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AFDB pledges support for Zambia’s domestic resource mobilisation 

…says Zambia’s debt restructuring process needs to reach a conclusive resolution as hope delayed is hope denied - AfDB president, Akinwumi Adesina

By VITA BANDA

AFRICAN Development Bank (AfDB) president, Akinwumi Adesina has pledged support for Zambian initiatives aimed at enhancing domestic resource mobilization.

The support will also cover improving tax administration, infrastructure development, and support to the private sector. 

Speaking at the 2023 Annual meeting of the bank in Egypt, Dr Adesina also said Africa needed a continentwide financial stability mechanism to help member states to cope with economic shocks when they arise.

 Dr. Adesina reiterated calls previously made at other fora that parties to Zambia’s debt restructuring process need to reach a conclusive resolution because hope delayed is hope denied.

He further said President Hakainde Hichilema was one of the vision carriers for Africa’s agriculture renaissance and food security.

Meanwhile, Dr Adesina encouraged the Zambian delegation to the upcoming Forum in Morocco to ensure that appropriate promotional and marketing packages are prepared in readiness for engagement with prospective investors and project promoters.

“In Senegal, President Hichilema spoke from the heart about scaling-up agriculture productivity in Africa. His passion for the sector makes Zambia one of Africa’s carriers of hope for food security. We can do a lot together to transform agriculture in Zambia through establishment of special agriculture processing zones,” he said.

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