Bank of Zambia (BoZ) Governor Denny Kalyalya says Foreign Direct Investment (FDI) in flows fell by almost 50 percent to about US$560m in 2018.
Dr. Kalyalya says the significant decline was mainly due to losses of almost US$340m mostly in the mining sector where some companies encountered operational challenges.
The BoZ Governor says as a result of declining profitability, borrowing from foreign affiliates increased to about US$640m in 2018 from US$560m in 2017.
Dr. Kalyalya was speaking during the dissemination workshop of the Foreign Private Investment and Investor perceptions survey results in Lusaka today.
He explained that in terms of sectoral performance, the manufacturing sector was the leading recipient of net FDI liability flows.
Dr. Kalyalya explained that peace, security, political stability, and a relatively stable macroeconomic environment have continued to be the main motivating factors for investing in Zambia.
Can’t find the Zambia Police email (only phone numbers on their website and website admin email address). Please forward en masse.
Hi ZP,
I would like to bring to your attention scammers who are stealing from people by pretending to be car dealers selling repossessed vehicles on behalf of the banks at ridiculously cheap prices. They pretend to run a legitimate business at a Garage called Prestige Motors website prestigemotors_dot_co_dot_za, address cnr great North and west st Pomona Kempton (a lie because the address is for a different company). They operate internationally under different aliases and disguise websites, e.g. caryandi_dot_com (Zambia); cartsenga_dot_com (Swaziland).
They use some of the following numbers to communicate with their victims via WhatsApp: +2773 409…
They use some of the following numbers to communicate with their victims via WhatsApp: +2773 409 0208; +2781 051 4535; +2767 664 3090.
Please investigate and arrest these criminals before more victims lose their money and livelihood.
P.S. I was looking at buying a car for my nephew who lives in Zambia. I almost fell victim to the scammers but I was suspicious and started investigating them. It didn’t take me long before I discovered that they are a big scam.
Let’s develop this thing! HAZALUZA HAGAIN because he is a LOSER.
Meanwhile our humble leader’s jet trips increased in the name of wooing foreign investors
Meanwhile our humble leader’s jet trips increased in the name of wooing foreign investors
Guys,
Running a successful business is a complex undertaking.
We investors weigh:
*** Current interest rates accruing from banks
*** Return On Investment (ROI) if we put that money in bonds or mutual funds, and
*** ROI if we invest in a different venture, elsewhere
Considering that our investment in Zambia is vulnerable to bribes/corruption/party intervention etc., the ROI from a Zambian-based investment must yield 2-3 times of those mentioned above—TO BE ATTRACTIVE….Hence the decline!
So let me get this straight. You over borrow to improve the economy for over seven years but ever since the GDP keeps going down from previous year percentages and now foreign direct investment (FDI) has declined too? So what is there to show for the 19 billion dollars debt you have heaped on the people of Zambia ba PF?. A politically divided nation, a clueless government, a frail economy, drought, depreciating kwacha, increasing inflation and a huge debt, one can only wonder when and how we can correctively begin doing something right to correct the averse conditions the country is facing.
What can be more gay for an economy than a 50% reduction in FDI? Shameful!
What do you expect. With loadshedding, economy in tatters where the people have no buying power for whatever they will produce, government bureaucracy, no fixed policy, high fuel, high taxes etc who will want to come and invest?
Of course they did. Who is this person? Bank of Zambia is a private concern of Rothschild And Company NY USA and NOT therefore sovereign asset of Zambia. Foreign FDI will not happen as we are following our failed “twin” failure and corrupt Mugabe created Zimbabwe.
You started okay but ended up confusing yourself
The FDI in 2018 is equal to what the Americans give zambia in aid. And sone foolish president says we can do away with American aid. Its because they cant steal American aid.
The decline in FDI could also be partly due to fears by investors that socialist political parties like the Rainbow Party and the Socialist Party (Zambia) are likely to secure the people’s mandate to form government and embark on efforts designed to pursue state ownership of non-human means or factors of production and distribution through nationalization and expropriation of privately owned companies, as well as engage in centralized planning and control of economic activities, particularly activities in key and strategic commercial and industrial sectors of the country’s economy.
The worst is yet to come, keep voting for PF thugs!