Wednesday, October 30, 2024

Your Investments Safe, Mumba Assures Canadian Investors

Share

Peter Munk owner of Lumwana Mine and Chairman of Barrick Gold with Zambia's High Commissioner to Canada Dr. Nevers Mumba at the Marriot Hotel in Toronto

Zambia’s High Commissioner to Canada Dr. Nevers Mumba, says Zambia’s ability to resolve and respect the norms of democracy has shown the World that the country has the ability to provide policies that respect the rule of law.

this was contained in a press statement released by Ben Kangwa Press Secretary,Zambia High Commission, Canada.

Officially opening the Zambia – Canada Business Forum which attracted about 60 Canadian investors, in Toronto , Dr. Mumba assured the Canadian Business community that their Investments were still safe in Zambia .

He observed that Zambians had shown the world that the country had the ability to transfer power smoothly, a sign that demonstrated maturity in democratic governance.

“ For the fifth time, Zambia has shown the world that an African country has the ability to transition in dignity and respect for both the victor and the vanquished,” he stressed.

He said it was this unique character of Zambia that makes it the finest destination for any investor and that the political stability provided a comfort and peace of mind for any investor.

He said Zambia was now determined to further develop the country into a truly prosperous nation of the 21st century as a result of peace that exists among Zambians.

Dr. Mumba emphasized, “ There is a new lease of energy and hope amongst the Zambian people and we are determined to ride on this enthusiasm.”

He said he was aware of the fact that several Canadian investors had expressed great anxiety as to how the new administration of President Michael C. Sata would relate to the Canadian Investment community.

He assured the investors that the new President was one of the most experienced politicians who served as a public servant for a long time.

He said President Michael Sata fought for office of President using democratic means and that although he had opportunities to cause unrest in the country, he more than many Zambians the significance of maintaining peace and adhering to democratic norms,” he added.

Dr. Mumba further quoted President Michael Sata last Friday when he specifically addressed foreign investment in the country.

He noted the President said that,”Foreign Investment is important to Zambia and we will continue to work with foreign investors who are in the country,” end of quote.

Dr. Mumba also said that the former Zambian President Mr. Rupiah Banda who graciously conceded defeat in the recently held elections last week had secured himself a place on the list of respected statesmen in African politics.

Former President Banda had said “The people of Zambia had spoken and we must all listen . Now is not time for violence and retribution but time to unite and build tomorrow’s Zambia together.”

“This, Dr Mumba said, “is the Zambia I wish for the investors and the world to see and know.

We are committed to the respect of the rule of law and it is these values that shall protect your investments.”

It was against this background that Dr. Mumba urged for more Canadian companies to invest in Zambia particularly in sectors such as agriculture, tourism, energy, manufacturing, infrastructure and ICT.

He told his audience that currently there were more than 200 Canadian companies that were doing business in Zambia and that out of this number only 41 were officially registered with the Zambia Development Agency (ZDA) and that these enjoyed fiscal and non fiscal benefits offered by the country.

Dr. Mumba stated that Zambia had been assigned a sovereign credit rating of B plus by Fitch Ratings and Standard and Poor an indication of the country’s creditworthiness.

He also added that the World Bank also reclassified the country as a Low Middle Income country, a development that has been seen as a booster to economic development.

“The reclassification will lead to more investments which will stimulate growth in major sectors of the country,” he added.

In his presentation, Founder and Chairman of the Board of Barrick Gold, Mr. Peter Munk congratulated President Sata on his election win as Zambia’s fifth President.

He said the victory had proved that Zambia was able to rise above political differences in order to safeguard peace.

Mr. Munk whose company Barrick Gold has invested $7.8 billion in Zambia, the largest investment in any African country.

He said Zambians deserved to be congratulated for providing policies that protect investors such as good governance, the rule of law, transparency and most of all peace.

He urged the new government to attract major companies that would create employment, develop the country and raise the living standards for their citizens.

Mr. Munk said his company will continue to invest in Zambia as long as good governance issues were preserved.

“We are looking forward to be your ambassadors in the global economy,” he said.

Earlier, Mr. Henry Sakala,the Acting Director – Investments, Promotion and Privatisation at the Zambia Development Agency (ZDA) made a presentation of Zambia As An Attractive Destination.

Zambia was presented as an attractive investment destination by the Canadian Council on Africa (CCA) and two private businessmen from Zambia. The presentation made by Mr. Francis Chola Mutati, Managing Director of Tec-Trade Limited and Mr. Joseph Mbazzi Director of Projects at Plinth Technical Works Limited were good practical testimonies to some of the competitive advantage that Zambia offers.

The Investment Forum moves to Ottawa on 30th September.

