President Hakainde Hichilema addressed a distinguished delegation of business leaders during the G20 Compact with Africa summit in Germany. In his speech, President Hichilema extended an invitation to the international business community, urging them to consider Zambia as a favorable destination for business ventures and advocating for joint ventures with local entrepreneurs.
President Hichilema emphasized the potential for mutually beneficial partnerships, encouraging foreign businesses to invest in Zambia and collaborate with Zambian counterparts. The appeal was part of Zambia’s commitment to fostering economic growth through strategic international collaborations.
In addition to extending the invitation, President Hichilema addressed the crucial issue of high-interest rates associated with financing African projects. He called upon lenders to reassess risk parameters, advocating for a more favorable lending environment that would allow African projects to benefit from lower interest rates. The President highlighted the significance of affordable financing in supporting sustainable development across the African continent.
Furthermore, President Hichilema stressed the importance of value addition in business ventures, particularly in extractive industries such as mining. By encouraging foreign investors to focus on value addition, he aims to enhance the economic impact of these ventures and promote sustainable development.
The President’s address showcased Zambia’s commitment to creating an attractive business environment, fostering international collaborations, and addressing financial challenges that hinder development projects. President Hichilema’s presence at the G20 Compact with Africa summit aligns with his administration’s dedication to economic diplomacy and attracting foreign investments for the benefit of the Zambian people.