Maravi

Dr Fundanga urges financiers to assist Zambian Airways

Dr Fundanga urges financiers to assist Zambian Airways
By Joan Chirwa
Wednesday June 11, 2008 [04:00]

BANK of Zambia (BoZ) Governor Dr Caleb Fundanga has urged local and international financing institutions to assist Zambian Airways in its growth path. And Dr Fundanga said Zambia was facing a huge challenge in the development of infrastructure to link her with neighbouring countries owing to financing challenges.

Making a presentation themed "Narrowing Zambia's Investment Gap for Sustainable Development" during the Euromoney Zambia Investment Conference in Lusaka yesterday, Dr Fundanga said Zambian Airways was the country's only national airline, which needed support for it to enhance its operations.

"We need to help them Zambian Airways grow," Dr Fundanga said. "Zambian Airways is coming up and it is the only national airline Zambia can talk about."

And Dr Fundanga said Zambia, as a landlocked country, had failed to exploit trade opportunities within the region as a result of inadequate infrastructure.

"Zambia is a landlocked country but still, the country has not been able to exploit all the opportunities in trade with its neighbours because of financing challenges for infrastructure development," Dr Fundanga said. "There is an upsurge in economic activities in Zambia and neighbouring countries and if we had a motorway which could connect the southern part of the country to Copperbelt and then to countries such as Angola and DRC, so that we can open up the country to efficient business."

Dr Fundanga further said an enormous investment needed to be made in electric train facilities for enhanced trade links between Zambia and Tanzania.

"I suggest that we invest heavily in an electric train from the Copperbelt to Dar-es-Salaam," Dr Fundanga said. "This facility will be much faster and we will open ourselves to fast regional trade. Zambia is a very peaceful country and conducive for investments. If people invest here, their investments will not be in vain because we have never had anyone killing the other like has been the case in other countries."

Dr Fundanga further indicated that Zambia needed an annual growth rate of around 12 per cent in order to reduce poverty levels in the country.

"We need higher growth rate of between eight and 12 per cent. This is what will help Zambia get out of poverty," said Dr Fundanga. "We need to work together with everyone from all over the world so that we can achieve our economic targets."

Labels: CALEB FUNDANGA, ZAMBIAN AIRWAYS

posted by MrK @ 5:29 AM