[ZANIS]

81 COMMENTS

  1. Dear Mr. President. It is now time to appoint a female Vice President. One who is mature and balanced. Looking at the window from the diaspora, I see Inonge WINA to fit the position of VP. Keep well.

    • Correct!!!!!!!!!!!!!!! but let the vice presidency be rotational so that within the five year term not only one person will have served as VP. This is what made the man with red lips George Kunda get big-headed.

    • Sata should just appoint Inonge Wina to be the first President of an independent Barotseland.  That is the only way to thank her for selling Lozis to the monkeys!

      SATA NYOKO

    • I am against this issue of appointing a lozi VP,1. we all knw hw you are. 2. Not to different frm tonga’s 3. You want to steal part of our country…if you poor bustards are tired leave our country, we have a new KING!!!!! ati abalozi??? naba nani!!!!!!/:)

  2. Is this the High Commisioner who hit headlines about an Opinion poll? Another fake Pastor who will be on his fours to HE MCS asking for a job.

    Back you come sir erm Dr Fimofimo

  3. Ka Sekwila Mumba iwe, uzisunge ka! You actually have already been recalled, Sata said you conned God and such blasphemous behaviour will not be tolerated. Instead of ranting “utuchawa ati umusungu wa new one antemwe”, you should start packing you bags and once again lodge in Simon Mwewa’s servant’s quarters.

  4. President SATA please recall this useless high commissioner before he brings anarchy to the nation. this man is a snake, remember what he said during campagn trail.

  5. By the way, who did Sata include in his cabinet? Did he appoint Kalusha as the Speaker as Mushota had once suggested? Though Dora Siliya would make a cool minister of a newly created portfolio of “Sansamcation bbokosi”. With all that hippopotamous matako of hers, she can praw many majozas.

  6. Iwe chi fake pastor it is not the fifth time but fourth. 1. KK handed over to Kafupi. 2. Kafupi handed over to Levy, 3. Levy passed on and Rbish rigged to take over, 4. Rbish has tearfully and reluctantly handed over to H E MCS period. Now start packing and come back home.

  7. Good afternoon all

    Good speech from the Commissioner and I sincerely hope all our other emissaries abroad are saying the same thing. The investors need to be reassured that our new president is committed to cooperating with them on a long-term basis and that their investments are important for our country’s capital markets.

  8. all those pouring insults on the pastor you just attracting curses on yourselves, remeber inspite of him been a politician he is still the anointed of God just king soul was, i am advising you to shut your mouth, and the integrity of pastor nevers can not match in the political arena as i speak if you have one please show me. Do my prophet no harm

    • This ***** Nevers thrives on *****s like you! Annointed by God my foot! this boot licking and ass kissing excuse for a human being should just come back to Zambia and bring Ben Kangwa with him. Fools like this should not even get near the corridors of power.

  9. The man is most likely just doing his job. This even must have been scheduled well before elections. Peaceful transition of power is a strong selling point. The high commision should be commended for bringing this to the attention of investors out there. BBC or CNN will not do that for us.

  10. Nevers! who told you that that Rupiah conceded defeat graciously?? why do you comment on issues on which you dont have facts? Rupiah had no choice because the vote margin was too high and every citizen knew he had lamentably lost; besides he knew that if he remained adamant, he could ignite anarchy. You are a disgrace to the Christian community. you are an opportunist who is ready to sacrifice personal dignity and intergrity just for selfish gains. Now ,time has caught up with you and its time to pack your bags and go!!

  11. True rangers, clever but dull. History is like this fool. 1.Queen of Engand to KK-1964 2. KK handed over to Kafupi-1991. 3. Kafupi handed over to Levy-2001, 4. Levy passed on and Rbish rigged to take over-2008, 4. Rbish has tearfully and reluctantly handed over to H E MCS -2011.Your analysis,nice but not critical.Check your facts boy.

  12. Is that Nevers Mumbas “new husband?” No wonder he now walks with a limp, too much taking it from the backside where it never ever shines.

  13. I quess sekila should rise to the occassion and lead MMD since they appear not to have a president – Go mumba GO . immediately you come back home call an imergency convection and see the way forward , we need a strong opposition besides HH , the Post and KING COBRA are now ruling.
    ABARI

  14. Man of God? Thy shallnot judge yes but this man left his party to become Vice President. Got kicked out only to go back on his fours to negotiate a diplomatic appointment. Muleikalafye if you don`t know. HE MCS knows all about this.

  15. Nevers Mumba wawa foolish man. Come back quickly to join William Banda in HELL. Pres. Sata please recall this fool.

  16. I will not say that you are resurrected but I will call you a ghost…. why didn`t you bring those investors last week before election?????????????

