PSDA Optimistic Of Boost In Zambia’s Investments Post August Polls
By Michael Kaluba
The Private Sector Development Association-PSDA- is optimistic of a boost in investments in Zambia’s economy after the August polls if the incoming government puts in place good policies to address inflation, high cost of fuel, and other factors escalating the cost of production.
Association Chairperson Yusuf Dodia says Zambia’s economy is not competitive and currently remains unattractive to investors due to the high cost of production and doing business.
Mr. Dodia has disclosed that investments into various sectors of the economy have remained unchanged in the last 6 months mostly due to factors such as the depreciating Kwacha, high cost of fuel, and subsequent escalated cost of doing business which is of particular concern to investors.
He has however told Phoenix News that despite some pockets of political violence recorded and the covid-19 disruption, investors remain confident that their investments are secure in Zambia ahead of the August polls with little negative political impact on the private sector witnessed in Zambia so far.
Zambia’s inflation rate remains relatively high at 24.6 percent, the kwacha currently buying and selling at 22.64 and 22.69 to a dollar respectively while sector players perceive both fuel and electricity among other essential factors of production to be high and impacting negatively on the cost of doing business in the country.
PHOENIX FM NEWS
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