By Segun Adekoye
Zambia may be Africa’s most investor-friendly country as Indian multi-national company, Nava Bharat Venture Limited recently rated.
This rating was said to have been based on country’s political stability and suitable economic fundamentals that guarantee protection of foreign investment.
The rating company, Nava Bharat Ventures has been in Zambia for three years with an investment injection of US$750 million into coal mining in Maamba in Southern Province.
Nava’s vice-president, A.S.N Murthy described Zambia as a country that met investment variables in all aspects. He said this at a seminar on ‘Doing Business with African Countries’ in India. The ‘Doing Business with African Countries’ seminar in which Ethiopia and Mozambique also participated was an interactive session with Indian business executives to inspire confidence in them to invest in Africa.
The seminar focused on investment opportunities in agriculture and was organised by the Confederation of Indian Industries (CII). At the same seminar, High Commissioner to India, Susan Sikaneta in her presentation highlighted Zambia’s investment climate, opportunities and incentives. Ms Sikaneta particularly singled out agriculture as one sector with much potential for investment.
She noted that Zambia had a large expanse of land and huge water reservoirs that presented opportunities for investment in agriculture, including agro-processing and animal husbandry.