Zambia is a nation on the brink of transformative economic growth and development. International Business Review had an exclusive interview with H.E. Charles Milupi, Zambia’s Minister of Infrastructure, Housing, and Urban Development, who sheds light on Zambia’s ambitious path towards development through international collaboration.
Minister Milupi, an experienced businessman and politician, envisions a Zambia where development is not just a concept but a tangible reality. Since entering politics in 2006 with the United Party for National Development (UPND), Milupi has played a key role in shaping economic policies focused on growth and inclusivity. The 2023 National Budget of Zambia, themed ‘Reinforcing the Foundation for Inclusive Growth and Development,’ reflects this vision, with a projected GDP growth of 4.2 percent for 2023.
Zambia’s wealth in natural resources positions it uniquely on the global stage. It ranks second worldwide in mining potential and fourth in Africa for agricultural potential. The country is poised to harness these sectors for economic uplift. Milupi envisions double-digit economic growth to enhance the living standards of the Zambian people.
The government’s strategy for growth is multifaceted, focusing on mining, agriculture, tourism, and services. Milupi highlights the importance of infrastructure in facilitating this growth, especially in ensuring seamless trade with Zambia’s neighbours. He notes that Zambia’s membership in the Common Market for Eastern and Southern Africa (COMESA), with a combined population of about 600 million, underscores the need for establishing strong regional connectivity.
Addressing financial strategies for infrastructure development, Milupi explains that Zambia is engaging in Public-Private Partnerships (PPPs) rather than relying on loans. With 10 PPP negotiations either concluded or nearing completion, these partnerships exemplify Zambia’s approach to financing its development agenda.
Milupi welcomes investors, emphasising that Zambia is open for mutually-beneficial investment.
“We are a peaceful country with a private sector-driven government that encourages and empowers PPPs. We are also a government of law and structure that protects property and human rights.”
A vast country enjoying political stability thanks to almost 60 years of democracy, Zambia’s young, educated workforce and abundant natural resources, promise exceptionally high investment yields and reduced manufacturing and shipping costs.
Minister Milupi sees much in common between Southeast Asia and Africa. “I call for greater cooperation between Zambia and Southeast Asia. This way we can understand each other better and benefit each other better,” he says. Minister Milupi invites Southeast Asian investors to visit Zambia to explore the opportunities, particularly in sectors like mining, agriculture, tourism, and even healthcare and education.
