President Rupiah Banda has been invited by a leading global news and information company, Thomson Reuters ,to speak at its first ever Africa Investment Summit to be held in South Africa.
President Banda is expected to join top politicians, Executives and investors to explore the opportunities and challenges facing investors in Africa.
The inaugural Africa Investment summit will be held from the 7 to 10 of March 2011.
Reuters Bureau Chief for Southern Africa Marius Bosch said that the foreign investors and many Reuters clients are increasingly interested in Zambia and its investments prospects.
This is contained in a statement released to ZNBC by Special Assistant to the President for Press and Public Relations Dickson Jere.
Mr Jere said delivering economic prosperity to all Zambians has been at the heart of President Banda ‘s policies and his government has worked successfully to build strong foundations for tomorrow Zambia.
He said great achievements have been made in improving economic stability and the country has drawn considerable international recognition, receiving its first sovereign rating from FITCH which rated Zambia at B plus.
Zambia’s economy expanded to almost 7 percent last year and it is predicted to be one of the world’s top ten fastest growing economies for 2011-2015 a sign that there are good times ahead for the Zambian economy.
And Vice President George Kunda has said that the Credit rating of B plus by the International community will enable the country attract investment.
Mr Kunda said that the development also showed the confidence the International community has, in the government’s robust economic policies.
He said that following the rating, Zambia will be able to float bonds for various infrastructure development projects in the country.
Mr Kunda was speaking in Parliament on Friday in response to Milanzi Member of Parliament Whiteson Banda who wanted to know what it means for Zambia to gain a credit rating of B plus.
He said that the international community is also impressed with the way government is fighting corruption
[ZNBC]
Yes, this is more like it. This is what I want to hear about my president doing. Hey Mr.President, when you are done discussing this important developmental issues with your colleagues,, call me up and let’s strategize on how to move Zambia forward.
Why didn’t we get A+? When I was at school, B+ was never good enough.
This is good news and it’ll give Mr. Sata and his cadres headaches. Being invited by Reuters to speak at an investment forum is really good news for the nation. The nation will gain great exposure and attract a lot of investment at this forum. Good one H.E.R.B. Go make the nation proud.
Actually B+ is average, A, A+ is high performers, B+ is struggling, not very good.
What investment body will not invite someone into a country where a so called investor has a free for all?
This not an indication of the gains for Zambia but rather for the gains for the so called investors! drug dealers go into countries that have lax drug laws. Zambia at the moment is like the wild west.
Guys, your taking this B+ way out of proportion. For an African country making its debut in the international bond markets, B+ is ok. Ghana managed to raise $1 billion USD with B+. Zambia plans to raise $500 million USD so I think for now we we’ll be fine. We can build on this B+ to make it in the A grade. Rome was not built in a day.
#3 Mr. Capitalist
You just getting worse by the day. Mark my word he’ll probably be the only president in attendance others will be too busy to be paraded at some hotel in RSA by Reuters and a few management interns. While we on this subject, last year RB was in Turkey to woo investorsnow , do have an idea of how many Turks have since invested in Zambia (not kerbab investors)?
Country men and women lets give Mr Michael Chilufya the vote in 2011.Trust me this man will change Zambia. Lusaka will be totally clean, hospitals will have medicines roads will be built and govt stealing will be a thing of the past. Please lets give this TIGER of a man a chance in 2011. Vote SATA!
Atakatusampuzyi ooko nkwaya.
#8, I will neither bet with my life nor the future of my children.
@ #7 msana wanzili
If other presidents will be too busy to attend, then that is fine. They’ll miss out on a chance to market their nation to one of the most respected news agency in the world Reuters and not your Post PF vuvuzela tabloid. Following the success of the BRIIC nations, investors are not willing to miss out on opportunities wherever they are and their eyes are on Africa.
The Economist run a story at one time pointing out what they called “The African Lions” and Zambia was on that list. No matter how much it hurts you, Zambia is progressing under the leadership of the MMD post Mr. Sata. Zambia must not be held back simply because people like you hate development.
As for Turkey, all I know up to date is Turkish Airlines is investing. The rest, you’ll have…
Zambians, my brothers and sisters, first and foremost we belong to this country, I always wonder why we are so against anything positive concerning our country, maybe I have been away too long, but then again, I am so proud whenever we are recognized. This does not mean that I do not appreciate the hardships and poverty some of our people are enduring, we should be supportive of our country even if we do not like the present Government when it is at international level. At the end of the day, some of us with or without citizenship in countries of residence have connections with Zambia that will be there forever. Love, hate Zambia, but for me it is the best place I have lived.
cont. from #11
The rest, you’ll have to ask ZDA.
