A SOUTH African delegation of 38 business people from 14 companies which recently visited Zambia plans to exploit investment opportunities in the Copperbelt and North-Western provinces and to promote and strengthen bilateral trade.
The Outward Selling and Investment Mission to Zambia was led by South Africa’s Minister of Trade and Industry, Dr. Rob Davies, and comprised of companies from the energy, agro-processing, capital equipment, infrastructure, metals and healthcare sectors.
According to Zambiainvest Weekly newsletter, South Africa is Zambia’s main trading partner, netting 28 billion rand of exports from Pretoria in 2014 while imports to South Africa from Zambia totalled 1 billion rand in the same period, making Zambia the fourth main trading partner.
Dr Davies, whose delegation was in the country from October 6 to 8, however said that there was a R28 billion gap between both countries, the reason why South Africa was seeking investments in key sectors of Zambia’s economy to promote trade and raise create employment in the long term.
The Zambia Development Agency (ZDA) director of investment Agnes Chaila invited the South African delegation to invest mostly in the manufacturing sector which represents the greatest potential for them due to their experience in natural resources exploitation.
The Zambian manufacturing sector currently represents 11 percent of the country’s GDP, according to ZDA.