Thursday, May 30, 2024

President Hichilema calls for more govt., private sector engagement


President Hakainde Hichilema has called for further engagements with the private sector in actualising the potential that the country is endowed with.

President Hichilema said the country has great growth potential that needs to be exploited by the private sector in order to grow the country’s economy.

The Head of State said this when a delegation from the Trade and Development Bank (former PTA) paid a courtesy call on him at the State House today.

He stated that areas such as investment in climate change, green house issues, hydropower among others, can be taken advantage of by the private sector.

President Hichilema noted that the Batoka gorge power project is one area that can be considered for more investment.

“This country has a lot of potential but we are tired of talking about potential, we want to see actualisation of that potential. We will be glad to have conversations around Batoka gorge and indeed other green energy projects around our country and others,” he said.

The President added, “And this will not just benefit our country but the region in terms of green energy, given our challenges around the region with regards to green energy opportunities, this country offers a lot,” he said.

Mr. Hichilema further observed that the cost of projects driven by the cost of capital is among the challenges Africa has continued to face.

He reiterated government’s commitment to lower the cost of capital.

“This continent seems to be standing alone in that context and does affect the cost of doing business, it does affect growth, it inhibits growth,” he noted.

The President added that government is committed to providing a conducive environment for the growth of businesses in the country.

He said doing that will achieve the common objectives which brings about growth as it will allow projects to scale-up, economic growth and more jobs for the young people.

President Hichilema said it is important that business opportunities for the many businesses which have been affected by domestic conditions and variables such as Covid-19 and the war in Ukraine, bring different dimensions to the cost of doing business.

“We want an economy which is growing bigger to deal with these shocks. We want you to deepen the sense of partnership with us. We will ensure the bank delivers value for shareholders,” he said.

Meanwhile, Trade and Development Bank for Eastern and Southern African (TDB) president, Admassu Tadesse, has pledged to work with the Zambian government in advancing its economic transformation agenda through various projects in different sectors.

Mr. Tadesse explained that the board of the bank understands the vision of the Zambian government and its priorities hence the bank’s readiness to collaborate on many areas of mutual interest.

“We had conversant meetings with the various stakeholders and most importantly with the President, we have some very exciting projects which are already on the cards and we hope to be able to achieve these projects and help Zambia to address some of its challenges and move forward,’’ said Mr. Tadesse.

Meanwhile, TDB Fund Chairman, Oliver Saasa said the bank will help to create employment opportunities for young people in Zambia as it is one of the government’s priority.

Professor Saasa explained that the bank will help to actualise various projects in different sectors such as agriculture, mining and cross borders trade.

He said the bank will work to ensure that some of the challenges that young people are faced with are addressed through the various projects which it offers.


  1. Mr President – Pull up your socks. Reality has hit you to the core. The private sector is what will develop Zambia & we have preached this mantra from MMD days. The wealth we are looking for – are creative ideas that must come from Zambians. It’s not those electric boogaloo & inflated promises in your Campaign Speeches & your Inauguration Speech you promised people that Bally Will Fix. Just like Michael Sata lied that – More Money In Pockets.

    Welcome to reality – please don’t give excuses like noted in recent weeks and months. Its so easy to be critical while in opposition because you are not answerable to any utterance you make. Leading a nation is not an easy task. Everyday things pop up that you cannot just control.

  2. HH7 enough of your talk and speeches …just look at ZESCO handing out Pole contracts to foreign firms that buy timber from Zambia when ZAFFICO is there, govt companies should only issue contracts to foreign firms when locals dont have the capacity to do them

  3. HH is 100% right unlike the PF who ruined Zambia’s economy for 10yrs. Growth should be led by private sector growth and investments.

  4. True. If by private companies HH mean foreign companies like Zesco is doing, lets write-off the UPND five year and brace ourselves of the same noncesnse we were subjected to under the stupidd and useless PF government.

  5. This president talks one thing and does the other. Has he forgotten already the ZESCO pole importation. Zambia holds the largest clean water bodies in southern Africa yet he decide to import poles instead revamping ZAFICO which very large forest. This ZESCO deal stinks, Iam sure some his just giving business to his friends and financiers.

  6. You people talking of poles being imported and contract given to foreigners, okay, who in Zambia do you know that is maturing/treating these poles. let alone growing them? Arent you guys burning these down for Charcoal? Secondly, for the past 10years, PF was importing these poles,always, but the contracts were given to Zambian PF cadres,who , in turn outsorced from these very foreign suppliers, but only at three(3) times the manufacturer price. Here what the GRZ has done is to cut the middlemen(PF cadres) and go straight to where these PF cadres were sourcing the product hence saving GRZ 2times more money.So, where is the problem here?

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