THE regular performance of the economy for this year will be affected by elections because there is a tendency for investors to hold back their investment due to the uncertainty of the outcome, says Zambia Development Agency (ZDA) director general Patrick Chisanga.
Mr Chisanga said in an interview that it was a natural phenomenon everywhere in the world, particularly in Africa, that when elections were close, investors held back because of uncertainties.
He said ZDA anticipated that there would be a slowdown in actualised investment this year.
“The regular performance of the economy will be affected. It is a natural phenomenon everywhere in the world that when elections are about to occur investors tend to hold back because of uncertainties of what would happen.
“That is particularly true here in Africa, so we are anticipating that there will be a slowdown in actualised investment but this does not mean we must stop marketing our country,” he said.
Mr Chisanga said however that the slow investment did not mean ZDA should stop promoting the investment opportunities available in Zambia.
He said the agency would actually need to enhance the process so that investors who had shown tremendous resilience and confidence in the Zambian economy did so.
“We shall continue to sustain the confidence of prospective investors both locally and internationally in the resilience of the Zambian economy.
“We are going to continue right through the year on other platforms that are going to be held to promote Zambia as an investment destination of choice,” he said.
He also said 2016 would be a difficult year for the Zambian economy owing to global economic factors beyond Zambia’s control.