TOURISM Council of Zambia (TCZ) chairperson Mark O’Donnell has said Zambia is currently experiencing economic boom because of the Government’s good economic management.
And the Private Sector Development Association (PSDA) has said that Zambia’s attainment of the status as one of the world’s Top 10 business reformers in the last one year is an indication the country is attractive to foreign investment.
Mr O’Donnell said in Lusaka yesterday that Government’s Private Sector Development Programme (PSDP) was now paying off.
“We know that this is an on-going reform programme and we are beginning to see results of the PSDP programme,” he said.
He said the reform programme would help boost the economy, as the private sector will easily do business in the country.
He said because of the reform programme employment opportunities would be created for Zambians hence developing the country’s economy.
“This is fantastic news, for the tourism sector, it is yet to benefit from the reforms. Otherwise economic management is extremely good and that is why we are seeing the boom in the economy,” he said.
On the central bank’s announcement that Zambia’s gross international reserves are expected to rise by the end of this year after accumulating about US$300 million from June to December, Mr O’Donnell said this would help the country become a credible trading partner.
“This is essential because it will help the country to become a credible trading partner,” he said.
On Monday, Bank of Zambia governor Caleb Fundanga announced that Zambia’s gross international reserves are expected to rise to about 4.3 months of import cover by the end of the year after accumulating about US$300 million from June to September.
Mr O’Donnell however, said Zambia still needed to do more to create more wealth for the ordinary citizens.
PSDA chairperson Yusuf Dodia said the reform programme was good for the country as this was an indication the country is attracting foreign investment.
“We recognise the ratings are from external and good for foreign investment but what are we doing domestically to encourage local investors in the economy?” he asked.
He said there is need for the Government to come up with deliberate measures to ensure that local investors also participate in the economy.
Zambia has attained the status of one of the world’s Top 10 business reformers in the last one year.
[Times of Zambia]
INDEED THE ECONOMY IS DOING WELL ONLY A DUMB AND DEAF WILL DENY THIS. TRAVEL IN THE COUNTRYSIDE ITS STACKS AND STACKS OF MAIZE. ANY DISTRICT YOU VISIT ITS NEW SCHOOLS, TEACHERS HOUSES AND HOSPITALS. NEW TAR ROADS ARE ALL OVER. THE KWACHA IS STABLE, MEALIE MEAL PRICE CONTINUES TO GO DOWN. JOB CREATION IS ON THE UPSWING. THIS IS MASSIVE DEVELOPMENT WITHIN A SHORT PERIOD. ONLY A WIZARD WILL NOT APPRECIATE. SATA AND HH WOULDNT HAVE DONE BETTER
Nabazungu bapokelela Ma brown envelope cha Shupa mu zed mwe hahahahaha.
#2 mwanawakwitu
I bet you are not in touch with reality pa zed.You must be one of the 90 day dreamers.
#2 stop day dreaming. If you are corrupt do not think everyone is corrupt. Rupiah had done it. Abash Sata
#2 youare a racist your language stinks. Mark O donnell has contributed so much to the welbeing of this nation. He is a true patriot who is helping zambian economy grow. look at what you have done for the country ba mwanafimofimo guess you cant even employ a kaboyi or garden boy to support our brothers abd sisters out their in shanties.
Certainly PF does not want to hear such,its bad news for them.Iam just happy is the overall economic performance of Zambia and with time it will be felt by everyone.
Think big when you say economic boom. testable hypotheses are needed to come to such conclusions or else it becomes a song on the lips of day dreamers. when was tuta road refurbished ever since Cojifar tarred it? okay lets say new schools are being built, hehehe during bye elections? hmmmmm, zedians, lets call a spade a spade. MANDA HILL is not zambia and until some one who stays in kalingalinga just opposite the famous super secondary school-unza starts buying affordable meals 3 times per day then you start saying atleast natwesha. mind you this cycle has been going on for the last 19 years where developmental statements are made just prior to elections. boys and girls, may you have what we call photographic memory not ubupuba ndemona muli alejandro
We should analyse the economic boom statement in the context of foreign investment. Indeed, foreign companies are making money out of our country! And indeed Mark O Donnel is benefitting hence these statements. There is no economic boom pa ZED. Yusuf Dodia has clearly stated this “…reform programme was good for the country as this was an indication the country is attracting foreign investment…We recognise the ratings are from external and good for foreign investment but what are we doing domestically to encourage local investors in the economy?”
