Increase infrastructure funding to boost economy - EAZ

ZAMBIA needs to enhance infrastructure funding under the private public partnerships (PPPs) to boost the economy, says Economics Association of Zambia (EAZ) president Lubinda Haabazoka.

Dr Haabazoka said infrastructure had pay off economic benefits in the future which opened up the economy to investment flows.

Africa has a combined population of about 1.25 billion with a combined gross domestic product (GDP) of US$2.5 trillion yet Africa has an im - mense opportunity to trade with itself.

“Funding infrastructure projects such as the dual carriage project would help ease the costs of finance and would allow for non-traditional sources if cheaper finance,” Dr Haabazoka said.

Dr Haabazoka this said recently at a media briefing in Lusaka that his association supported infrastructure development in light of the gap that Zambia had.

He also observed the need to boost manufacturing capability to position Zambia for Intra Africa trade.

He said an opportunity in Intra Africa trade exited for Zambia because Africa consumed most products which were not produced within the region.

“Africa has a combined population of about 1.25 billion with a combined gross domestic product (GDP) of US$2.5 trillion yet Africa has an immense opportunity to trade with itself,” he said.

Dr Haabazoka however said this would require that African nations started to produce competitive products on the international markets.

The Africa Free Trade Area, he said, was one initiative that African countries had taken up to actualize intra Africa trade.

“Other initiatives include Mansa digital platform that will enhance the visibility of African businesses to allow for trade with each other; intra Africa trade will address some of the trade imbalances the continent faces today, " Dr Haabazoka said.