Despite the distance and regional blocks, Kenya and Zambia still see the need to tap into each other’s economies for potential investments.
Zambia and Kenya an East African country have continued working on strengthening bilateral ties with the successful hosting of the 2nd Zambia-Kenya Business Forum in Lusaka. The forum held on December 12, 2011 at the Kenyan Embassy and running under the theme “Exploring the untapped potential in the service industry in Kenya and Zambia,” attracted players from various sectors of the economy especially in the service industries from the two countries.
The Kenyan government through its Minister of Information Samuel Poghisio highlighted the vital role that Information Communication Technology (ICT) plays in economic development. Mr. Poghisio revealed that the continent has over the years recorded tremendous development in this sector as evidenced with the laying of optic fibre cables cross cutting the continent. He has however cautioned African nations to exercise care in receiving donations of ICT nature which might be detrimental on the economy.
“It is very clear from the beginning to demand the best in technology and there are many places to benchmark with not to accept technology just because it is being pushed by some one as a donation, technology does not have to be a donation because it can be very dangerous for us,” said Mr. Poghisio.
The Minister further appealed for linkages among African nations in order to foster economic development.
“We have had close relations between Africa and the US, Africa and Europe, Africa and Asia, but what we need is good bilateral relations among African nations,” he added.
And officiating at the occasion Commerce, Trade and Industry Deputy Minister Keith Mukata lamented unbalanced trade between the two countries despite being members of the same regional group.
“You may wish to know that Kenya’s exports to Zambia were at US$ 35million in 2010 and Zambia’s exports to Kenya in 2010 were US$ 33million,” he said.
“These figures are not impressive especially that both Zambia and Kenya are members of the COMESA Free Trade Area.”
Mr. Mukata says notes that Zambia has massive investment opportunities in sectors like health, education, banking and communication adding that platforms like the Business Forum are valuable for networking.
“In this way we shall be able to reap the full benefits of Trade and Investment, create jobs and foster economic growth and development,” said Mr. Mukata.
The business forum has seen business gurus from Kenya represnting various service delivery sectors such as health, education, manufacturing and retail among others coming through seeking prospective investment opportunities in Zambia.
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