German investments safe, says envoy

THE advantages of doing business in Zambia far outweigh the current economic challenges the country  is facing to make Lusaka a suitable investment destination, says German Ambassador to Zambia Bernd Finke.

Ambassador Finke said the German government believed that its taxpayer’s money was well invested in Zambia due to its potential of doing business.

In an interview with the Daily Nation, Mr Finke explained that when German investors weighed the pros and cons of doing business in Zambia, the pros outweighed the cons.

“We believe that German taxpayers’ money is well invested in Zambia and that we can still make a difference on the ground,” he said.

However, Ambassador Finke said investors needed predictability and surety and business policy regulations.

He said investors needed to be assured that their businesses would be corruption-free and that policies would not change few months after putting up their investments.

“Zambia is in need of foreign investment because it is now a priority for Zambia’s policy to attract investors,” he said.

Meanwhile,  Mr Finke said Germany had doubled its development funds for Zambia by over 50 per cent.

He said Germany would provide assistance amounting to Euro 120 million for a three-year period  from last year until the end of next year.

“Germany has doubled its funds for Zambia; we will provide assistance amounting to Euro 120 million for a three-year period until the end of next year.’’

Ambassador Finke also said Germany offered preferential loans to Zambia for investments in the energy sector.

He explained that there was need for the Zambian Government and stakeholders to speed up reforms in the energy sector to boost investment.

Ambassador Finke further said many German investors were coming to invest in the Zambian solar sector.