By MAIMBOLWA MULIKELELA –

PRESIDENT Edgar Lungu has said it is ‘shameful’ for some politicians to dismiss the revival of the Kwacha against the United States (US) dollar and the drop in inflation as a political gimmick which will not last.
Recently, the Kwacha appreciated sharply against the dollar touching a low of K9.30.
“It is shameful because no leader seeking prosperity for the masses must always programme their mind to expect negative trends in the economy.
“No one must take pride in national failure as an opportunity to gain political success,” President Lungu said.
He said this at the official opening of the sixth Zambia International Investment Forum at Mulungushi International Conference Centre in Lusaka yesterday.
This was in an apparent reference to United Party for National Development president Hakainde Hichilema who has always been issuing negative statements about the Zambian economy.
Mr Lungu said the Government would consolidate the macro-economic gains achieved recently to ensure stability and growth.
The Head of State assured investors that his administration had confidence in the leadership of the Bank of Zambia (BoZ) for the prudent implementation of the monetary policy.
“The synergy between officials handling fiscal and monetary policies gives me greater confidence that we are on a recovery path.
“How can one explain investors’ increased interest in Government securities? How can one explain the mining industry’s renewed confidence in the sector?” the President asked.
He said he would focus on consolidating these gains to ensure that stability and growth increased.
He emphasised that in order to achieve meaningful and sustained development, there was need to invest in infrastructure.
Mr Lungu said investors should take this opportunity and invest in the roads, rail, hydropower stations, tourism infrastructure and others in Public Private Partnership (PPP) arrangements.
“We have several investment opportunities in the mining, agriculture, energy, tourism, infrastructure, information and communication technology sectors and value-addition in manufacturing,” he said.
Mr Lungu said Parliament recently passed the Business Regulatory Review Bill which had set the stage for greater dialogue between the Government and businesses in the formulation of policy.
“This will make the licensing regime simpler, more transparent and focused on legitimate regulatory purposes,” he said.
The 2016 Zambia International Investment Forum is aimed at showcasing Zambia’s investment opportunities in the various sectors of the economy, and offers an excellent opportunity for networking between local and international players.
Speaking at the same function, Zambia Development Agency (ZDA) director general Patrick Chisanga said the forum had attracted some 350 delegates drawn from the private sector, Government officials as well as both local and foreign investors, including bankers.
Mr Chisanga said ZDA would continue to provide investment incentives in the manufacturing, agriculture, tourism, energy and infrastructure development sectors.
During a welcome cocktail, First National Bank (FNB) head of corporate and investment banking Kapumpe Kaunda said Zambia was a unique investment destination in Africa.
Ms Kaunda said a key prerequisite to investment in any jurisdiction was a conducive investment climate.
“While I can go on and give you a long speech about the long periods of political and macro-economic stability that this country has enjoyed for decades, I prefer to give an example of ourselves as an investor who has confidence in the economic development of this country.
“As FNB, we have been operating in Zambia since April 2009. In seven short years, we are now one of the top five banks, out of 19, in terms of profitability. We are one of the leaders in agri-business financing with over 35 per cent of our total loans and advances to the sector, and we are also a leader in vehicle and asset financing,” she said.