…come and invest in Zambia – Mukwita
Zambia’s Ambassador to Germany, His Excellency, Mr. Anthony Mukwita has called on the business community in Germany not to be discouraged by the outbreak of the coronavirus pandemic but instead invest in Zambia.
Ambassador Mukwita said as a member of one of the largest regional economic blocs, the 21member Common Market for East and Southern Africa, COMESA, Zambia provides some of the best investment prospects on the African continent.
“Coming to Zambia means coming to the huge COMESA market that has an equally huge youthful population and 365 days of sunshine. Come and invest in agriculture and feed the world”, He said.
The Zambian envoy was speaking at the opening of a one-hour webinar discussion on investing in Zambia organized by the Association of German Chambers of Commerce and Industry known by its German acronym – DIHK.
Ambassador Mukwita used the occasion to pay tribute to the German government for its contribution of over 28 million dollars to the fight against the coronavirus pandemic in Zambia. He also expressed gratitude to the Association of German Chambers of Commerce, through the webinar convenor and moderator Heiko Schwiderowski, for dedicating time and resources specifically to discussing investment opportunities in Zambia.
Among the speakers was German’s Ambassador to Zambia Her Excellency Anne Wagner-Mitchell. In her remarks, Dr. Wagner-Mitchell noted the economic challenges Zambia was facing that included a debt burden and the impact of the coronavirus pandemic.
She noted with optimism that the Zambian government led by President Edgar Lungu has demonstrated commitment to the resolution of the challenges as may be seen in the recently launched Economic Recovery Program, ERP.
The German Ambassador said the ERP held out hope for Zambia with its clear deliverables and timetable for implementation. However, Ambassador Wagner-Mitchell expressed concern at policy implementation processes in Zambia which she said must be improved if the country has to realize the full benefits of the current economic recovery program.
The webinar discussion included representatives of the German economy in Zambia and the Zambia Development Agency among others. It also included the CEO of Amatheon, Carl Bruhn, one of the largest German investors in the Zambian economy. This was one of the first high level business forums held this year under the cloud of covid-19. Increasingly, more and more business meetings are now being conducted through information and communication technologies as the new normal.
Noting that the pandemic may be around for some time to come, the government of President Lungu has opened the country to investors, tourists and visitors as long as they adhere to public health measures set up to control the spread of the coronavirus.
It is one of the measures government has established to keep the economy afloat and avoid a total shut down which could irreparably damage the country’s economic life.