institute, under the Mansa Research Station, has started developing cassava varieties which are resistant to diseases.
This is to counter the many diseases affecting cassava in Luapula Province, resulting in low yield.”-LT
PF time out, third term does not represent:”Lady Justice is a well-known symbol of our justice system. She proudly holds scales, which represent the weighing of evidence on its own merit. … The blindfold represents our justice system being blind to a person’s wealth, power, gender and race.”
All this initiated by one ECL under the great PF government. Where is HH who claims to be a businessman? The f00lish boy is busy on faycebook chasing after young girls while chellah tukuta is hammering his wlfe
The troll has no lead in his small pencil……
thats why he is always talking of other peoples wife’s…….
We have information that Freedom sikazwe is servicing lungus wife……..
We have information that Freedom sika.zwe is servicing lungus wife……..