Maravi

Levy urges donors to invest in Zambia

Levy urges donors to invest in Zambia
By Brighton Phiri
Sunday June 10, 2007 [04:00]

PRESIDENT Mwanawasa yesterday asked the donor community to consider investing in Zambia instead of giving loans. Speaking at Lusaka International Airport on arrival from Britain where he had gone to attend the African Business Forum, President Mwanawasa disclosed that he held discussions with European businessmen and potential investors, to whom he had indicated that he was more interested in seeing foreign investors coming into the country than receiving loans.

“I mentioned to the donor community that we don’t want loans. We want them to come to Zambia and invest in our resources and development so that our people could be given abundantly the services they need,” President Mwanawasa said.

President Mwanawasa further disclosed that he emphasised the need for the donors who attended the business forum to invest in Zambia instead of giving handouts. He urged the foreign investors to invest in the country’s abundant natural resources.

President Mwanawasa said he also witnessed the signing ceremony of the partnership agreement between the British and Zambian governments, that would last for 10 years under which the British government would give Zambia 40 million pounds per annum.

“They were indeed successful meetings with businessmen and potential investors,” President Mwanawasa said. President Mwanawasa also held talks with former British minister of overseas development Baroness Lynda.

Labels: FDI, MWANAWASA

posted by MrK @ 3:37 AM