Correction: The story the Economist run was pointing out “The Lion Kings”
#2, when I was at University, B+ was credit. But again B+ is quite an achievement when you are starting from nothing. It is a step jump which means that you have what it takes to be among the best.
I use this type of encouragement with my students and believe you me it works wonders.
#7, then you do not know who Reuters is. If other Presidents do not wish to attend, they have their reasons and we have no control over that. What we want is to market Zambia and not simply to be among other politicians. The private investors that we want are found among the business executives that will attend. Investment is usually a long winded road, and sometimes it starts with simply putting your country on the world database. But if you are a “90 days economic growth”, you would have no patience to wait, neither can you understand these concepts.
#8, how can I vote for a man who has not said anything in terms of how he will take the country forward? You expect me to do so just because you his clans mates say so? Or because you stand to benefit personally? No Sir, I am not that daft.
This is supposed to be good but the truth is we have no institutions in place to ensure that any debt contracted on our behalf by the government goes where it is supposed to go to. Big parties have a habit of coming to an end, leaving behind huge hangovers. Our finance minister was on record saying that Zambia can now borrow from many sources. I am worried for our children and future generations who will be saddled with huge debt. Our government is addicted to debt and corruption.
#17, it’s called debt sustainability. So much information has been given on this blog by experts on this subject. There are economic ratios which are used to determine whether a debt is sustainable or not. The only problem is that if you are PF, economic indicators do not work in your favour so you would rather pretend that “numbers don’t feed the masses”. The tragedy of PF is that you want to rule Zambia, but you reject numbers and ratios that will help you to measure the economic performance of your government. In the unlikely event that PF won the general elections, the people would rise against you within 90 days when they discover that you are a fake after all.
Hhahahaha, excited about a B+ that came through bribery and cheating. As a gvt employee, we paid the guys to rate us favourably. But hey did you know we can raise money locally from appropriate taxation regime? A lot of companies and individuals are not complying due to poor tax admin system. Firms have learnt to change names every after 5 years to avoid taxes and no one is working on mitigating that: Examples, Discount steel, now BSI, Shoprite, now shoprite checkers, etc. The president’s system of meeting investors oiin hotels is killing Zambia! Need appropriate boidies to deal with investmnet issues
#3… I don’t understand your weird excitement about rupiah speaking at this investment forum. Its something anyone can do, even a grade seven drop out can do that.
Rupiah will only have his paper written by experts and all he will be doing will just be parroting someone else’s ideas, things he does not even understand.
I would love to see rupiah talk & articulate the Zed economic situation without reading and he will just be waffling and probably end up swallowing his own tongue
@ #20 Nshi Sunda Chisunde Sunde Kano Fye Mu Muntu
The excitement is that it’ll be at a forum organized by Thompson Reuters. If you don’t know what that means then I don’t know. Whether H.E.R.B will be reading from a piece of paper is neither here nor there. What matters is that Zambia will be marketed to investors as a top investment destination in Africa. That will have positive effects in terms of investment which will help the Zambian economy greatly.
I know you understand this but you are just pretending to not know or are just trying to be critical for the sake of it.
Capitalist @3. This is gutter politics we are talking about. Its not enough to just look at a good thing and appreciate it for what it is unless you associate it with something else?
Yrrrrrrrrrrrrrrr!
Imagine the level of excitement the day RB will be invited for a photo opportunity in the Oval office.
Mr capitalist FYI this same news agency has given awards to Fred and the Post!!!!
Zambians want change not paper development and what MMD chaps are calling good news.Your B plus and your paper inflation are nothing because poverty and unemployment levels are worsening. Vasco Da Banda the Explorer has just missed his useless foreign trips,hence justfying the trip. This year you are going,enjoy your last trips.
#21..Mr. Capitalist…
I do understand the marketing element of rupiah’s presentation and I have no quarrels with that, but how does that give Sata headaches?
If anything, when it comes to foreign investment, Sata has been vindicated by Rupiah govt by the way the Chinese have been made to disregard the laws and respect for Zambians with impunity.
Lets face it, while govt welcomse the Chinese investment into the country, the people generally resent it because of the ill treatment at the hands of the Chinese.
