Egyptians seek investment prospects in Zambia

Written by on March 21, 2019



A DELEGATION of Egyptian investors has arrived in Zambia to explore investment opportunities in various sectors of the economy.

The 35 member delegation led by Chairman of the African Cooperation Committee of the Federation of Egyptian Industries Sherif El Gabaly has already met President Edgar Lungu at State House to express their interest to invest in the Zambian economy.

President Lungu said Zambia was open for investment from stakeholders within the African continent and beyond.

The President said it was impressive that Zambia continued to receive potential investors from fellow Africans, as that encouraged more investors from within the continent to come through.

He said that it was important for countries that were not yet industrialized to look to countries whose economies were doing well, such as Egypt.

Zambia was more than ready to accommodate investments from anyone willing to invest in any sector, as the country had abundant land resources and water to enable investment..

And Egyptian Ambassador to Zambia Ahmed Mustafa said the business delegation was in Zambia to seek economic cooperation with their fellow businessmen and women.

Mr Mustafa said Egypt had brought the biggest business delegation to Zambia because of the investment potential that the latter was endowed with.

He said Zambia attracted a lot of business investment from both Africans and other investors beyond the continent, hence his government’s decision to send a delegation to Lusaka.

And Delegation leader Sherif El Gabaly said that the delegation which was under the Federation of Egyptian Industries hasd19 chambers specialized in different sectors of the industries.

Dr Gabaly said the delegation had representation from sectors such as food processing, food packaging, pharmaceuticals, engineering and chemical industries, among others.

He said the Zambian and Egyptian business persons would have a chance to interact and share knowledge during the business forum which he said would also help them know more about Zambia.

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