Speaking to the Lusaka Times, Vice President of Zambia, Inonge Wina, said that government is working to overcome the economic challenges affecting the country. Mrs Wina said that government has already identified sectors, apart from mining, that require investment to propel economic growth.
Speaking when she held bilateral talks with UK Minister for Africa, James Duddridge, the Vice President called on British investors to consider investing in Zambia’s energy sector.
UK Minister for Africa, James Duddridge, urged UK businesses to take advantage of abundant natural resources and peace in Zambia to invest in the country. Mr Duddridge said the energy deficit that Zambia is facing is of concern to government but should be treated as an opportunity for foreign investors to grow their businesses.
Mrs Wina said that British businesses should take advantage of the current energy deficit in Zambia, to identify opportunities to grow their businesses and contribute to Zambia’s development, adding that, like other southern African countries, Zambia is facing an energy deficit which requires the active involvement of both the private and public sectors to address.
Mr Duddridge says the UK government will work to ensure that the strong bilateral relations between the two countries extend to improving economic ties.
Meanwhile, Energy Minister Dora Siliya has said that government is working towards removing stumbling blocks hampering private sector investments in renewable energy.
Ms Siliya said that the PF administration is ready to support private sector led investments in renewable energy sources in a quest to address the power deficit. The Minister has since challenged the private sector to closely work with technocrats in identifying bottlenecks.
Ms Siliya was speaking in Lusaka, at a Stakeholders Consultative meeting on promotion of renewable energy jointly hosted by her Ministry and a local contracting firm, Tomorrow Investments.
The consultative forum attracted scores of investors and energy experts drawn from various parts of the country.