- The strategy provides a framework for the development of e-commerce in Zambia from 2020 to 2024, says Commerce, Trade and Industry Minister, Christopher Yaluma.
By BUUMBA CHIMBULU
GOVERNMENT is developing a five year e-commerce strategy to keep abreast with recent trends of conducting business in the region.
The strategy provides a framework for the development of e-commerce in Zambia from 2020 to 2024, says Commerce, Trade and Industry Minister, Christopher Yaluma.
Mr Yaluma stressed that e-commerce played a critical role in the economy as it facilitated for the creation of new channels for trade and jobs.
He said this also facilitated efficiency in trade by lowering transaction costs and reducing time.
The minister said this yesterday during the 2020 Virtual Import Export Conference and Exhibition (IMPEX).
“E-commerce in Africa was valued at US$16.5 billion in 2017 and this value could cross the US$75 billion in mark in 2025,” Mr Yaluma said.
Mr Yaluma observed that Africa was in the process of integrating into a continental free trade area.
He said Government therefore wanted to make Zambia transformed into a hub for trade within the region.
“There is enormous untapped potential through regional integration in Africa to accelerate economic growth.
“As a Government, we are here to support such initiatives that seek to show case Zambia’s opportunities ahead of the continental free trade area,” Mr Yaluma said.
Zambia Development Agency (ZDA) Board chairperson, David Masupa, said Zambia currently had a more conducive trade platform with the hallmark resolutions made during the G20 virtual conference.
Bishop Masupa said the G20 were committed to working together to overcome the Covid-19, restore growth, jobs and resilient future for the entire globe.
He said the 2020 IMPEX had attracted participants from the entire region with a sole purpose of strategising how Africa could enhance cross-border trade.
“As a united Africa, we can boost trade among our countries and make our continent prosper,” Bishop Masupa said.