Vice President Mutale Nalumango has reaffirmed that Zambia’s economic outlook is on a positive trajectory, driven by robust reforms by government and support by international partners such as the International Monetary Fund (IMF).
Mrs. Nalumango explained that Zambia’s economy is projected to grow to about 5 percent anchored on increased investment in both greenfield and brownfield mining projects as well as diversified opportunities in energy, manufacturing and agriculture.
In a joint statement issued to RCV News by Zambia’s High Commission in Tokyo, Japan, First Secretary for Press and Public Relations Faith Chilube and Vice President Press Aide Njenje Chizu, Mrs Nalumango expressed appreciation for Toyota’s long-standing relationship with Zambia and welcomed the company’s intention to diversify investments into renewable energy and healthcare.
She emphasized that Zambia’s recent Memorandum of Understanding (MoU) with Toyota Tsusho, ZESCO and the Ministry of Energy was timely, particularly as the country seeks to reduce its energy deficit and mitigate the impact of climate change on hydropower generation.
Mrs. Nalumango made the remarks during a bilateral meeting with Toyota Tsusho Corporation held on the sidelines of the 9th Tokyo International Conference on African Development (TICAD-9) in Yokohama.
The Vice President further highlighted Zambia’s strategic position as a land-linked hub in Southern and Eastern Africa, urging Toyota Tsusho to take advantage of the wider regional markets provided by COMESA, SADC and the East African Community (EAC).
-RCV