Bankers highlight digital initiative benefits
ZAM for enhanced value addition
By BUUMBA CHIMBULU
ZAMBIA needs to enhance promotion of value addition and industrialisation while ensuring that taxes are not punitive to suppress industries.
This is according to the Zambia Association of Manufacturers (ZAM) in its submission for the
2022 national budget.
The association has put some recommenda
tions to help companies been holding virtual
which had been affectmeetings with the Min
ed by Covid-19 for them istry of Finance as well
to recover. as the Ministry of ComZAM, he stated, had merce, Trade and Indusalso looked at the tex
seen before,” he told the Mining for
try to ensure that value tile and the garment addition is enhanced Zambia magazine.
sub sectors so that they in the national budget, Meanwhile, Namibia’s Chamber
were able to import says ZAM president, of Mines Chief Executive Officer,
some equipment.
Ezekiel Sekele. Veston Malango, urged the new
“The underlying Mr Sekele explained Government thing to for study us what is value already
that ZAM in its submis
exists, reinforce addition current and industrisuccesses
sion emphasised the
and encourage alisation, the we widespread are sitting need to save industries
adoption at of eight identified percent industry conbest
especially in the wake tribution to the Gross
practices.
of Covid-19 by putting Domestic Product and
Mr Malango said Government
in place measure which Vision 2030 says not less
was unlikely to be fully aware of the
would enhance promothan 20 percent. So we tion of value addition breadth and impact or even the
would like to see more and industrialisation. existence of such programmes.
being done. We need to “For us we want “Some to see companies’ upscale on targets that. see value addition are in more progressive “We also want than to see the mining sector, Government’s value that tax imagining is not used and as a addition the manufacwith a much punitive deeper measure. hands-on Corturing, tourism, and all
understanding porate of income the mining tax for other sectors so that we example in Zambia is
supply chain many company
do not focus more on quite high, we would
supplier development initiatives
importing. We want to like to see a compar
are far more effective in
be proactive in promotative ration to the re
developing sustainable local
ing value addition using gion,” Mr Sekele said.
businesses,” he said.