  17. Iam saddened by the insults hurled at the pastor for doing his job.No 17, comments are terribble.The Rev has not done anything wrong to deserve such insults.

  18. What right have you got to comment on the new governments position? You belong to MMD and very you will be receiving a letter of dismissal. Nevers has forgotten that he was fired as vice president for issuing comments on matters that he is not not suppose to talk about. Now there he goes again

  19. Even during govt change over the civil service continues working. Somethings dont come to a stand still just because of elections. Same goes with the diplomatic service.

  20. People of God in as much pastor mumba made that comment when he was vice president but i din’t think he deserves some of these comments about him.Remember any one is bound to make a mistake he is just human and above all a servant of God.So please lets all be careful about the things we are saying about what God has anointed,the bible says that touch not my anointed and do my prophets no harm,God bless us all.

  21. President Sata must be careful with Nevers Mumba,s utterances. In that statement above “he says that Sata had more opportunities to cause un rest in the country” what does he mean? People wanted Sata because each time there are elections, they insult Sata and steal his votes. Ba Nevers bweleni fye inchito naipwa. Your friend RB is already at the farm in Chipata,

  22. #17 wherever you are you must apologise for your insults hurled Dr Nevers Mumba. Ofcourse he has his weaknesses and does not deserve any job from MC Sata. But your insults will certainly bring your sure demise if not utter curse wherever you are whatever you are doing. Mark my words you have just activated your countdown to your disastrous end and to be inherited by your ofspring!

  23. Nevers Mumba….Most people have lost trust in you no matter how sweet talk you will be.Better you keep your mouth shut and just come back to zambia.You are a very BIG LIAR and desgrace to this nation and i dont know wat RB had seen in you to be appointed as an ambassador.You are a very dull man.

  24. Doctor, you need to come home and bring sanity on the political platform, bangwangwazi are in power and it looks bad. Actually i forsee this ngwangwazi being impeached, if he doz not deliver in 90days he gave himself. This time its all about fruits, no fruits, zwaaaa

  25. i do not understand why people are feeling pitty on Nevers Mumba, can any1 tell what good he has done for the country apart from him looking for a job in politics? he should have stayed with the church

  26. Please I beg you my fellow bloggers, It is not advisable to insult the anointed ones. Dr Nevers Mumba has played a pivotal row in the Zambian christianity fraternity and besides has contributed in its governance. Although I agree with you that he may not deserve this appointment its not in order to insult him.

  27. Sebana wikute Man of GOD! you should have played a balanced approach and humbled youself before the appointing authority. Ba Mumba kuya bebele Mukwai. Come home the church GOD gave you has been neglected over your selfish and attitude. Ukutemwa soap

  28. Imwe mwebantu???? Is Nevers Mumba an annointed one??If so, he shoudnt have received those brown envelopes those days.# 17 you are correct!! Those are the right words to use for such men.How do we give respect to such men who hide in Church and shout Halleluar !! Halleluar!!! Stupid.

  29. If I was a Canadian infestor like this Barrick Monkey, I would pull my money out quickly and invest in a country that is more predictable like DRC (there is no pretence there from corrupt smooth-talking nervous Pastors or schizophrenic SATAnists – everybody is corrupt and violent there, so you go prepared).  Mr Munkey, bad timing with your $7 billion put into Lumwana.  SATAn will Levy 75% windfall taxes on the capital investment every year for the benefit of his Kaponyas.  Watch this space, sir.  You have been warned.  You should have let the Chinese make that mistake instead. Sorry sir Munkey.

  30. An event that was organized half a year ago happens to over the weekend, and people assume its a ploy. Be objective, demand intelligence even of yourselves. Sata will come and go just like those before him. Hold your tongue for this is only a season.

    On the other hand, please understand that as much as the ‘people’ hve voted H.E Sata into power, the International community have their legitimate concerns over the ladership of our now president. As such, its the responsibility of any leader to ensure those concerned that thei investments are safe. 

    As for H.E Sata, my wish is that he delivers ad plays his part in the great future of our country. To R.B, excellent job, thanks for your service, humility and pragmatism.

    God bless Zambia.

  31. Nervous Mumba i think your job is over.Just begin packing.Bumuzungu anikonde or bu muselela kwakaba wont work with MCS.I hope this time you managed to put up a structure
    in Chalala or Ganerton otherwise it will be Baphiri banabwela.

