ZANACO HAPPY WITH CHINESE INVESTMENT

ZANACO Bank Chief Executive Officer Mukwandi Chibesakunda says the strong partnership between Chinese companies and Zambian entities have fostered economic development and enhanced trade relations.

Speaking at the Chinese client engagement in Lusaka, Ms. Chibesakunda disclosed that figures from the Chinese Embassy in Lusaka indicate that Zambia exports to China amounted to US$4.39 billion while China’s exports to Zambia amounted to US$1 billion as of October 2023.

ZANIS reports that Ms. Chibesakunda explained that the trade investment between the two countries span various sectors such as mining, construction, agriculture and manufacturing.

She added that Chinese investments and businesses play a vital role in the Zambian economy, contributing significantly to growth, job creation and infrastructure development.

“These investments have created employment opportunities, transfer of skills and technology contributing to the overall development of Zambia’s infrastructure and economy,” she said.