By Amb. Emmanuel Mwamba
UBUFI
ZDA’s end-of-year joke
Last year, ZDA says they recorded committed investment of $37billion.
We couldn’t even trace a single manufacturing plant being set up!
This year they say it’s $40billion!
So according to ZDA, Zambia has received $77billion investment in two years?
Imagine if this was true, what this could do our foreign exchange market.
If ZDA was to be believed, I guess the country doesn’t need the IMF and World Bank and is no longer a poor country.
Sadly they make the President announce such ridiculous numbers and he becomes an object of open ridicule!
Below is their Report
ZDA Records US$40 Billion Committed Investments and 160,280 Jobs in 2023
“As a result of the president’s intervention, many of the committed investments from Europe, China, and United Kingdom, United States of America, Middle East and the rest of the world are being implemented and are at various stages of actualisation,” he explained.
The Zambia Development Agency (ZDA) has recorded US$39.95 billion worth of committed investments and 160,280 committed jobs from 379 investment projects in 2023.
Speaking at the end of year Media Briefing in Lusaka, ZDA Board Chairperson Professor Biemba Maliti said the good leadership of the President of the Republic of Zambia Hakainde Hichilema continues to inspire investor confidence.
Professor Maliti said the President has opened many strategic doors, making it easier to attract and promote investment.
He noted that the President has strategically engaged with world leaders and top investors globally to unlock the much needed capital to transform Zambia’s various endowments into jobs and wealth for the good of Zambia.
“As a result of the president’s intervention, many of the committed investments from Europe, China, and United Kingdom, United States of America, Middle East and the rest of the world are being implemented and are at various stages of actualisation,” he explained.
Professor Maliti said the key drivers to the huge investment projects include the stable macroeconomic fundamentals, business reforms by government such as the Public Private Dialogue Forum and Presidential Delivery Unit and improved funding to the ZDA among others.
The board chairperson added that the Agency further facilitated market access for 283 exporters to potential buyers in Congo DR, Botswana, Mozambique, South Africa and Angola among others, 347 exporters were trained in export readiness and 700 were facilitated to access trade information.
In 2024, Professor Maliti said the Agency is looking forward to hosting a flagship investment forum dubbed Make in Zambia Investment Conference, facilitate development of Special Economic Zones, the virtual deal room and electric vehicle batteries and battery accessories value chain among others.
In terms of trade and business development, the Agency will focus increasing the number of Trade Missions into the Democratic Republic of Congo (DRC, create beef and crop zones for and Market linkages and facilitation of partnerships and joint ventures.
Is it that Mr. Mwamba does not understand English or he is playing politics as usual? The statements from ZDA is plain and simple for anyone to understand so I fail to get it how he failed to comprehend it. The statements say ZDA has received commitments or pledges NOT receipt of actual funds or tangibles and ZDA has indicated that they wait actualization of the said commitments. Why does this man always want to give the worst piece of everything happening in the country and seem to enjoy failure of the government? Does he know that failure of this government or any other government is nothing to celebrate about if you are Zambian because it affects all of us some way? When will he learn that if the current government fails it means the one that takes over will find many challenges to overcome but if they succeed it means the one to take over government will find less challenges? I think he is still stuck with the belief that his party can only rise on other people’s failure which is not the modem way of thinking.
Besides, even if the said investment where actually received, it would still take time for benefits to start showing. It’s a fact that any meaningful investment with long term benefits like manufacturing, mining and others, it takes time for benefits to start showing. For instance, for a greenfield mining investment, gestation period is even longer. Just to give an idea of what is involved, there’s exploration, mapping, construction, mobilization before production starts this can take up to 7 to 10 years.
Even straight forward ventures like farming a normal person cannot expect a harvest a day after planting unless they are not normal. Only people who don’t understand business or how things work would expect instant results.
We expect a reasonable presentation from ZDA and not hot air. The propaganda chief at Zambia Daily Mail also seems as if he or she was baked from the Nazi German Propaganda cookery. May the Zambia Daily Mail tone down on its screaming headlines. They are irritating the hungry citizen and unemployed youth out there. They are not adding any value to the country or to the Praise addict they are trying to please.
Pledges are just pledges. They have always been made from time immemorial. We expect the ZDA to give us the pledges, the actuals, the variances and the reasons for variances. This will even help policy makers to do appraisals as to whether the drive for FDIs is bearing any fruits.
We are not Children who get excited after being promised sweets by a broke garden boy. We are a serious country , and we expect to be treated as such.
Dont feed us with useless crap..Be serious.
Does this guy understand what investment is.Even in fiancial markets it takes time to see the benefits.Maybe his reference point is PF economics where they borrowed money from China & it ended up in their/girlfriends houses not knowing one day the loans need to be paid back.
Useless man waste of space.I can’t believe what comes out of this corrupt guy.God help Zambia