Bushe mwebena ZAMBIA are you so daft that just by a misleading headline, you all fall for such crap. PLEASE read the entire article before making any sensible or informed comments. We are still talking of future aspects meaning on the ground nothing has changed since 1989. you heard me well well, since 1989.
#8 Tell the dull chaps in the names such as alejandro or sharp shooter. Abaice tababelenga nokubelenga and just jump to making kadoli statements to please their pus filled bongo bongoz
O Donnell is a Muzungu only them are making US dollars in Zed so its a real boom, a US dollar boom for him and his Chinese
#8 CHE GUEVARA
Quote:”And the Private Sector Development Association (PSDA) has said that Zambia’s attainment of the status as one of the world’s Top 10 business reformers in the last one year is an indication the country is attractive to foreign investment.”
This is not rocket science mudala but fact that Zambia has improved its place in the eyes of the world in the last one year.
Dodia did make a good observation but that does not negate but rather complement the positive effects of FDI .Its a challenge to you and me but as usual,we are waiting for Govt to do it(socialist mentality has killed us.)
# 1 ALEJANDRO. You must be honest with yourself even if you are cadre trying to impress your bosses. When did you last travel to the ‘countryside’? You are such a hipocrite with no shame. We dont need those sugar coated statements from sources trying to impress MMD for future business deals, we see what is happening in Zambia everyday. If you are a Zambian, How far is a decent school from your home village? And how many Teachers do they have? Is there decent accommodation at that school? I bet you dont even know your village is.
@ CHE GUAVARA
Stop whining and see what you can do pa zed.The money you are earning in Japan is FDI if invested in zambia.Problem ama Blacks you just complain, Caucasians are seeing money allover zambia imwe ni RB this RB that.You have to have the cut-throat attitude and tenacity in business if you want to survive pa zed like the Caucasians, chinese and Indians.
I sympathise with Mark O’Donnell because :
(1) The name suggests that he is not a Zambian.
(2)Whenever he visits Zambia he Lands in Livingstone,goes to Sun Hotel and visits the victoria fall and back to his country.
(3)The only sources of information is ZNBC,TIMES OF ZAMBIA,ZANIS,ZANA,SUNDAY TIMES and DIALY MAIL.
(4)He must be one of the infesters and or investors remitting less than 0.003% tax to the zambian gvt.
(5)He is related to David Livingstone and Cecil Rhodes who conned ma forefathers like he has done to RB and his minions.
Ba odonel is now an mmd cadre?
Can someone please tell me what a PF led govt will be using to measure economic growth. It seems whenever govt quotes figures of its economic performance and many international organizations (e.g World Bank, IMF) agree with govt, PF bloggers dismiss this data as just “mere figures”.
So PF bloggers, please tell us what a PF led govt will be using to measure its performance since they have made it clear that such figures are “useless” to them.
Maybe that is a reason why PF led LCC is failing at the simplest of tasks like garbage collection…they are not collecting data for adequate city planning since such data is useless to them. I’m just assuming because I don’t this phobia on figures.
#15 HIM
You are very ignorant.I am amazed that there are educated grown-ups in zed who do not even know Mark O’Donnell, the man behind kazuma plastics, arcades shopping mall, spar zambia franchise etc He is even past chair of the zambia chamber of commerce.Research bwana, before exposing your ignorance pa LT.Mark has probably spent more years in zambia than you.
I sometimes think to myself, how is a student supposed to know how he is progressing with his education if not challenged with Quizzes, tests and exams?? How is he going to know whether he has progressed with his education if he does not have figures he can measure his progress with?
