FINANCE and National Planning Minister, Situmbeko Musokotwane has pledged to ensure that Zambia’s economic growth is not overturned by the prevailing global crisis.

Dr Musokotwane said attracting foreign capital, in the face of the shrinking foreign direct investment (FDI) in the world, was also key to the improvement of Zambia’s economy and his target was to attract at least US$3 billion in investment annually.

He said if Zambia could attract between $3 billion and $4 billion worth of FDI every year, the national economy would stay afloat even with the current troubled economy of the world.

Dr Musokotwane said this in an interview in Lusaka yesterday when asked about his immediate pre-occupation, shortly after being sworn in by President Rupiah Banda at State House.

He said the 2009 national Budget would contain measures that would insulate Zambia against the possible effects of the current global financial trends while ensuring that economic benefits trickled down to the people.

He said that his ministerial team would put in place measures, which would counter the offshoots of the current economic difficulties in the world, which had been augmented by nose-diving copper prices.

“We will have to ensure that the Zambian economy does not post a negative national growth,” Dr Musokotwane said.

Dr Musokotwane said Zambia should further sell its investment potential individually because it had several unique advantages and it should therefore not be lumped together with other countries.

He said Zambia’s economy was small and investment of at least $3 billion annually would suffice to keep the economy buoyant.

Dr Musokotwane said that the investments, both local and foreign, would offset any possible effects of the slump in the global economy and the lowering prices of copper at London Metal Exchange (LME).

“We will continue talking to investors both local and foreign on the investment potential in the country,” he said.

He said that the 2009 Budget should also continue ensuring that the economic successes scored so far were translated into something concrete and trickled down to the majority of the people in the country.

Times of Zambia

Finance Deputy Minister, Chileshe Kapwepwe almost wept when she was being sworn-in by President, Rupiah Banda, on Monday morning.

Ms. Kapwepwe later told ZNBC news that it was an emotional moment for her to be sworn in as Deputy Minister.

She said this was the same ministry where her late father, Simon Mwansa Kapwepwe served as Minister in the first Republic.

She said her father would have been very proud of her appointment because she was following in his political footsteps.

Ms. Kapwepwe also said her appointment is a political comeback for the Kapwepwe family.

Mr. Kapwepwe was a freedom fighter who helped to liberate Zambia.

He also served in various ministeries and was later appointed Vice President in 1967.

Mr. Kapwepwe in 1980 after suffering a stroke.

ZNBC

Southern Province Minister, Daniel Munkombwe has dismissed claims that Southern province has no representation in the new cabinet.

Mr. Munkombwe said President Banda has not marginalised the province because, Bradford Machila, who comes from Southern province is a cabinet minister.

Mr. Munkombwe was reacting to reports quoting some Chiefs in the province as saying the region has no representation in the new cabinet.

Mr. Munkombwe was speaking in an interview with ZNBC News in Livingstone.

He thanked President, Rupiah Banda, for re-appointing him as Provincial Minister and has pledged to redouble his efforts towards implementing programmes that will help to develop the area following his re-appointment.

Mr. Munkombwe wants the economic zone facility extended to the province, especially Livingstone.

He has also pledged to engage Chiefs and their headmen in the development process.

And a ward councilor in Kazungula district in southern province has bemoaned the high levels of hunger in the district.

Davidson Sikasibi, who is Moomba ward councilor, told ZANIS in Kazungula today that there is urgent need to send relief food to the area.

He attributed the hunger to the floods that left a trail of crop destruction during last year’s farming season.

He also noted that although the area has not yet received farming inputs, people have started to farm.

Meanwhile, Mr. Sikasibi has appealed to contractors working on a bridge in Kazungula to speed up the rehabilitation works to enable the train reach Moomba area.

He said currently, people were finding difficulties in going to town as the nearest place at which the train was stopping was 50 kilometres from Moomba.

END/FM/AM/ZANIS

President Rupiah Banda has urged the new cabinet to ensure they work towards delivering promises made during the campaign for the October 30th poll.

President Banda expressed confidence that the new team will work to move the country forward adding that cabinet should also remain united in order to achieve its developmental objectives.

Mr. Banda said this when he swore in newly appointed republican vice president George Kunda, who is also Justice minister, ministers and deputy ministers.

Those sworn in included finance and economic planning minister Situmbeko Musokotwane and his deputy Chileshe Kapwepwe, minister of local government and housing Benny Tetamashimba, mines minister Maxwell Mwale and sport, youth and child development minister Kenneth Chipungu.

Others are labour and social security minister Austine Liato, tourism deputy minister Moses Mwangala, sports, youth and child development deputy minister Christopher Kalila, Eastern province minister Isaac Banda, Northwestern province minister Joseph Mulyata.

And speaking to ZANIS after being sworn in Finance and National Planning Minister Situmbeko Musokotwane described his appointment as a challenge.

Mr. Musokotwane said his appointment has come at a time when Zambia is trying to find a solution in order to cushion itself from the global economic crisis.

He said his ministry is also currently preparing the 2009 budget which is aimed at addressing many challenges the country is faced with including sanitation.

And Mr. Musokotwane has said government will devise measures to attract three to four billion US dollars worth of investments into the country annually.

He said the government will continue to provide a favorable environment for investments in order to woo more investors into country adding that there are currently other measures to stimulate economic growth.

The finance minister said government will further continue approaching investors across the globe to bring money into the country for investment in various sectors including infrastructure development.

And Mines Minster Maxwell Mwale disclosed that he had a meeting with chief executive officers of all mining companies in the country to discuss the falling world copper prices.

Mr. Mwale said government will ensure that all the mining continue to operate by dialoguing with the mining companies and considering high cost elements in the industry.

Mr. Mwale has said that government will also actively pursue oil explorations in North Western Province adding that it will also re advertise 16 blocks available for exploration as indicated in the mining act that was recently passed in parliament.

Meanwhile Communications and Transport Minster Dora Siliya has called for measures to overhaul business strategies in Zambia Telecommunications Company (ZAMTEL).

She noted that Zambia’s telecommunication growth has continued to lag behind adding that the recent strikes that rocked the country’s parastatal has led to loss of money.

Ms. Siliya also disclosed that Zamtel is currently owed over 620 US dollars in debts by its clients adding that there is need to revamp the company in order for it to generate wealth for social services.

A 17-year-old boy in Chavuma has had his leg amputated after stepping on a grenade in neighbouring Angola.

Steven Nguvulu, a Grade Nine pupil at Lingele-ngende Basic School in Ching’i area in Chavuma district allegedly stepped on the grenade as he was hunting.

Chavuma District Commissioner, Frobisher Fulayi, confirmed the development to ZANIS saying the incident happened on Friday last week.

“Yes, I can confirm that the a Grade 9 pupil by the name of Steven of Chavuma district has been amputated following a hunting spree where he accidentally stepped on a grenade that later exploded affecting his left leg,” Mr Fulayi said.

Mr Fulayi explained that Steven had his leg amputated at Chavuma Mission Mission hospital where he was rushed to after the explosion.

He appealed to Chavuma residents to desist from straying into the neighbouring country even when faced with serious hunger situation.

The district commissioner attributed the accident to the lack of clear boundary demarcation between the two countries in the area.

“My appeal to the Chavuma residents is for the people to desist from entering neighboring countries because they do not have any business to do there” He said.

” Zambia has got plenty of food so people should stay in villages,” Mr. Fulayi said.

Meanwhile, Mr. Fulayi has disclosed that Steven is ready to write his final Grade 9 examination from his hospital bed.

Grade nine final examinations are scheduled to commerce today, Monday November, 17, 2008.