  32. Ba pastor Mumba that peter monkey will now have to pay a windfall tax and if his company is not wiiling to that then he should let go.Zambians need to benefit fro it’s resources especially
    the copper mines

  33. Dear Mr President Sata.
    Zambian people voted for you despite all the insults and names MMD cadres and Ambassadors like Muselela Kwakaba Mumba called you. King Cobra, please spit and don’t get fooled by their comments and kindly Re-call all of them with immediate effect. We have a lot of Young Zambians in the Diaspora who can qualify to work in Foreign Offices.
    May we also request for an inquiry on all these Mine deals including Lumwana? As the owner on the picture looks worried considering that he got the Mine for free, after some huge brown Envelops to Mumba, Dora, RB to mention just a few.
    Bring back our integrity as your young ZAMBIANS

  34. Sometimes it is better to keep quiet. Many people are suffering because of their utterance especially against men of God. Whether the man of God is the right or wrong, God does not want them to be insulted. It is biblical. King Saul was living in sin, but David refused to attack him. David said ‘Touch not the anointed of God’. Be very careful bloggers. God bless you all.

  35. Zambian diplomats are not partisan anymore. They represent Zambia and have their contracts to fulfil. The HE Mumba is just doing his job. This meeting was arranged way before Mr Sata became President, so you good for nought people stop poo pooing the message. It was very well delivered and President Sata needs such eloquent servants of Zambia.

  36. I really don’t see any need for such vulgarity on Dr. Mumba’s speech, I thought he spoke well and positively presented Zambia as an ideal investment destination.

    Nine Chale I hear you and totally agree with your comments @ 9.

  37. every one whether opposition or rullin are answerable to president.

    people have the liberty of chosing their own parties. he was in his paty then. mind you Zambia is a developin country. recalling him by mouth is very simple but their are monies attached to his movements and other payments. people should think. we know they want jobs but its not that way at all. let the new president find good advisors and not fake people who also want jobs .

    We have only one Zambia to serve and we need to behave. let the presidents advisers speak. thanks

    • whats is wrong with some one securing his job. take william to court and not in that manare. mind you the super poers are watching and following what is happenning in zambia. if we insite bad motives on leaders others will move in and through you in the ocean too. dont be a dictator

  38. Is Nevers looking for a job?…President Sata should never tolerate turn-coats like Nevers, they are not only useless, they are dangerous.

  39. :(( I cry for peaple who just utter anything that comes in there mind.Dr Mumba has contributed a lot to this democracy we enjoying in zambia.He deserves some respect.Plz i urge you all blasphemers to stop all these insults.

  40. Lets wait and see what the President will decide on Dr Nevers Mumba. Am still shocked to see that he has given Jobs to People who stood with him. Most of us wanted some people of our choice in different potifolios of the Cabinet. I can stand to say its better to keep Nevers in canada because of the relationship he has with the owner of Lumwana Mine. We need people like him who can bring in credible investors..Not chinese infestors.

  41. Ba pastor! No similarities between MMD and PF. Thanx for you words but know that ur time is up. MCS, make sure that all politicians are back from mission abroad including Ben Kangwa. That appointment was the work he did in 2006 election for Levy at ZNBC. Ba Pastor sorry the flock is scattered by now as you the Shepard you are a hired man who is looking for riches.

  42. HE Mumba has stolen over 100 thousand dollars by lying to these investors and now he has lost his job. His looking to eat of the miners. Good he has been recalled, he makes Zambians sick around the world. A missed up pastor only think abt himself. Some man of God.

  43. Asked if he had given up his presidential ambitions now that he had been appointed to serve in the civil service, pastor Mumba responded: “I am a civil servant and on my way to Canada.” Pastor Mumba supported and vigorously campaigned for President Banda in the October 30, 2008 elections. Now his finished.. Mr. Peter Munk of Barrick gold. Don’t trust H.E. Nevers Mumba. He will destory u and the company. Ask Zambians abt him.

  44. Mr Peter Munk. Can you please read more on Nevers Mumba. This is the second time he has been fired. and so many people have written.The mistake you will do is give this guy a job. His a pastor with a sweet mouth but a crook..Has lost his job.. Don’t trust him.

  45. Join Scentsy US Sell Scentsy Puerto Rico Become a Scentsy Consultant Puerto Rico Sell Scentsy from Home Sell Scentsy Candles Online Sell Candle Online Sell Candles from Home Start a Candle Business Online with Scentsy Work from Home Legitimate Work from H Join Scentsy US Sell Scentsy Puerto Rico Become a Scentsy Consultant Puerto Rico Sell Scentsy from Home Sell Scentsy Candles Online Sell Candle Online Sell Candles from Home Start a Candle Business Online with Scentsy Work from Home Legitimate Work from H

    Cheers!

Comments are closed.

Read more

Local News

Discover more from Lusaka Times-Zambia's Leading Online News Site - LusakaTimes.com

Subscribe now to keep reading and get access to the full archive.

Continue reading