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Load shedding will not affect FDIs, says ZDA

ZAMBIA Development Agency (ZDA) has allayed fears that the country’s foreign direct investments (FDIs) will be affected by the current load shedding as the country is well positioned for an upswing in pledged investments before the end of this year.
ZDA projects to attract over US$4 billion in FDIs recorded last year.
“The picture emerging from April onwards [is that], the situation is showing an upswing in pledged investments and we are sure that we will close the year on a much more attractive investment profile than last year,” ZDA director general Patrick Chisanga said in an interview recently.
He said the country’s political stability, which is one of the greatest assets any country can have, will attract further investments.
“We have demonstrated that we are an oasis of political stability which is a major asset in terms of attracting investment. We have a very enlightened set of policies in terms of ease of doing business, licencing and support to the private sector,” he said.
Mr Chisanga said the private sector is fully aware that the load shedding is due to climatic condition factors as a result of poor rains experienced in the last rainy season.
He commended the private sector for being supportive in taking measures to boost production.
Mr Chisanga also said there is a new wave of investments in the energy sector that is already on stream and will have a combined generation of power exceeding 600 megawatts to alleviate load shedding the country is facing by the end of the year.