ALLOW FOREIGN INVESTORS IN GOLD MINING, GOVT TOLD

By SILUMESI MALUMO
THE Private Sector Development (PSD) has called for foreign investment in gold mining for the sector to see meaningful growth.
PSD chairperson Yusuf Dodia said it was important that foreign investment was accepted in the sub sector so that the country can start earning much needed revenue.
Mr Dodia said restricting only local investment or coming up with local initiatives would not help grow the sub sector.
He said in an interview that foreign investment was key in developing the gold mining sector so that the country start getting the desired revenue.
Mr Dodia said foreign investors would be able to inject huge investment in the sub sector and this would lead to its growth.
He indicated that the sector was lucrative, therefore, there was need to bring in investment that would bring significant change.
“All that is need for this sector to grow like we want it to be is to ensure that we encourage foreign investment. Many foreign investors if they come in to start mining gold they will come with huge investment which will be an advantage for the country.
“This sector is very lucrative and we need to do more to ensure that as a country we start earning meaningful revenue which will help us to improve our economy,” Mr Dodia said.