By Angela Moonga
World Band and IMF financing cannot independently meet the investment needs of developing nations, says Finance minister Dr Situmbeko Musokotwane.
According to the Ministry of Finance and National Planning, Dr Musokotwane said that the World Bank had pledged to support Zambia’s 2027 fiscal programme as the government intensifies efforts to mobilise private investment, expand agriculture and mineral production and create employment following the 2026 IMF and World Bank annual meetings.
Musokotwane said the meetings reinforced a central development challenge arising from the fact that the IMF and WB financing, although important, could not independently meet the investment needs of developing economies.
He said Zambia would therefore strengthen partnerships that mobilise private capital alongside public resources in like with Hichilema’s growth agenda.
He said international partnerships must produce investments that expand output, exports, business and jobs.
He said achieving one million metric tonnes of sugar, three million metric tonnes of soybeans and 10 million metric tonnes of maize would require roads, irrigation, electricity and other infrastructures that enable farmers, processors, and transporters to participate in expanding value chains.
He mentioned the other government targets as 10,000 megawatts of electricity, five million tourist arrivals, 3 million tonnes of copper, one million tonnes of wheat and US$1 billion in beef exports.
He said he expected the national aerial geological survey and related exploration initiates to translate into commercial viable projects, mineral processing, local enterprise participation and employment rather that geological information alone.
Musokotwane said workforce competence was critical to industrial expansion.
He said free education and CDF funded training had broadened opportunities, but technical instruction must increasingly equip young people with practical skills in engineering, mechanics, electrical work, mining and other occupations demanded by industry.
And Bank of Zambia Governor Dr Denny Kalyalya called for a national shift towards enterprise, coordinated implementation and measurable results.
He said Zambia had substantial mineral wealth, water, agriculture and land and a youthful population but those advantages would yield limited benefits without investment, relevant skills and a commitment to delivery.
He urged citizens to identify opportunities and contribute to national development objectives.
He said predictable policies, economic stability and stronger public private partnerships were essential for mobilising finance beyond what public budgets alone could provide.
He also highlighted the importance of productive employment for young people and well managed urban infrastructure in stimulating commerce, logistics and services.
