UAE Eyes Strategic Partnership with Zambia to Boost Trade and Investment
Michael Joseph Staford, Chief Financial Officer at Rafmol Gold in the United Arab Emirates (UAE), has emphasized the UAE’s keen interest in collaborating with the Zambian government to drive investments that directly benefit the Zambian people.
Speaking at a cocktail dinner held in Livingstone for the UAE delegation, Staford praised Zambia’s abundant natural resources and its strategic position as a central trade hub in Africa. He noted that Zambia’s connectivity to eight neighboring countries and its expanding infrastructure network make it an ideal partner for international trade and investment.
Highlighting the UAE’s reliance on precious metals, Staford revealed that the UAE imports over $40 billion worth of these resources annually, with 60% sourced from Africa. Of this, Zambia contributes approximately $1 billion each year, underscoring its vital role in the global supply chain.
Tourism Minister Rodney Sikumba expressed gratitude to the UAE investors for recognizing Zambia as a prime destination for investment. He reassured them of the government’s commitment to fostering an environment that ensures mutual returns and long-term partnerships.
Southern Province Minister Credo Nanjuwa echoed these sentiments, emphasizing that the influx of foreign investment would create jobs and unlock economic opportunities for local communities.
The collaboration between Zambia and the UAE holds promise for driving sustainable growth and maximizing the benefits of Zambia’s natural wealth for its people.
