Zambia and Regional Partners Urged to Implement Growth-Stimulating Policies for Economic Expansion
Economic experts are calling on Zambia and its regional neighbors to adopt proactive growth-stimulating policies aimed at driving real GDP growth and enhancing regional economic integration.
According to economic analyst Kelvin Chisanga, the region’s strong market potential can only be realized through strategic policy formulation, integration, and implementation that addresses key production growth fundamentals.
Mr. Chisanga emphasized that governments must anchor their economic strategies on primary sector input factors and related economic interests, particularly those that nurture raw materials within the regional market.
He highlighted the need for both private and public sector stakeholders to focus on regional integration as a vital economic avenue. This integration should aim to tap into diverse trade and investment opportunities, thereby promoting a non-traditional export base that balances import cover across the region.
To stimulate growth, Mr. Chisanga urged policymakers to tailor specific policies for the Small and Medium Enterprises (SME) sector, recognizing its critical role in diversifying economies away from traditional sectors like mining.
For Zambia, shifting towards an agriculture-driven economy will require supportive policy frameworks and the right instruments to maximize the available resource base.
Mr. Chisanga also suggested that the Zambian government, through the Industrial Development Corporation (IDC), should consider establishing an “economic engine accelerator” in partnership with the private sector.
This initiative would leverage bilateral partnerships to explore economic opportunities across sub-Saharan Africa. He noted that by fostering industrialization policy exchanges, trade, and investment opportunities, this approach could facilitate high-impact trade-finance integrations, with a focus on rapidly growing markets such as the Democratic Republic of Congo, Kenya, Rwanda, Tanzania, Angola, and Malawi.
