President Edgar Lungu has thanked the Indian government for enhanced cooperation between Zambia and that country.

The President was speaking when he and Indian Prime Minister Narendra Modi witnessed the signing of six Memorandum of Understanding between Zambia and India.

Foreign Affairs Minister Joseph Malanji signed the MoU of Cooperation on Defence and Security, Art and Culture, Diplomacy and Health.

Electoral Commission of Zambia Chairman Justice Esau Chulu signed on Elections and Mines Minister Richard Musukwa signed on mining and Geology.

Mr. Modi said the MoU will further increase cooperation in mining, defence, cooperation in Airforce, Tele-education, Tele-medicine, and elections.

Mr. Modi further said India wants to invest in Healthcare, Agriculture, Food Processing and Mining among others.

Earlier, President Lungu said the Zambia-India Parliamentary Friendship Group bears further testimony of the excellent relations between the two countries.

The President was speaking in Hyderabad House Conference Hall during the bilateral talks with his Indian counterpart.

The President called for the revival of the meetings of the Zambia-India Joint Permanent Commission of Cooperation to ensure implementation of agreed areas of cooperation between the two countries.

On the standoff between Vedanta and Zambia Consolidated Copper Mines Investment Holdings, President Lungu said he met the Vedanta Chairman and that since the matter is in court, it would be best to let the rule of law to take its course.

The President was responding to Indian Prime Minister, Mr. Modi who hoped that the matter be resolved amicably.

The President expressed gratitude to India on hosting patients from Zambia who require specialized treatment and for training extended to Zambia in health.

The President thanked the Indian government for the generosity displayed in the financing and implementation of the Lusaka City Road Decongestion Project.

President Lungu yesterday morning visited the Indian President Ram Nath Kovind and was welcomed at the military parade of the Army, the Navy and Airforce by the President and Prime Minister Modi.

The President also visited the Raghad memorial site and laid a wreath on the grave of Mahatma Gandhi, India’s epitome of freedom.

And the President later in the afternoon addressed the Zambia-India Investment Business Forum attended by some of India’s business personalities.

The President assured the packed audience of the business community from both Zambia and India, of Zambia’s excellent business environment.

Meanwhile India has donated 1,000 tonnes of rice and 100 tonnes of milk to areas in Zambia where there is food deficit.

This is contained in a statement released to ZANIS in Lusaka by the President’s Special Assistant for Press and Public Relations Isaac Chipampe.

The Bank of Zambia has noted that weakening economic growth, load shedding and tightening liquidity in Zambia are threatening financial stability in the market.

And the Central Bank’s Monetary Policy Committee has maintained the policy rate, a key determinant in lending rates, at 10.25 percent.

BoZ Governor Denny Kalyalya says the committee took into account projected inflation remaining above the upper bound of the 6.8 percent target range, tightened liquidity and reduced production owing to electricity challenges.

Dr. Kalyalya noted that increased food prices owing to droughts in the last farming season have also had a negative toll on inflation.

He says the above factors required the upward adjustment for the policy rate but the Central Bank had to hold it pending some measures by the Ministry of Finance.

Speaking during the MPC quarterly briefing in Lusaka today Dr. Kalyalya noted that global growth has equally weakened with demand for copper by China having reduced owing to decline in investment in emerging markets and reduction in global trade due to ongoing trade tensions between the USA and China among others.

And Bank of Zambia Deputy Governor Operations Francis Chipimo said access to finance has remained a challenge for private sector growth and investment.

Dr. Chipimo however said there are a lot of developmental issues being undertaken aimed at enabling the financial sector mobilize savings and lend money to investors with ideas.

By Memory Chipili

“The mantle to develop the North-Western Province rests on all of us as local residents and not non-Zambians to change the status quo and create a conducive economic diversification especially in priority sectors that can produce fruit such as agriculture, tourism, energy, manufacturing and mining.”

Zambia Development Agency (ZDA) acting director Investments Moses Mwanakatwe made the remarks at a Business Symposium held on the sidelines of the ongoing North-West investment exposition in Solwezi where he explained the urgent need for the province to consider venturing into agriculture among other sectors instead of being dependent on mining alone.

Mr Mwanakatwe noted that Zambia boasted of 75 million hectares of land, of which the province sat on 12.5 million hectares.Of that spread, 5.8 million hectares was ready for use but only 2.7 million hectares was in use for agriculture purposes, with 46 rivers dotted across the province as a possible good irrigation option. This made the province a sound potential destination for agricultural investment.

“With all this land lying idle a lot more of jobs could be created if we can all consider taking up the mantle to open up and use this land in both small-scale and commercial farming ventures that will in turn help to improve the living standards of the locals in the province.”

He said in trying to diversify the economy of the country, Government had come up with the concept of farm block development whose aim is to specifically venture into commercialised activities such as livestock, poultry farming, milk processing and fisheries.