One of the reasons why rupiah has to go is that he has chosen foreigners over his own people, the people that made it possible for him to be where he is today and manage (not mismanage) the national affairs on their behalf.
#8 you have to be kidding me. so i should just trust a guy who has said nothing about the economy or health care.what is this? are we in the 16th century?
#25 Mr Banda has not chosen foreigners over his own.It is mostly our own pipo that make it that way-give a rd contract to a zed co and you’ll see,we run zamtel to the dogs,we run mines & productivty was going down,we ruined zed air and then just go to our hoods and see the rot we live in.Rupiah never held a gun to any zedians head for all these self inficted wounds.
Electing RB is only about giving you an enabling environment to improve yourself & compete,start your own firm,getting tax breaks-otherwise expecting easy handouts is tantamount to accepting a rope with which to hang yourself.
Mr Capitalist, if really investors had recognized Zambia as a wonderful investment destination spot why wasn’t this conference held in Zambia? Please spares us with your unnecessary excitement over nothing.
#16 and #26 HH Sata and Global Citizaen
Truly speaking I know many people want an elaborate plan of action from PF and that is indeed coming and I must point out that such a plan is a working document which can be further refined. To come up with elaborate development paln you need access to government machinery in terms of country wide research documents and a group of technocrats strictly dedicated to developing such a plan. Now an opposition party due to lack of access to such resources can only come up with a skeleton plan. However what is currently troubling are bread and butter issues that Zambians are facing i.e. no medicines in hospitals, no proper sanitation, no water, poor roads and these Mr Sata can address immediately, other presidents have failed to solve these problems.
Propaganda spread. What good has b+ done to the common man?
#27..All the businesses you have mentioned were govt or quasi govt institutions with heavy political involvement. The appointments were all based on political patronage. In all these institutions who were/ are biggest debtors and defaulters on paying bills? Govt departs.
Who directed and diverted resources to political party activities instead of investing and improving service delivery of these companies? Govt…
In short govt was/is responsible for the bad performance of all these companies.
On the other hand, true there are some Zambian companies that have performed badly on some contracts much as there have been foreign ones. Remember not everything foreign is great.
The question is who is responsible for protecting Zambians from gun toting trigger happy Chinese employers?
Wow’!! Thomson and Reuter merged a few years ago to become the world’s biggest “Market-Data” & “Fundamental Market Analysis” information provider. This will be a good opportunity for RB to market Zambia to Global Investors. These guys always invite countries that perform.
This is what we call a leader that is so determined to move Zambia forward. Unfortunately, certain elements expect this just to change over night. RB keep laying the foundation for growth.
The leading world economic performers in the last 3 yrs have been Emerging Markets, such countries to the likes of Brazil, India, Indonesia, China and some African Countries etc. This is at the backdrop of giant economy’s shrinking.
#18 Unfortunately your contribution is a bit pastronising and belittling and lacks any facts. We are all grown up and educated, I assume. You are assuming that a PF government would be run by ignorant and uneducated people. The truth is there are enough people in PF with the same level of education and intelligence as the rest of the population. I agree, as a scientist I am probably not best placed to comment upon economic matters, but I know the people we have in charge. History is a good teacher. Figures in Zambia don’t mean anything because they are not adhered to. We cannot even produce a meaningful budget year on year out. Our budgets are works of fiction. Projects are undertaken on a whim to bribe voters, throwing the budget out.
The truth is another five years of Banda will completely destroy democracy in Zambia. If he wins the next election, he will set about to settle score with all those he deems to have been ‘insulting’ him. He will shut down The Post, start harrassing the opposition, etc. Our politicians need us, the people, to show them that we can vote them out of office! Otherwise, they will continue to take us for granted. Sorry guys. I know I am off-message, but I just needed to vent my spleen.
We have a lot comments that are coming from just fancing a squabble For example, as powerful as the USA & UK economies are, these countries are running on borrowed money
-Britain is currently paying £190m Interest Per Day on its Billion Debt
-London Stock is 66% controlled by foreign money/capital
-USA owes China $$ 5 Trillion in US Treasuries
-USA has just frozen $30Billion Libyan Assets in US Treasuries
-Saud Arabia has bought $Trillions in US Treasuries
-Other Arab countries like Bahrain, Quatar, UAE also have Billions of US Treasuries
In other words if all these countries pulled their money out just in seven days, USA & UK will crumble like a melting lollipop.
