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Sunday, February 9, 2025
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Economy Will be Stronger than Ever Before – Musokotwane

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The Zambian economy will be stronger than it has ever been since independence, Finance and National Planning Minister Situmbeko Musokotwane has declared.

Speaking at the signing of the concession agreement between the government and ZMart Group for constructing border infrastructure at Kasumbalesa and other associated developments, Musokotwane bragged that Zambia’s economy was headed for a boom, driven by mining.

“So don’t get misled. For those of you with money to invest, this is the time to invest because there’s a boom riding on mining, which is coming to this country,” he advised.

He said already this year, Zambia had become a net exporter of fertilizer to Tanzania, Zimbabwe, Malawi, and Botswana. “From being importers, we are exporting.”

Commerce, Trade and Industry Minister Chipoka Mulenga, who also witnessed the signing, explained that it (Kasumbalesa) was not the only border the government had given to the hands of the Zambian public to develop.

“We have also given one in Kambimba in North-Western Province neighboring the Democratic Republic of Congo. These are borders that are very critical, that are key to the development of our environment in this country,” Mulenga said.

The US$110 million concession agreement will involve the construction of a 2,000-capacity truck parking lot, a fire station, a multi-facility economic zone, a shopping mall with 300 shops, and a hotel.

In addition, the concessionaire—Ndola-based ZMart Group of Companies—will construct 20 kilometers of township roads in Chingola and Chililabombwe. ZMart has promised to deliver the project within two years.

Kasumbalesa is Zambia’s busiest border crossing and a critical trade route for South and East Africa.

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