CHAMBWA MOONGA
Lusaka
AFRICAN Development Bank (AfDB) Zambian presidential candidate Samuel Maimbo says aid is not the answer to Africa’s economic growth but investments from domestic enterprises.
Speaking during an appearance on ZNBC TV’s Sunday Interview programme, Dr Maimbo said Africa’s most pressing problem is lack of enough economic growth.
“It all starts from growth,” he said.
“If your economy is not growing, you can be doing well in so many different sectors [but] your sources of financing will remain limited.
“Aid is not the answer to growth.
Growth comes from enterprises within a country thriving,” he said.
Dr Maimbo said he has a special attachment to domestic private sector because of their localised nature.
“They will re-invest at a higher rate than any foreign firm that comes in,” he said.
“I do want foreign investment because it comes with capital and intellectual skill that we need. But we must invest in our domestic private sector so that we can achieve growth.”
Dr Maimbo is coming up against Abbas Mahamat Tolli (Chad), Rabah Arezki (Algeria), Amadou Hott (Senegal), Albert Zeufack (Cameroon), Bajabulile Swazi Tshabalala (South Africa), Romuald Wadagni (Benin) and Ousmane Kane (Mauritania)…https://enews.daily-mail.co.zm/welcome/home
