Zambia Economy Ripe For Investment, Says African Union

African-Union

The African Union has credited the Government of Zambia with creating a favorable environment in the Zambia economy for investment opportunities.

According to Ambassador Jean-Baptiste Natama, Chief of Staff of the Bureau for the chairperson of the African Union Commission (AUC), private and public investments are crucial components to supporting socio-economic development in Africa and Zambia offers a great example of a well-managed economy.

“Credible estimates show that Foreign Direct Investments in Africa are expected to rise to USD 150 billion by 2015,” Ambassador Natama said, “For example, in recent years, Zambia witnessed a substantial 93% rise in investments compared to 2011, a feature attributable to a well-managed economy and a peaceful transfer of power.”

Ambassador Natama went on to praise the investment opportunities that exist in Africa, saying that the continent not only offers attractive investment opportunities, but has also been witness to fast growing economies, but additional investment in infrastructure is needed in order to sustain and promote development.

Total net FDI in Zambia reached an estimated USD 0.99billion, in 2012 and subsequently increased to USD 1.14 billion in 2013 with  additional growth expected to bring FDI to USD 1.32 billion in 2014.