It is sad that others only want to celebrate when there is bad news about their country and will bury their heads in the sand when there is good news. We all have a choice, we can sit and complain or become part of the action. If you want to wait for more money in your pocket in 90 days that is up to you. If you think that poverty alleviation is easy and can happen overnight then carry on dreaming. Those of us with a positive outlook lets get together and see what we can achieve and lets not be waylaid by cynicism and myopia. You can take a horse to water but you cant force it to drink.
# 18 VJ Rigger . And you as a black Zambian? Zero. Because your hero is getting support from other countries who know how to empower their citizens. He will commend the current situation because it favours him through access of REAL finance from outside Zambia. # 15 HIM . Has a point. This Mark O’Donnell and friends have actually manipulated the tourism industry such that it is basically controlled by foreigners. What is your government doing to make us compete favourably with foreigners in business? Zero. So people like Mark will continue praising the leadership -MMD.
#15 HIM, u r so pathetically uninformed!! It’s a miracle u exist!
O’Donnell is as Zambian as u in fact’ he’s more Zambian than u r. He owns most of the manufacturing industrial base in Zambia and has contributed so much to the Zambian economy than your entire family will in the next 20 years or more. O’Donnell’s voice on industry trends in Zambia matters more than that of Rupiah Banda. He is usually on the negative side and for him saying something positive means a lot. Pls research b4 u expose yo pathetic ignorance…. my God!! Is this guy alive?
# 21Motsepe
Mark O’Donnell and friends have manipulated the tourism industry coz their focus has been how best to make more money and not how best to remove the government.MMD Govt. has leveled the playing field,it is up to the citizens to stand up to the challenge.Thousands of zambians are waking up from their stupor and getting into REAL business ventures.
Chi # 15 wailetelelalafye! It is your fault most of us think you are very shallow! Mark O’donnell is a great Zambian. His main trademarks are Protea hotels, Spar, Arcades shopping mall, union gold etc. This gentleman is very sincere. Times of Zambia of course is a propaganda paper that seeks to exaggerate or report out of context any comment made to praise the current status of the economy so as to show case that the current MMD government is working. The Zambian economy is definitely very conducive for foreign investment, what the Zambians need to demand for is to have equal opportunities in terms of access to funds or capital, pay less taxes, better conditions of service if working for foreign companies and have better social infrastructure such as hospitals with doctors and medicines,…
Sorry, the last sentence was incomplete, but was suppose to read,
The Zambian economy is definitely very conducive for foreign investment, what the Zambians need to demand for is to have equal opportunities in terms of access to funds or capital, pay less taxes, better conditions of service if working for foreign companies and have better social infrastructure such as hospitals with doctors and medicines, well remunerated teachers, good roads in rural areas, viable prices for maize, etc.
#15 HIM, and when you read the Post you find yourself at the other extreme. The Post has brainwashed some people into thinking that the world map is wrong, that Zambia is a town in Somalia. I would rather read the Times and remain in Zambia. If you don’t read the Times, Daily Mail and don’t watch ZNBC TV no wonder you don’t see the schools, hospitals, roads and other developmental projects that are being implemented. Kind of explains the shameful ignorance among some of the bloggers.
# 23 VJ Rigger . How has the MMD gov leveled the playing field? How can you compete with foreigners coming with good loans from their countries? I doubt you have done real business in Zambia. Zambian fail to invest in projects with high capital injections because there is no mechanisms in place to support a Zambian citizen.
#27 Motsepe
Get to the Zambia Development Agency website and find out on your own.
whichever way you look at it zambia is a much better place than it was 10 years ago. its now possible to do business in zambia. Government, despite the rubbish top leadership do, is certainly on the right track as far as the economy is concerned. it true that unemployment is still high and that is what is frustrating people.
we need quartely reports about unemployment by CSO
#12
For real,socialist mentality is killing us.The earlier we realise,the better.
:d lol! is this guy in mars or zambia! this is the most foolish i have ever head! come on guys let us be real
People are saying they want to see tangible bennefits and not just figures.