Business

Allow more FDI – economist

ESTHER MSETEKA, Lusaka
ZAMBIA should further open up for foreign direct investment (FDI) in all sectors in order to continue registering growth in the economy, Renaissance Capital global chief economist Charles Robertson has said.
Mr Robertson, who heads Renaissance Capital’s micro-strategy unit, advised Government to position its economy from competing for investment to participating fully on a global stage if the country is to register real growth in all sectors.
He said there is need for Zambia to highlight the different opportunities that the economy can offer to investors.
“The country should take advantage of Africa’s economic revolution and open up to the world for investment in its various sectors, including non-traditional sectors, fast moving consumer goods, telecommunications, media and technology, logistics and distribution, infrastructure and agro-processing,” he said.
Mr Robertson, who is a leading emerging markets specialist, said the country is well-positioned to capitalise on the increased FDI coming into the continent.
“Africa is going to go from a US$2 trillion economy to a US$29 trillion economy in 2050. This leap is an opportunity for countries like Zambia, which is already on an economic growth path, to graduate from competing for investment to opening up to the world and participating on a global stage,” he said.
In December, Pangaea Securities and the Zambia Development Agency (ZDA) will host an  investment conference to enable Zambian business leaders share their business experience, inspire upcoming enterprises and those that have being in business for a long time.
At the conference, Government is expected to highlight Zambia’s economic growth over the past few years and the different opportunities that investors can access.
“Africa is experiencing growth and is no longer a continent known for conflict and civil strife,” he said.
Commenting on the event, Pangaea Securities chief executive Ceaser Siwale said the conference will be a platform that will bring together renowned entrepreneurs.
Mr Robertson will be among several speakers at the conference.

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