Zambia happy with Africa’s 9 trillion dollars expenditure towards infrastructure development


Zambia has expressed happiness with Africa’s annual expenditure of nine trillion dollars towards infrastructure development

Zambia’s High Commissioner to South Africa Mr. Emmanuel Mwamba says Africa’s investment in infrastructure will significantly impact positively on realizing its potential.

Mr. Mwamba was speaking at the Roundtable discussion on Economic Diplomacy held at the Standard Bank in Rosebank, Johannesburg, South Africa attended by several dignitaries and Chief Executive Officers from different private and public-sector.

He said Zambia was happy with Africa’s positive economic outlook despite negative international media reports concerning the continent.

He urged African countries to improve on the negative dominating narrative about Africa as a place of famine, diseases and war.

He said African countries were posting the fastest economic growth in the world and the positive activities in the continent needed to be highlighted aggressively.

Mr. Mwamba encouraged the countries to continue investing in infrastructure development to unlock Africa’s potential in agriculture, Tourism, Commerce and Entrepreneurship

He further encouraged African countries to increase intra trade as the continent had the best business prospects.

He said another key growth point was the huge presence of young people and the demographic dividends can be obtained by investing in education, entrepreneurship, skills development and SMEs.

He cited an example where South Africa imports Soya Cake worth R1 billion from Latin America while Zambia had excess capacity and quantities.

And Standard Bank of South Africa has described Zambia as a key economy in Africa.

The Bank says Zambia was a powerful lever for the growth, peace and prosperity of the continent.

Stanbic Chief Executive Officer for Africa said at the Roundtable discussion on Economic Diplomacy under the theme: Making it easier to do business in Africa.


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