Business

‘Zambia to get more investment’

THE Zambia Development Agency

KELLY NJOMBO, Lusaka
THE Zambia Development Agency (ZDA) says Zambia is expected to receive more investments after the August 11 elections compared to the first half of the year, because the country will still remain peaceful.
ZDA director general Patrick Chisanga says the agency expects more investments after the elections because Zambia will be vindicated as a non-violent country.
According to a statement availed to the Daily Mail by ZDA communications and public relations manager Margaret Chimanse, Mr Chisanga said economic fundamentals such as the exchange rate and inflation are expected to stabilise.
“We expect that the investment inflows into the country will remain strong based on the positive trends that we have recorded, particularly in the last few years and the first half of the year 2016 where we recorded a number of significant investments such as the Sunbird Bioenergy project, the Maamba Collieries Coal Fired Plant, mining on the Copperbelt and North-Western provinces, to name just a few,” Mr Chisanga said.
He said the country has continued to receive investment pledges despite the campaign period.
Mr Chisanga said from January to July this year, the country received investment pledges of slightly over US$1.8 billion, a 20 percent increase in the level of pledged investment compared to the same period in 2015.
He said the energy sector received a lot of response from investors taking more than 45 percent of the total pledged investments in solar, biomass and thermal energy in the period January to July, 2016.
Mr Chisanga said the Maamba Collieries Coal Fired Thermal Plant, which was recently commissioned by President Lungu, is one of the successful energy projects contributing 150 megawatts of power into the national grid.
Mr Chisanga said the agriculture sector where the Government has reserved one million hectares of land for agricultural purposes was second.
He said other sectors attracting investments are manufacturing and tourism.
Mr Chisanga appealed to all Zambians to uphold peace, adding that any kind of violence before and after the elections would disrupt investor confidence the country enjoys from the international community.

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