UK To Increase Investment in Zambia
The UK’s Minister of State for the Foreign Office and Commonwealth Harriet Baldwin has said that her government will increase its investment in Zambia’s energy sector through a range if renewable energy projects targeted at improving access to electricity.
The Minister stated that; “Zambia makes sence in renewable energy generation, which is why we are keen to make sure the country benefits in some of our planned investments,” said Ms. Baldwin, she also added that, “the private sector in the United Kingdom is keen to invest in Zambia because they have seen tremendous opportunities here.”
Minister Baldwin made the pronouncement when she paid a courtesy call on Minister of Finance Margaret Mwanakatwe at the latter’s office in Lusaka yesterday.
Ms. Baldwin also announced that in recognition of Zambia’s importance as a trade and investment destination, the United Kingdom Government will send a trade envoy and appoint a trade advisor at the British High Commission in Lusaka.
Speaking at the same event, Mrs. Mwanakatwe said through enactment of the Public Financial Management Act, the Zambian Government has implemented measures to foster fiscal discipline and will stand firm on the recently announced austerity measures.
“The measures which we have implemented will also facilitate improved resource disbursements to social-sector programmes,” she said.