By Masauso Mkwayaya
President Hakainde Hichilema says the manufacturing sector’s 9-percent contribution to the country’s GDP growth – the highest since 1990 – has been made possible through government’s economic recovery programme.
President Hichilema says the sector has created over 68,000 jobs across more than 500 industries.
In a speech read on his behalf by Commerce, Trade and Industry Minister Chipoka Mulenga at the African Continental Free Trade Area – AfCFTA – Trade Facilitation Conference in Lusaka, President Hichilema said the positive trend is partly due to improving ecoomic fundamentals, with inflation slowing down and the Kwacha appreciating against major currencies.
He said this has enabled the manufacturing sector to reduce production costs, urging industry players to pass the benefits on to consumers.
The President further said since 2021, Zambia has secured investments worth 12.2 billion U.S. dollars out of investment pledges exceeding 86 billion U.S. dollars.
At the same event, Ministry of Commerce, Trade and Industry Acting Permanent Secretary Angelina Mukuka said the discussions at the Conference will strengthen public-private partnerships to spur production and job creation.
And Zambia Association of Manufacturers – ZAM – President Ashu Sagar said Zambia’s land-linked position will drive economic growth under the AfCFTA.
Mr. SAGAR noted that Government policies and macroeconomic stability are already producing results.
Meanwhile, Germany Embassy Head of Development Cooperation Andreas Pletziger said the AfCFTA presents a unique opportunity for Zambia to become a manufacturing hub.
At the same event, Wonderful Group of Companies Board Chairperson Gilbert Temba commended Government’s efforts to improve logistics, harmonise standards, and streamline border protocols.
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