By NATION REPORTER
PRESIDENT Hakainde Hichilema has urged foreign investors to collaborate with local partners and investors in Zambia, emphasizing that such collaborations are a key avenue for sustainable economic development and business growth.
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Clayson Hamasaka, the State House Chief Communications Specialist said in a statement yesterday that President Hichilema, alongside several other Heads of State and dignitaries, addressed the high-level gathering of the German business community at the ongoing G20 Compact with Africa conference in Berlin this morning.
Mr Hamasaka said: “Highlighting investment opportunities across various sectors of the Zambian economy, the Head of State underscored the importance of joint ventures between foreign and local investors as a reliable model for sustainable economic development that benefits all parties.”
He said President Hichilema encouraged the European business community to explore Africa’s abundant natural resources.
Mr Hamasaka said the head of State however, stressed the significance of processing and value addition within African countries to generate local jobs and foster the expansion of local economies.
“President Hakainde reiterated the necessity for reasonably priced capital for African countries, countering the current scenario where the financial risk profiles for African countries were excessively high, leading to elevated costs,” Mr Hamasaka said.
And Mr Hamasaka said in a significant commitment, the German government has pledged over 4 billion Euros in investment in African countries by 2030. The investment spans sectors such as energy, infrastructure, mining, agriculture, and tourism.
He said Chancellor Olaf Scholz assured the gathering that these financial commitments were not loans but direct investments, fostering a mutually beneficial relationship between the economies.
“Mr. Scholz emphasized the potential for Africa’s young population to acquire skills that contribute to global economic development,” he said.
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