Cont..from 35
So, while Zambia needs to be self self-dependent, we still need to market ourselves on the International Platform to attract investors and export Tourism, Products & Commodities.
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals.
We call it ‘intelligent information’ because we combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, scientific, healthcare and media markets, powered by the world’s most trusted news organisation.
With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people in 93 countries.
In Australia and New Zealand
In Australia and New Zealand we focus on delivering accurate, relevant and timely information and information management solutions for legal, tax and accounting businesses, professionals, academics…
4# Akol
Zambia has done very well to get a B+. I use this info as part of my job on the Stock Market
(These rating are on the same level as those from S&P and Moody’s)
Herewith is how the Ranting Standing are registered. For example
A+ is better than A or A-
B+ is better than B or B-
FITCH – SOVEREIGN CREDIT RATINGS
INVESTMENT GRADE
AAA Highest quality, reliable, stable
AA High quality
A Strong payment capacity A
BBB Adequate payment capacity
SPECULATIVE GRADE
BB Likely to fulfill obligations, ongoing uncertainty
B Financial situation varies considerably
CCC Vulnerable, dependent on favorable economic conditions to meet payments
CC Highly vulnerable, speculative
C Close to default, may be in arrears
D Defaulted on obligations
and students.
We have a talented team of more than 550 working primarily from our offices in Sydney, Melbourne, Auckland and Wellington. We also have sales offices in Adelaide, Brisbane, Canberra and Perth.
Our customers look to us to meet an expanding range of information needs through:
All the money Zambia makes does not go back to the people. I do not mean start giving people money no. For example roads, water, health,food. Especially if our GRZ can invest in new technology in farming.
If our GRZ can promote agriculture for our yourth and also help establish market for the agro products our country can propel into a well developed country. It is supprising that Australia is one dry place with most water bodies having salt water yet there is never a day that tap water is gone. While in Zambia regarded as the best place with abandant water resource yet water only comes at nite or early morning.
Sure correct !! That is part of the mission statement from their website. Providing “Intelligent Information for Businesses” is part of the what they do. Thus also called Fundamental Market Analysis.
Else, they make their money mostly from providing Market Data or Stock Market Prices and historical data for Equity Traders, which they use when placing Sell & Buy trades.
For example if you watch Business Channels like “” Bloomberg”” or “”CNBC Business.””
You will note companies names rolling on the bottom of the screen with Stock Prices also referred to Market Data. This Market Data is subscribed to Trading Application Systems for traders via realtime delivery
39:Mwanya bane
Sure Correct…. That is part of the mission statement from their website. Providing “Intelligent Information for Businesses” is part of the what they do. Thus also called Fundamental Market Analysis.
Else, they make their money mostly from providing Market Data or Stock Market Prices and historical data for Equity Traders, which they use when placing Sell & Buy trades.
For example if you watch Business Channels like “” Bloomberg”” or “”CNBC Business,”” you will note companies names rolling on the bottom of the screen with Stock Prices also referred to Market Data.
Good ridance. Each time he leaves we get some fresh air. Let him NOT come back.
We need more deals at state house. We need more money to pay chanda chimba and our gallant bloggers
#31 you keep blaming this amorphous thing called “gov’t” yet a closer look reveals the problem is you,me& us.This gov’t is a reflection of us as it explains our uniformity of bad performance-if they fail coz they’re quasi gov’t then why have private zed co’s not thrived either?Why have chinese quasi gov’t co’s thrived?It is not about quasi gov’t but the calibre of folks behind it whether private or quasi gov’t.
Regarding chinese shootings also comes down to the same.Who is in gov’t that is responsible?That response also reflects us,our “values” more than “gov’t” Why do i say so,bec
HH CAN NOT BE PRESIDENT
Some well informed sources have revealed that the UPND current president, Hakainde Hichilema, can not contest the presidency at their forthcoming party convention, having previously lost two elections. This is in accordance with the UPND constitution.The named source claims that HH may only be alowed to contest after 2012.
….cont..
because those in gov’t are an offshoot of society.Truth is its more “accepted” to touch a regular zambian.If those shot had been “big shots” the response would be very different.Its the same unwritten rule of accepting a successful exotic zambian than an indigenous one who we’re more willing to put all kinds of “labels” on to explain their success.In TZ they’re more willing to be exploited by South African firms than black “investor”brethren from kenya.Thus the response is also an indictment of the wider society not just “gov’t”
Is this a joke. RB cannot articulate himself. What is he going to speak about? How to globe trot?
