ZAMBIA Chamber of Commerce and Industry president Chabuka Kawesha says there is need to find a solution to the high cost of capital in order to see a diversified manufacturing sector and increased investment.
In an interview, Kawesha said all players must get involved in order to grow the economy.
“For as long as all of us, this is not just about government, it’s about the market players, it’s about the business community getting fully involved and a lot of aspects within the realm of our economy will begin to improve. I think we have already heard government talk about the need to reduce the cost of capital, that is positive and we applaud them for that and capacity building in terms of getting many youths, innovators to the SME space so that they can grow from there is very positive,” he said.
“But with the private consultations going on, we are very confident that working together – policy private makers, we should find a solution to the high cost of capital and build those strong bridges that can see investments begin to flourish, the manufacturing begin to diversify. We will start seeing real industrialisation coming into place. And it is important that we are all really committed, focused both you in the media space with the power of the pen to speak to innovation; speak to the potential of the country. You are there to let the international community know what Zambia is able to offer and as a private sector we are significantly relying on you to help us in that space.”
And Kawesha said the generation being supported now through free education would bring about development as innovators and entrepreneurs if effectively supported.
“When people talk about reducing the cost of education or free education, it should not just be seen as a standing segment to say yes free education. It is from there that we should now as a country take advantage and get all our youths, our kids to school so that we can obtain that large knowledge base amongst the youth. And from there we are now going to have many innovators and many entrepreneurs coming up. And the next generation that we are educating now if effectively supported will be able to bring out a lot of development,” said Kawesha.