Zambian President, Rupiah Banda urged his countrymen to invest in local businesses, in order to boost the country’s economy, and encourage foreign investment.
President Banda made the comments at the opening of manufacturing plant for mobile handsets. M Mobile Telecommunications, a wholly owned Zambian company, invested US$10 million in the new plant. Banda said: “This is what Zambians should be doing to attract foreign investors. Zambians should themselves lead the way by investing in their country,”
The president also said that the new investment would lead the way to earning much needed foreign currency, as well as supply mobile handsets for the local Zambian market.
The plant, situated in Lusaka, will also employ about 200 local people, including engineers and technicians, and will produce a wide range of handsets from entry-level to state-of-the-art.