SITUMBEKO MUSOKOTWANE, Zambia’s minister of finance and national planning, has urged investors to establish bases in the country by utilizing Zambia’s changes to the mining taxation structure.
According to Dr. MUSOKOTWANE, the government has changed the mining taxation structure to conform to international standards.
According to the Minister, Zambia is also updating its legal system to make conducting business easier.
He claims that new investments like the US$1.3 billion Nickel Mine in Kalumbila and the recent US$2 billion solar plant obtained by President HAKAINDE HICHILEMA in the United Arab Emirates are examples of favorable results so far.
Dr. MUSOKOTWANE explained the situation in Zambia during a presentation at the 2023 Mining Indaba in Cape Town, South Africa, and said that the goal of the nation during the yearly gathering is to reassure investors that Zambia is still open for business.
He exhorted the investors to think about cooperating with locals as well, such as Dr. SIXTUS MULENGA, who is mining manganese and is searching for investors to expand operations.
Some of the largest mining companies in the world have indicated interest in purchasing Mopani Copper Mines, according to Dr. MUSOKOTWANE.
But he urged those who weren’t chosen to keep trying and look at other investment opportunities in Zambia.
Dr. MUSOKOTWANE also advised investors to use the nation’s electricity shortage to build sustainable energy facilities like solar plants.