Politics

Zambia’s Hichilema wants respect for foreign investors

Published

11 months ago

January 11, 2024

Zambian President, Hakainde Hichilema, has called for respect for foreign investors by locals, stressing their crucial role in bringing investment, creating jobs, and fostering economic growth.

Speaking at the US$80 million upgraded plant’s commissioning ceremony at Zambian Breweries in Lusaka, President Hichilema made the call and reaffirmed his government’s commitment to luring more investment for economic growth and job creation.

The president criticised certain politicians for unfairly labelling investors as imperialists, stating that those derogatory terms undercut the cooperative efforts necessary to expand the economy.

President Hichilema expressed gratitude to Zambian Breweries for their out-grower programme, which has helped thousands of cassava farmers in the province of Luapula. He praised the company’s extension services and mentioned how they helped small-scale farmers become more capable.

The president emphasised that prudent policies that promote investment were closely linked to economic growth. He noted the significance of such investments for small and medium-sized businesses in terms of opening doors and creating jobs.

Michelle Kilpin, the country director of Zambian Breweries PLC, who was present at the occasion, pledged the company’s continued investment and support of economic expansion.

One of the numerous benefits of FDI is its contribution to the funding of economic investment projects since it is a non-debt source of development finance. It raises the host nation’s level of technological advancement, which can have a significant impact on the process of economic development.

Zambia’s main source of FDI is China. Zambia received approximately 191.5 million US dollars in FDI per year from China as of 2022. The amount of Chinese FDI that left Zambia at its peak in 2021 was approximately 582.8 million USD. According to Statista, “Chinese outward FDI flows to Zambia peaked at around 582.8 million U.S. dollars in 2021.”

Related Topics:Featured President Hakainde Hichilema Zambia

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Politics

Mali’s junta names spokesman Abdoulaye Maiga new Prime Minister

Published

3 hours ago

November 22, 2024

Ifeoluwa Dada

A day after dismissing Choguel Maiga for criticising the government, Mali’s governing junta named its spokesperson, Abdoulaye Maiga, as Prime Minister on Thursday, according to state broadcaster, ORTM.

A source close to Choguel Maiga told Reuters that the ruling generals were incensed by Maiga’s remarks over the weekend denouncing the junta’s inability to hold elections within the 24-month timeframe given for the return to democracy.

After promising to hold elections in February, the military authorities, who took control in two separate coups in 2020 and 2021, have put off the poll indefinitely, citing technological difficulties.

Choguel Maiga’s firing coincides with indications of growing discontent and disarray among Mali politicians, even those who first supported the coup and collaborated with the junta.

As the wait for elections continues, Choguel Maiga, a civilian prime minister who was installed by the military junta in 2021, is the most recent to lose support.

He was cited on Saturday as claiming he learnt of the junta’s decision via the media and that there had been no discussion regarding the delay of the elections inside the cabinet.

“It’s all happening in total secrecy, without the prime minister’s knowledge,” Choguel Maiga told reporters.

Before then, he had frequently stood up for Mali’s junta against criticism from foreign friends and neighbours in West Africa who denounced its repeated election delays and military collaboration with Russian mercenaries.

As government spokesperson, Abdoulaye Maiga, the new prime minister, has also made strong public remarks against France, the previous colonial master. One such speech was demanding French President Emmanuel Macron to stop his “neocolonial” and “condescending” behaviour.

Abdoulaye Maiga and Assimi Goita, the leaders of the junta, announced they had kept all of the important cabinet ministers in their portfolios in the new administration in a statement that was broadcast on state television ORTM.

The announcement said that Abdoulaye Maiga will remain minister of territory administration.

Politics

Congo opposition mobilizes protests against constitution review

Published

1 day ago

November 21, 2024

Ifeoluwa Dada

In response to President Felix Tshisekedi’s intentions to amend the constitution, opposition lawmakers in the Democratic Republic of the Congo have called for national protests on Wednesday.

Tshisekedi, who was sworn in for his second and last term in January, said that a panel would be formed in October to recommend possible constitutional amendments.

According to critics, it may be a ploy to lift term restrictions and give him another chance to run.

Tshisekedi said the current constitution, ratified by a referendum in 2005, needed to change because it did not align with the country’s current realities.

Opposition politicians, including former president Joseph Kabila and past presidential candidates Martin Fayulu and Moise Katumbi, issued a unified statement on Wednesday urging rallies to “block” Tshisekedi.

A request for a response from the Congo’s presidency was not answered.

Patrick Muyaya, the minister of communications, stated on Monday that discussions surrounding the constitutional revision should be de-politicized and that no one should doubt the president’s intentions.

“We’re at the beginning of our mandate… The President of the Republic still has four years to go, and we must avoid attributing intentions to him,” Muyaya told reporters.