Africa-Press – Zambia. President Hakainde Hichilema has called for further engagements with the private sector in actualising the potential that the country is endowed with.
President Hichilema said the country has great growth potential that needs to be exploited by the private sector in order to grow the country’s economy.
The Head of State said this when a delegation from the Trade and Development Bank (former PTA) paid a courtesy call on him at the State House today. He stated that areas such as investment in climate change, green house issues, hydropower among others, can be taken advantage of by the private sector.
President Hichilema noted that the Batoka gorge power project is one area that can be considered for more investment. “This country has a lot of potential but we are tired of talking about potential, we want to see actualisation of that potential. We will be glad to have conversations around Batoka gorge and indeed other green energy projects around our country and others,” he said.
The President added, “And this will not just benefit our country but the region in terms of green energy, given our challenges around the region with regards to green energy opportunities, this country offers a lot,” he said.
Mr. Hichilema further observed that the cost of projects driven by the cost of capital is among the challenges Africa has continued to face. He reiterated government’s commitment to lower the cost of capital.
“This continent seems to be standing alone in that context and does affect the cost of doing business, it does affect growth, it inhibits growth,” he noted. The President added that government is committed to providing a conducive environment for the growth of businesses in the country.
He said doing that will achieve the common objectives which brings about growth as it will allow projects to scale-up, economic growth and more jobs for the young people.
President Hichilema said it is important that business opportunities for the many businesses which have been affected by domestic conditions and variables such as Covid-19 and the war in Ukraine, bring different dimensions to the cost of doing business.
“We want an economy which is growing bigger to deal with these shocks. We want you to deepen the sense of partnership with us. We will ensure the bank delivers value for shareholders,” he said.
Meanwhile, Trade and Development Bank for Eastern and Southern African (TDB) president, Admassu Tadesse, has pledged to work with the Zambian government in advancing its economic transformation agenda through various projects in different sectors.
Mr. Tadesse explained that the board of the bank understands the vision of the Zambian government and its priorities hence the bank’s readiness to collaborate on many areas of mutual interest.
“We had conversant meetings with the various stakeholders and most importantly with the President, we have some very exciting projects which are already on the cards and we hope to be able to achieve these projects and help Zambia to address some of its challenges and move forward,’’ said Mr. Tadesse.
Meanwhile, TDB Fund Chairman, Oliver Saasa said the bank will help to create employment opportunities for young people in Zambia as it is one of the government’s priority.
Professor Saasa explained that the bank will help to actualise various projects in different sectors such as agriculture, mining and cross borders trade.
He said the bank will work to ensure that some of the challenges that young people are faced with are addressed through the various projects which it offers.
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