Grow Zambia can unlock billions dollars investments - Haabazoka

…says President Hichilema’s Grow Zambia ambition should be a benchmark around which the private sector can organise investment and expand production, across agriculture, mining, energy and manufacturing By MUBITA KATETE ECONOMIST Lubinda Haabazoka says the ambitious production targets under the Grow Zambia agenda could unlock billions of dollars in investment and create new opportunities for businesses across agriculture, mining, energy and manufacturing. Professor Haabazoka says the targets should not be viewed as figures for Government alone, but as benchmarks around which the private sector can organise investment and expand production. Speaking on the ZNBC Sunday Interview Programme, Prof Haabazoka said Grow Zambia was different from previous national development plans because it sets specific production targets for key sectors of the economy. The targets include 10,000 megawatts of electricity, 10 million tonnes of maize, five million tourists, three million tonnes of copper, three million tonnes of soya beans, one million tonnes each of sugar and wheat, and one billion United States dollars in beef exports. “The targets should not be viewed as figures for Government alone, but as benchmarks around which the public and private sectors can organise investments,” Professor Haabazoka said. He said achieving the 10-million-tonne maize target would generate opportunities beyond farming by increasing demand for fertiliser, agricultural equipment, irrigation, storage, transport and packaging. Professor Haabazoka said increased agricultural output could also support value addition, with surplus maize processed into products such as starch and animal feed. He said the same value-chain approach should be applied to other Grow Zambia targets to ensure increased production translates into broader economic activity and job creation. Professor Haabazoka said Zambia should also take advantage of growing demand for food and other products in neighbouring countries, particularly the Democratic Republic of Congo, Malawi and Mozambique. He said improved rail infrastructure and the use of Mpulungu Port would be critical in making regional exports more competitive and converting neighbouring markets into viable opportunities for Zambian producers. On copper, Professor Haabazoka said achieving the three-million-tonne production target could significantly strengthen Zambia’s foreign exchange position while creating opportunities for companies supplying the mining industry. He estimated that the target could potentially add about US$15 billion to Zambia’s reserves over five years. “The Government’s target of three million tonnes of copper production could significantly increase Zambia’s foreign exchange reserves, while creating jobs and business opportunities for companies supplying the mining sector,” he said. Professor Haabazoka said small-scale miners could also make a significant contribution to copper production if they were supported with exploration and appropriate equipment. He estimated that small-scale miners could potentially contribute as much as two million tonnes of copper. However, he said increased copper production would depend heavily on Zambia’s ability to expand its energy capacity. Professor Haabazoka said the 10,000-megawatt electricity target was therefore critical not only to mining, but also to agriculture, manufacturing and value addition. He said Zambia could also utilise regional power trading as it works towards increasing domestic electricity generation. Professor Haabazoka said the immediate challenge was to ensure the Grow Zambia targets moved from ambitious figures to concrete investments and production. “The challenge now is to ensure the targets translate into action rather than remain figures on paper,”he said. He called on Government ministries and the private sector to align their plans and identify specific contributions required from each sector to achieve the targets.

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