ZAMBIAN FINANCE MINISTER ASSURES INVESTORS OF STABLE ECONOMIC ENVIRONMENT

JOHANNESBURG, Zambian Finance Minister Felix Mutati has assured the investor community in South Africa that Zambia’s economic environment has stabilised following the implementation of consistent economic policies and the country’s economic trajectory is positive and growing stronger as it enjoys entrenched democracy and political stability.

Addressing the Infrastructure Africa Business Forum being held held at the Sandton Convention Centre here Monday, he told the audience, which included South African Trade and Industry Minister Rob Davies and investors from both within and outside South Africa, that Zambia’s macro-economic fundamentals were moving in the right direction as inflation is low and the Kwacha exchange rate stable.

According to a media statement received from the Zambian High Commission (Embassy) in South Africa, Mutati observed that good governance and policy consistency had been the hallmark of Zambia’s economic gains so far and he thanked South African investors for having invested more than one billion US dollars in various sectors of the Zambian economy this year.

Mutati urged African governments to prioritise infrastructure development to enable Africa to compete effectively at the international level. He observed that Africa’s competitiveness was being eroded as freight costs were as high as 200 per cent in most countries.

He said there was a need for innovative financing and better use of existing infrastructure.

He appealed to the private sector to partner with governments to introduce new technologies which would help bridge the infrastructure gap.

Source: NAM NEWS NETWORK