ZAMBIA is ready to unlock the potential of its thriving economic sector, says Absa Bank Zambia Managing Director, Mizinga Melu.
Ms Melu attributed this to several economic reforms implemented by Government, including reforms in taxation, investment promotion, and the ease of doing business which is aimed at improving the business environment and promoting investment.
Ms Melu said this when she featured on an Economic Outlook Business Forum organised by the United States of America Chamber of Commerce to discuss Zambia’s readiness for foreign investment.
She stated that the concluded $6.3 billion debt restructuring deal with the country’s bilateral partners and creditors, will assist in stabilising the economy.
Ms Melu emphasised the importance of negotiating with Eurobond creditors as the next step, as well as investing in productive capacity such as manufacturing and Small and Medium Enterprises.
“As the country continues its path towards becoming an emerging economy, collaboration between the government, private sector, and international partners will be critical to ensuring sustainable and inclusive growth,” she said.
Ms Melu said Absa Bank Zambia is committed to supporting the government in its efforts to attract investment.
She disclosed that the bank is already working closely with Government and other stakeholders, such as the Zambia Development Agency, to identify investment opportunities and facilitate transaction financing.
Ms Melu cited the various key sectors where the bank is financing economic growth, including agriculture, mining, energy, infrastructure and tourism.
She also commended Government’s efforts to improve the business climate and attract foreign investment.
And speaking at the same event, United States Vice President for the Chamber of Commerce Kendra Gather, commended Zambia for the positive economic development and committed to bringing US companies into Zambia.
Meanwhile, Zambia’s Ambassador to the United States, Chibamba Kanyama also commended the government on concluding the debt restructuring deal.
This was contained in a statement issued by Absa’s Marketing and Communications Manager, Ndela Sichizya. – ZANIS.
This article is supported with the WAN IFRA Women In News (WIN) Social Impact Reporting Initiative (SIRI). Gender equality, diversity and inclusion ( GEDI) Information in this article does not reflect the views of WAN IFRA Women In News.