“Every province has potentially a total of 100,000 hectares of land set aside specifically for commercialisation of Agriculture purposes, and here in the province we do have the Solwezi farm block which is ready to be exploited by serious Investors,” he said.

Mr Mwanakatwe said the North West Expo has indeed unlocked the potential that the province had to develop through different key sectors aside from mining.

He said, for instance bee-keeping could be commercialised if value-addition was considered through honey processing factories, whose ripple effect would create jobs for locals and change their livelihood.

Mr Mwanakatwe added that the province was free from livestock diseases that affect other parts of the country, and from pests found in farming areas in other provinces.

“I challenge you, be you Zambian or non-Zambian, to come and approach the provincial administration and invest in the sector and take up the opportunities that are currently available and ready to be explored.”

Provincial permanent secretary Willies Mangimela said that the objective of hosting the province’s first-ever trade and investments Expo was to create long-lasting opportunities that would transform the local communities and give potential investors vital information.

“I encourage all exhibitors, partners and our visitors to reflect deeply on the theme and utilise the platform that is provided to get maximum benefit both business and networking purposes,” Mr Mangimela said. – Courtesy of SUMA SYSTEMS.

Open dialogue and transparency between government and the private sector is needed to improve and safeguard Zambia’s investment climate, says First Quantum Minerals.

The mining firm believes that a natural equilibrium must also be sought that sees Zambian people share the benefits of the country’s natural resources while also making investments a true business proposition for the private sector.

Speaking at this week’s Expo North West Zambia 2019, FQM Country Manager General Kingsley Chinkuli said that to stimulate an influx of new investors in various sectors in North-Western Province there was need for a better understanding of investors and investment requirements.

The Expo, of which FQM is the major sponsor, is being held under the theme ‘Unveiling the Hidden Treasures’.

“The province’s copper and gold resources have been unveiled by our company and others, creating a new and modern ‘Copperbelt’. To unveil that which is still hidden in the ground requires a positive policy on exploration. This province needs the next mine to come online in the near future, and it needs extension of the lives of existing mines,” said General Chinkuli.

However, he explained that despite the challenges of mining low-grade copper deposits of just 0.51 percent, First Quantum’s success was founded on three pillars that have enabled the investment to be unlocked: the nation’s natural resources; significant amounts of capital raised from international markets; and cutting edge skills and expertise drawn from across the globe to ensure the ore is mined profitably.

“The ‘glue’ that binds those three ingredients together is a strong partnership between government and the private sector in the form of genuine constant dialogue to deal with challenges and achieve our common goal of ensuring Zambia is a competitive environment in which to do business,” he added.

First Quantum Minerals remains committed to that transparent partnership, along with the sustainability, environmental responsibility and governance that form the bedrock of its approach to business, he said, adding that investment in people would attract further business to the area, confident there is an educated, skilled and eager workforce available, and that in turn will ensure the market will continue to grow, creating new employment for people who themselves become a market for yet more businesses.

“We firmly believe that the solutions lie in North-Western Province’s other ‘hidden treasures’. First Quantum believes that forestry is a great treasure worth protecting for an economic and orderly exploitation for the benefit of this land. This province has empty game reserves. These should be stocked with game for investment in tourism. We are taking a lead in this area.

“Our direct involvement in agriculture at community level through our Trident Foundation keeps growing every year, clearly demonstrating this region’s hidden treasure in its soils and weather. The production coming off our community farms through conservation farming should encourage any investor to take up investment in this area,” said General Chinkuli.

Speaking when he opened the expo, President Edgar Chagwa Lungu said that the Expo demonstrated government’s long-standing commitment to improve the use of resources, to promote diversification, industrialisation, job creation and poverty reduction.

“My government is committed to accelerating economic development by supporting such events, which are aimed at attracting both local and foreign investors. This is for us to exploit and unlock the investment potential that North-Western Province has in various sectors,” he said.

President Lungu added that government believed the private sector was a catalyst to supporting its quest to improve the livelihoods of its people through wealth and employment creation in line with the country’s Vision 2030.

Agriculture Minister Michael Katambo says crop diversification has the potential to increase availability of affordable, healthy foods and food security.

Mr. Katambo says with climate change effects becoming severe on food production, crop diversification will help avert the negative impacts and increase income for many households.

He said this in a speech read for him by Chief Agriculture Detention Officer Katuka Chongo during the launch of Beyond maize study report by Hivos in Lusaka.

Mr. Katambo expressed happiness that Hivos and cooperating partners are working with government on diversification efforts.

He said such systems are key in improving incomes for smallholder farmers.

And Hivos Senior Programs Manager Sustainable Diets Frank Mechielsen noted that Zambia has the potential to grow lots of food beyond maize which would be easy to feed the nation.

Mr. Mechielsen said the Sustainable Foods for All program is aimed at advocating for policy change for governments to effectively embrace food diversification.

Meanwhile, Hivos Southern Africa Regional Director Tanja Lubbers also reiterated the need to diversify Zambia’s crop production to mitigate foot shortages.