President Banda Urges South Africa to be Part of Zambia’s Boom
Rupiah Banda of
sector at the Zambia South Africa Business Forum in
Speaking to a group of business and political leaders, including South
a means of improving national and regional development and prosperity.
President Banda said, “We recognise that
of the benefits of trade and investment. Only then can we raise living
standards of our citizens, create even more jobs and reduce poverty.”
The speech came as part of President Banda’s three day State Visit to
economic cooperation. He offered a host of investment opportunities,
including in mining, production of high tech products, energy, oil
exploration, tourism, and agriculture.
President Banda also highlighted the potential of
geographical location and proximity to growing markets to make it a stable
gateway to the region for
He said, “
sectors. Wealth, jobs and yet more opportunities are being created. Now is
the time to take advantage. A politician would normally say something like
is already doing business, why not join us?’ There is nothing like good trade
to cement international relations.”
The President outlined how infrastructure and technology improvements
for all companies and entrepreneurs – for example, the commissioning of the
Zimba-Livingstone Road and the imminent roll-out of high-speed broadband to
recognised by the World Bank, which last month it named it as one of the top
ten worldwide reformers in the 2011 World Bank Doing Business Report.
2010, having attracted
This marks a significant increase from 2009′s
global confidence in the Zambian mining sector. This has translated into at
least 36, 000 new jobs.
In 2009 the Zambian economy grew by 6.4% against the projected growth
rate of 4.3%. The 2010 GDP growth rate is expected to be 6.6% and inflation
has been reduced, offering a stable and desirable investment climate in 2011