Melo News | Thursday, April 11, 2024 | Lusaka
President Hakainde Hichilema emphasized the importance of Zambia and Africa in general attracting capital at a reduced cost, pointing out the historical challenge of securing capital at high rates due to the region’s underdevelopment.
Speaking at the European Union EU-Zambia Business Forum, the President urged the EU and potential investors to assist in mobilizing capital at a more affordable price, aiming to address the issue during the three-day event.
The forum’s focus is on showcasing opportunities for adding value to copper in Zambia and fostering partnerships between European and Zambian entrepreneurs along the copper value chain.
President Hichilema highlighted the necessity of enhancing the value of Zambia’s copper, expressing concerns about the country’s historical disadvantage in capital pricing.
Despite Zambia’s peaceful nature and successful democratic transitions, the President acknowledged the challenges faced in securing fair capital pricing.
President Hichilema called on the EU to promote Zambia as a peaceful and stable investment destination, emphasizing the need for mutual benefits, advanced technology, and strong partnerships.
While acknowledging the presence of noise on social media, the President reassured that Zambia remains steadfast and peaceful, urging the EU to advocate for the country’s business potential.
EU Ambassador to Zambia and COMESA, Karolina Stasiak, reiterated the EU’s commitment to supporting Zambia in maximizing the potential of its mining sector, emphasizing continued collaboration and assistance in this regard.
Stasiak made a commitment to support the growth of capital, the transfer of knowledge, and the access to markets, highlighting the significance of partnerships in promoting sustainable development.
She expressed interest in exploring opportunities in countries such as Zambia, recognizing their potential for development. During the same event, Paul Kabuswe, the Minister of Mines and Mineral Development, emphasized the importance of engaging in value addition as a means to drive the country’s development through increased mining activities.