# 45/47..Your lack of understanding of how govts function is embarrassing.
#48, RB CANNOT articulate lies, deception and twisted facts LIKE Mr Sata and PF cadres, but he definitely DOES articulate economic issues UNLIKE Mr Sata. The world of international business knows that, otherwise why would they invite him? Organisations like Reuters do their research, they don’t act the PF way at all.
H.H. Sata says:
who are iwe mambala do you even sleep koswe iwe spending the all year defending the corrupt MMD grow up go and look after the children!!!
#49, I am surprised at the proliferation of typical bemba insults as blog names on LT. Is it a reflection of failure to keep secret the very foundations of PF or a growing confidence of some bold members of the small but highly secretive ‘intambi shesu” clan? Frightening for Zambia really, for those who can interpret the meaning of this.
# 52..Do you surely believe you understand the intricacies and complexities involved in running govt?
Just go back to your contributions @ #s 45 & 47.
If your contribution makes you proud, then its no wonder our country has regressed to the medieval times
#21, You’ve made your point very clear and those opposing you are doing it because that’s what they’re on this forum for.No matter what the issue is, as long as it involves RB then expect such reactions.If it was Sata who was invited to speak at the same forum you would have seen how the same people would have been talking.Our leaders should step up their game to market our country using every forum possible.We need to be known to the world for the right reasons and marketing zambia as a good investment center will always be appreciated by right thinking zambia.Way to go RB!
@Independent Observer
I most of the time like your level headed postings, but let me disagree with your comparison of debt contraction between Zambia & big economies, USA & UK. Investors in those countries don’t externalise the money they make from investment, hence the money circulates within those countries, which in not the case in Zambia where money is never in local banks. If money were to remain in our banks, things would better. Good day…
There is need to ”market” the country but it is also equally important to acknowledge that as a country we still have alot of challeges ( street kids,unemployment,unpaid retirees,poorly paid government workers,corruption,prostitution,wasteful expenditure,abuse of authority,institutionalised plunder, tax fraud etc) and these gradings must be analysed in the right context.
At least Banda can talk sensible on an internation fora than Sata as he has interllectual capacity. He embarrassed us so much on Voice of America with Shaka Sali and I even regreted why of all people they had to bring such a person to represent inteligent zambians. The interviewer even told him to be civil in talking. Edith Nawakwi already warned us that Sata cannot listen even for 10 minutes, hence he will embarance us at the UN where leaders have to do much listening.
Good afternoon
The invitation to the summit is a good opportunity for Zambia and as Zambians, we should all be proud that our country is slowly getting the recognition it deserves from the international community instead of starting to ridicule our government.
I wouldn’t overrate the event but I wouldn’t underrate it either. The fact is that there is indeed a high opportunity of building businesses in the sub-saharan region and investors (both foreign and local) have the ability to create intermediate capital and contribute to exceptional growth and profitability of the whole region. Zambia has the potential and resources to play an A plus role in these emerging markets. We shouldn’t be satisfied with a mere B plus.
.
@ 38 INDEPENDENT OBSERVER- Thanks for drilling down the Credit Rating grades.
Like @ 55 has said, I also appreciate your comments and your level of Good & Intelligent Thinking.
Imwe Ba KAPONYA’s can you read and learn something how these rating are graded from 38#.
He has given you the breakdown. You are full of insults and talking shiiit, just like your leader.
Those who got handouts from Gaddafi will all be revealed soon. Some prominent MMD guys are on the list. Wapya munzi this year!
#33 Chatapankwa. Kindly tell us the quality educated guys in PF. I do not see any that are worth entrusting with national resources. Their President Sata once featured at VOA wiht Shaka Sali. I have to tell you it was a disaster as he was paired with a Dr Freeman from USA. The matter under discussion was the value of chinese investments in africa(a matter so dear in sata heart) and he failed to articulate issues. He ran away twice from the panel in full view of the world. Shaka Sali had to go back to plead with him to come back to the panel on two occassions. The Global Economy is complex sir, if you do not have education. Whatever the experience. Do not take chances with the President’s job.
i think we are hearding somewere as a nation, forget about those PF cadres that are in day dreaming that they will form govt. I’m sure chaba chita pa mkosi right now that we being recognised international which is a positive indication to the groth of the nation
What is the best attainable approach of getting protected against third party law suits?