Breaking NewsBusiness

Zambian Government Takes Steps to Promote Local Production of Critical Raw Materials and Batteries for Export

The Zambian government is taking steps to establish a legal framework that will promote the production of critical raw materials like cobalt, manganese, and lithium within the country. This initiative aims to encourage local manufacturing of end products, such as batteries, rather than exporting raw materials for processing elsewhere.

In a statement released by Lubinda Kashewe, First Secretary Press in Berlin, Germany, Solicitor General Marshal Muchende SC shared crucial information at the conclusion of his delegation’s visit to Germany. He stressed the significance of establishing a favorable environment for industries to extract raw materials in Zambia and locally manufacture batteries for export. 

Mr. Muchende highlighted the cost-effectiveness of adding value to raw materials at their source, making it advantageous for manufacturers to produce finished products in the same location where the raw materials are extracted.

During their visit to Germany, the delegation sought to identify laws and best practices that could strengthen the legal framework and attract investment to Zambia. They found the needed support in Germany, which offers the practices Zambia is looking to emulate.

Mr. Muchende stressed that a suitable legal framework is essential for business growth and investment. He emphasized the importance of efficient public service delivery that reduces bureaucracy, shortens the processing time for paperwork, and lowers the cost of doing business, factors that investors greatly value.

The government is actively working to enhance the legal framework and remove bureaucratic obstacles to investment. Their goal, under the leadership of President Hakainde Hichilema, is to create an environment that fosters investment and business growth, ultimately benefitting the Zambian economy.

Leave a Reply

Your email address will not be published. Required fields are marked *