Thursday, June 20, 2024

Finance Minister Highlights Zambia’s Energy Sector Potential for Private Investors at AfDB Conference

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Finance and National Panning Minister Dr. Situmbeko Musokotwane has said Zambia’s energy sector is an attractive proposition for private investment due to the ready regional industrial market.

Speaking on the sidelines of the 58th Annual Meetings of the African Development Bank in Sharm El Shekh, Egypt, Dr. Musokotwane said Zambia is utilizing the gathering to discuss energy sector investments and prospects.

The Finance Minister said apart from scheduled events, the Zambian delegation has also had an engagement with Mr. Kevin Kariuki, the African Development Bank Vice President for Energy, Climate and Green Growth.

“We discussed energy sector investments and prospects for renewable energy projects. It is gratifying that we have convergent views on Zambia’s energy sector being an attractive proposition for private investment due to the ready regional industrial market. We look forward to the Bank playing a more substantive role in regional infrastructure projects, especially in infrastructure development,” said Dr. Musokotwane.

According to the Ministry of Finance Public Relations Unit, the 2023 Annual Meetings of the AfDB in Sharm El Sheikh, Egypt, are now in full gear following yesterday’sofficial opening event.

The meetings comprise statutory events
of its Governors (Finance Ministers or Central Bank Governors representing the 81 member countries and knowledge events).

The 58thAnnual Meetings of the Board of Governors of the African Development Bank and the 49thmeetings of the Board of Governors of the African Development Fund are underway in Sharm El Shekh, Egypt. They will end on Friday, 26thMay, 2023.

The AfDB has been operating in Zambia since 1971 and has committed more than US$ 1 billion to support sectors such as infrastructure, agriculture, water and sanitation, energy, health, education, transport, private sector development, as well as general budget support.

The AfDB’s operations in Zambia are underpinned by the Country Strategy Paper (CSP 2017-2021) extended to 2023.

CSP’s are aligned to Zambia’s National Development Plans.

Meanwhile, Dr. Musokotwane and his delegation on Wednesday also held a bilateral meeting with the Director-General for Africa in the Germany Federal Ministry for Economic Cooperation and Development Ms.Birgit Picke and her team.

During the meeting, the delegation affirmed Zambia’s commitment to enhancing cooperation in various fields of development.

Dr. Musokotwane briefed the German team on the policy choices made by the Zambian Government to aid stabilization of the economy, creation of jobs for citizens, reinvigoration of private sector competitiveness, and creation of an enabling atmosphere for private sector investment in infrastructure development through Pubic Private Partnerships.

She reiterated the commitment of her country to “continue working with Zambia and helping the country to revive and sustain a robust economy.”

3 COMMENTS

  1. Ctn…Uganda has just reported record exports of $674 million alot of it from agricultural exports such as coffee, maize, tea, vegetables and animal exports.

    Can the Minister of Finance and Commerce please tell us what have we earned from agricultural exports?

  2. Ctn…
    How when each year there are no consistent policies on agriculture, and exporting of grain is heavily frowned on as was the case under PF and I’m very saddened to see it is still happening with the NDG. Look we are preventing exports of maize that can earn Forex for truth’s sake.

    Uganda is exporting alot of it’s agricultural produce to DRC and South Sudan.

    What Forex generating national export scheme of agricultural produce has this nation embarked on?

    These are no times to be relaxed, these are missing opportunities or else one day we will be importing maize from DRC as a result of wide spread discouragement with farming the crop because of export controls.

  3. The problem we have with this government is dreaming that foreigners will come and develop this country, This government does not even know how to raise money from the mines but goes to beg worldwide.

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