Zambia and SA to forge business ties

Zambia is open for business, but Zambian companies should not just expect South African companies to come and invest, they must also go to SA for business, says Zambian Minister of Finance Felix Mutati.

Speaking at the Trade and Investment Mission in Lusaka this week, organised by South Africa’s Department of Trade and Industry, he urged delegates and officials to build on the commitments made by the heads of state of both countries during Zambian President Edgar Lungu’s state visit to South Africa in December last year. The two countries agreed to deepen bilateral trade and investment relations.

“We need to move towards creating a legacy that will translate into economic benefits for our people. This meeting should address how businesses can work with each other. Zambians must not wait for South African firms to come and invest, you must also invest in South Africa,” said Mutati.

Mutati, pictured, who described Zambia and South Africa as powerhouses in their own right, said Zambia had a conducive business environment with a stable economy, predictable tax regime, stable power generation and an abundance of water.

Zambian Minister of Commerce Margaret Mwanakawe said the country was aiming for double digit growth in gross domestic product in 2018 and this presented abundant opportunities for businesses.

She invited businesses to help Zambia to be fully integrated in the value-chain. Zambia was serious about economic diversification and invited investments in the solar hydro-thermal and bio-energy sectors, she added.

“Come and work with us, have a long term view of Zambia, do not trade with us as trading partners but as value-addition partners. Our government will protect you and your business as you do business in the country,” said Mwanakawe. – ANA