Luapula Expo game changer!

Sat, 29 Jul 2017 13:20:38 +0000

THE hosting of the expo and investment conference aimed at linking investors to Luapula Province and unlocking economic potential demonstrates Government’s commitment to creating a diversified economy.

However, it is ironic that a province such as Luapula which is endowed with vast natural resources and arable land for cultivation, has remained as one of the least developed in Zambia. This status quo must change.

There can be no convincing explanation to justify why the people of Luapula should continue to live in poverty when the  region has everything it takes to become the
country’s economic hub.

The identification of the seven priority sectors for accelerated investment will not only improve the economic status of the  local people but also ensure the implementation of the recently launched Seventh National Development Plan whose goal is to create a diversified and resilient economy for sustained growth and socio-economics transformation.

It is well known that apart from focusing on exploring the tourism potential in the province, Luapula has enormous reserves of copper ore deposits and several other  mineral deposits yet to be discovered.

Understandably, there is some mining activity being carried out in the province at a small-scale but the need to attract more investments to scale up extraction of minerals and metals such as copper, iron, manganese, gemstones, silver, gold, among others requires the use of highly advanced  machinery.

On this score, the only guaranteed way in which small-scale miners can scale up extraction of available minerals is through joint partnerships with foreign investors with such machinery to increase the
extraction rate.

With the privatisation of the mining sector, potential opportunities for investment are not limited to only the Copperbelt Province which is traditionally renowned for such activity but wherever minerals are
discovered.

It is equally true that Luapula Province has numerous waterfalls which do not only serve as tourist attractions but whose water can be utilised for power generation. Why should the country grapple with load shedding of power when Luapula Province has lots of water bodies?

It a well-known fact that lack of investments into the energy sector, particularly power generation, has largely fixated steady growth in other viable sectors like manufacturing, hence affecting national economic development.

Much as the approval by the Energy Regulation Board (ERB) for ZESCO to effect an upward adjustment in tariffs was received with mixed feelings, it should be appreciated that only cost-reflective tariffs will attract more investment in the energy sector.

It is gratifying that institutions like the Citizens Economic Empowerment Commission (CEEC) has so far disbursed K11.6 million to support various small-scale enterprises such as fish farming, cassava growing, and oil production.

And the initiative by the local investor Tatwakakulabe General Contractors and Civil Engineering to establish the first ever cassava starch processing plant in Mansa not only illustrates existing investment opportunities that locals can venture into but also assures cassava farmers of a ready market for their produce.

It is incumbent upon farmers to embrace the challenge to maximise production of starch which in turn will enable them earn money.

We think it is high time the provincial leadership took the challenge to spearhead marketing strategies that will attract investments into all the provinces of Zambia to
unlock the economic potential.