Finance Minister Felix Mutati says Zambia has become a preferred investment destination in Africa because of good governance and consistent economic policies.
In a statement issued to News Diggers! by First Secretary for Press and Public Relations at the Zambian High Commission to South Africa Naomi Nyawali, Mutati also urged African governments to prioritize infrastructure development.
He said this at the Infrastructure Africa Business Forum held at the convention Centre in Sandton, South Africa.
“Economic trajectory for Zambia is positive and growing stronger as the country is enjoying entrenched democracy and political stability. Zambia’s micro economic fundamentals are going in the right direction as inflation is low and exchange rate stable. So our good governance and policy consistent has been the hall mark of Zambia’s economic gains so far,” Mutati said.
He stressed the need for innovative finance and better use of existing infrastructure as key to handling infrastructure deficit that Africa was grappling with.
“There is need for innovative financial and better use of the existing infrastructure as key to handling infrastructure deficit that Africa is grappling with. Let me also appeal to the private sector to partner with governments to introduce new technologies that will help in bridging the infrastructure gap,” said Mutati.
Mutati further observed that Africa’s competitiveness was being eroded as freight costs were as high as 200 percent in most countries.
The Minister also thanked the South African investors for investing over one billion dollars in various sectors of the Zambian economy in 2017.