By Mumbi Kalimba Kaseshya
May 27, 2024: Dr. Situmbeko Musokotwane, Zambia’s Minister of Finance and National Planning, has arrived in Nairobi to attend the 2024 Annual Meetings of the African Development Bank (AfDB) Group. The event, which began today and will continue until Friday, May 31, is a key opportunity for Zambia to enhance its networking and investment promotion efforts.
Dr. Musokotwane is joined by Felix Nkulukusa, Secretary to the Treasury, and Dr. Francis Chipimo, Deputy Governor of Operations at the Bank of Zambia. Upon their arrival on Sunday, the delegation was welcomed by Albert Musemuna, Charge D’Affaire at the Zambian High Commission Chancery. Musemuna highlighted the importance of these meetings in reinforcing development cooperation with the AfDB, Kenya, and other partners.
The AfDB Annual Meetings, comprising the 59th Annual Assembly of the African Development Bank and the 50th meeting of the African Development Fund, are centered on the theme “Transformation, the African Development Bank Group, and the Reform of the Global Financial System.” This platform allows high-level decision-makers, development partners, academics, private sector representatives, and non-governmental organizations to exchange knowledge and foster economic diplomacy.
Dr. Musokotwane emphasized that his delegation will actively engage investors, promoting Zambia’s investment opportunities in sectors such as mining, agriculture, green economy, tourism, and infrastructure development. “We are here to learn, benchmark, and share our experiences,” Dr. Musokotwane stated. “Our focus will be to attract investments that create jobs and generate wealth for our nation.”
Beyond attending the scheduled sessions, the Zambian delegation will hold bilateral talks with development partners and investors. Key meetings will include discussions with AfDB President Dr. Akinwumi Adesina, Vice President for Agriculture Beth Dunford, Vice President for Energy Kevin Kariuki, and Vice President for Private Sector Solomon Quaynor. Additionally, the delegation will engage with ministerial representatives from Botswana, Kenya, Malawi, Mauritius, the United States Treasury, and leaders from organizations such as OPEC and Africa Trade and Investment Development Insurance.
During the week-long meetings, Zambia aims to build consensus on economic transformation, food security, and opportunities for micro, small, and medium-sized enterprises. Dr. Musokotwane stressed the importance of maintaining an investor-friendly environment and eliminating bureaucratic obstacles to attract and retain investments.
The Minister concluded by affirming Zambia’s commitment to leveraging these meetings to foster business partnerships, empower citizens, create jobs, and enhance the country’s economic competitiveness.
This is contained in a statement issued by Office of the Secretary to the Treasury,
Ministry of Finance and National Planning.
