President Hakainde Hichilema says Zambia remains a strategic destination for investment owing to the abundant Natural Resources the country is gifted with.
Speaking at the African Mining Indaba in South Africa, President Hichilema said Zambia remains committed to ensuring a conducive environment for investment through favorable Policies and Laws.
He cited the recently signed Memorandum of Understanding (MOU) between Zambia and neighboring Democratic Republic of Congo for the production of Electrical Vehicles and Batteries as one area the country has made significant progress in production and processing.
The Head of State challenged African Leaders to remain intolerant to corruption, adding that the focus should be on building capacity for Africa in the processing of raw materials into finished products, through ventures such as Electric Vehicle Production, as opposed to only exporting to other continents.
He reiterated the need for African Leaders to ensure that mineral resources are exploited for the benefit of the local people.
“Since coming in office 8 months ago our government has been determined and focused on efforts to revive the economy of Zambia,” he said.
And Economist Kelvin Chisanga has welcomed President Hakainde Hichilem’s involvement in the African Mining Indaba taking place in Cape Town South Africa.
Mr. Chisanga said the mining industry in Zambia is one of the biggest bases that the country has to foster economic growth, therefore participate at a global stage calls for an imperative attachment to it.
He noted that there is need to ramp up production in terms of mining activities, stating this will enable government to realign some of the taxes which the mining sector has been slapped with.
The African mining indaba has officially opened today 9th May and will run until 12th may 2022 and is being held under the theme, ‘Evolution of African Mining: Investing in the Energy Transition, ESG, and the Economies’.