In a bid to revitalize Zambia’s copper industry and foster sustainable development, President Hakainde Hichilema has underscored the importance of environmentally friendly practices and fair capital inflows.
Speaking at the EU-Zambia Business Forum held in Kitwe, President Hichilema highlighted Zambia’s potential as an attractive investment destination, emphasizing the need for partnerships that offer affordable capital and advanced technology.
The theme of the forum, “Growing the Copper Industry in Zambia through Green Value Chain,” aligns with President Hichilema’s vision to expand the country’s copper sector while prioritizing environmental sustainability. Reflecting on Zambia’s address to the European Union Parliament in 2022, where the nation was positioned as a promising business hub, President Hichilema reiterated Zambia’s commitment to fostering mutually beneficial partnerships with the EU.
President Hichilema expressed optimism about the potential of EU-Zambia collaborations to drive the beneficiation of Zambia’s abundant mineral resources. He emphasized the importance of inclusive development, advocating for indigenous Zambians to not only be employees but also shareholders in the mining sector. This commitment echoes promises made by the United Party for National Development (UPND) while in opposition, signaling a transformative shift in Zambia’s mining landscape.
Furthermore, President Hichilema urged the European Union to explore the broader spectrum of opportunities available in Zambia, emphasizing the country’s stable democracy and conducive investment environment. Addressing historical challenges of prohibitively expensive capital inflows, President Hichilema stressed the necessity of fair pricing to catalyze Zambia’s economic growth and development.
As Zambia strives to harness its natural resources for sustainable development, President Hichilema’s advocacy for green growth and equitable partnerships marks a significant step towards realizing the nation’s economic potential while ensuring environmental stewardship and social inclusivity.
