By MAIMBOLWA MULIKELELA –

•AFRICAN Development Bank president, Akinwumi Adesina (right) with Bank of Zambia Governor, Denny Kalyalya (centre) during the tour of Mulungushi International Conference Centre in Lusaka yesterday.

THE African Development Bank (AfDB) has hailed Zambia for its continued efforts to diversify the economy by weaning it from complete dependence on copper.
AfDB president Akinwumi Adesina said the current economic challenges being faced in the country present an opportunity for Zambia to diversify into other key areas such as the Agriculture sector.
Dr Adesina said this when he toured Mulungushi Conference Centre in Lusaka yesterday, which is the venue of the AfDB  annual meeting, that Agriculture was one of the key areas that could grow the economy of the country.
He  said he held a meeting with President Edgar Lungu where they discussed the opportunities in the Agriculture and Energy sectors.
“I was delighted to speak with President Lungu this morning (yesterday), the opportunity is to diversify the economy and we discussed a number of areas such as Agriculture and today if you look at the price of cashew nut globally it has actually doubled the price of copper.
“Agriculture can help create job opportunities and contribute to lowering the inflation rate, President Lungu and I are fully alive to what needs to be done in terms of the diversification of the Zambian economy,” he said.
Dr Adesina said Zambia was critical to the Common Market for Eastern and Southern Africa (COMESA) and Southern African Development Community (SADC) region hence the need to support the regional integration strategy.
He said the bank would continue to invest significantly in regional infrastructure such as railway, ports and interconnectivity because it was key to Zambia’s regional integration strategy.
Dr Adesina observed that the Zambian economy currently  has some challenges  but has been doing well for some time growing at almost about nine per cent.
He said there were challenges with regard to fiscal imbalance and depreciation of the Kwacha but what was clear was that the Government was working hard to consolidate its fiscal position and stabilise the economy.
With regard to hosting of the annual  general meeting, Dr Adesina said President Lungu was excited about the 26th AfDB annual general meeting to be held in Lusaka from May 23 -27, this year.
Dr Adesina said the level of political support was huge and the level of commitment, dedication and coordination equally high.
He said the Bank of Zambia Governor,  various permanent secretaries including  inter- ministerial committees  where addressing all  preparations and  security concerns.