17 German companies eye Zambia


A DELEGATION of 17 German companies is in Zambia to explore investment opportunities in some of the critical sectors such as energy, agriculture, manufacturing, water,  information and technology and  E-governance among others.

The investors, led by that country’s Minister of Foreign Affairs Frank Walter Steinmeier, arrived in the country yesterday and declared that the 17 German companies were eager to invest in Zambia in as many economic sectors as possible.

And President Edgar Lungu said he was happy that many German companies were ready to invest in Zambia and that the pledged investment had come at an opportune time when the country was going through one of the worst economic challenges as a result of the global economic meltdown.

President Lungu assured the Germans that their investment would be safe in Zambia because the country had been politically stable and peaceful since independence in 1964.

He said Zambia had a lot of potential for new business and advised the German business delegation not to be restricted by the existing investors because the country was looking for fast economic growth in all sectors.

President Lungu said he was happy that the German  investors had cut across several sectors ranging from energy, manufacturing, water, information and technology and public transportation among others.

He explained that Zambia was going through serious economic challenges as a result of the energy deficit that had hit the country because of the inability to generate enough electricity because of low water levels in the Kariba Dam.

The Head of State said the energy deficit coupled with the plummeting metal prices had negatively impacted on the general performance of the economy.

He stated that the power deficit was an emergency which his Government was working hard to resolve and was confident that with the pledged investment in the energy sector, the country could soon have its normal and optimal supply of energy.

“I am glad you have found Zambia an ideal investment destination from among other countries in the region.

‘‘Zambia has been very stable politically and we are not taking it for granted. There is political turbulences elsewhere but in Zambia your investment will be safe.

‘‘And we want to operate within the law and it is our desire as the Patriotic Front (PF) Government to walk the talk and do what we promise,” President Lungu said.

The President urged the German companies to consider partnering with local investors in certain sectors as a way of allowing Zambians to participate in the economic activities of the country.

Some of the companies included AMG Mining AG, Gauff GmbH & Co Engineering KG, AmatheonAgri Holding NV, Siemens AG South Africa, B. Braun Melsugen, Veridos GmbH, Ferrostall GmbH, SAP SE and Global Woods International AG.