State wins kudos over improved credit rating

THE Private Sector Development Association (PSDA) has commended Government for Zambia’s rating which has risen into the medium human development category from 167 to 141.
Mr Dodia said it is good that Zambia has been  given positive rating because it means that the country has improved. The rating will also build confidence in the investors to put their money in Zambia.
“We are a country that is consistently looking to developed countries for assistance and this rating therefore calls for more dependence on domestic findings,” Mr Dodia said.
He said Zambia’s rating should serve as an encouragement to do better and not relax as there is a lot to be done to ensure that Zambians have better living standards.
Mr Dodia said there is however need to lower the cost of doing business by ensuring that fuel prices and electricity are low.
He said there is also need to ensure that salaries for workers are corresponding to the changes in goods and services and general living standards.
“Fuel increase has always been a problem in Zambia because it adds to the cost of doing business, cost of living and generally affects manufacturing and transportation of raw materials, fuel [prices] should be reduced,” Mr Dodia said.

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