Business

Biofuel players cry for low interest rates

ESTHER MSETEKA, Lusaka
AN EXPERT in the biofuel says there is need for Government to establish a low-interest biofuels fund which can be accessed by Zambians for various operations in the biofuels value chain.
Biofuels Association of Zambia chairman Thomson Sinkala said to enhance inclusive growth, citizens must be active along the value chain as entrepreneurs and skilled manpower.
Professor Sinkala said introducing low interest rates will enable Zambian companies to competitively participate in the sector and positively contribute to wealth creation.
“Natural resource-based industries with assured markets will give citizens economic comfort and create assured investments in diversified and sometimes risky areas of the economy,” Mr Sinkala said in a presentation during a Zambia Development Agency (ZDA) and private sector liaison forum workshop on the investment incentives and the tariff structure in the energy sector.
Prof Sinkala said the use of renewable energy is the way to go as it benefits a large number of people.
Earlier, ZDA and private sector liaison forum chairman Geoffrey Sakulanda said in a well-performing domestic economy, it is important to acknowledge the numerous challenges faced by both local and foreign investors, with respect to doing business in Zambia.
Mr Sakulanda said there is an absence of regular engagement between the private and public sectors on industrial issues with regard to addressing competitiveness.
“We value this type of public-private sector dialogue as it enables us obtain vital information which is useful for formulation of appropriate policies aimed at improving the investment climate and help sustain the economic development across the country,” he said.

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