Govt woos Finish businesses to invest in circular economy, recycling industry

Government has urged Finish firms to tap into Zambia’s circular economy concept by taking advantage of the huge waste around the country.

Tapping into this area will help transform Zambia to a sustainable economy, says Small and Medium Enterprises Development Minister, Elias Mubanga.

Mubanga said government had been championing the use of clean energy to prevent damage to the environment.

He said at the fifth annual business week in Lusaka on Thursday that Finland had an advanced circular economy, a concept fairly new in Zambia but a number of companies are championing the cause.

“We as a country, have a lot to learn from Finnish companies in this aspect. I urge small and medium entrepreneurs (SMEs) in Zambia to partner with Finnish companies that have developed models that ensure that they do not put waste into the environment, but use it into the next production line,” he said.

Mubanga also encouraged the Accelerated Growth for SMEs in Zambia (AGS) to continue working with local companies in the sector to ensure that the country adopted the circular economy concept.

He said this would help create employment among the citizens and contribute to the development of the country.

On the Finland business week, Mubanga said it had the potential to increase business relations between companies from both countries.

He said this was key as it was a driver for economic development which was in line with the vision of government.

“This is encouraging especially that most of such partnerships were done with Zambian based companies .It is therefore, my humble conviction that much more shall be achieved this year,” Mubanga said.

This year’s business week is focused on circular economy, renewable energy, green transition and related education solutions.

Earlier, Finland ambassador to Zambia Saana Halinen said the business week strengthened the relationship between the two countries and since inception over 100 companies had participated and several memorandum of understanding had been signed.

Halinen said the relationship offered opportunities for Zambia to tap into circular economy concept which was urgently needed in view of the continued effects of climate change on the country.

She said there was need to work together to transition to a greener economy.

“We are ready to help Zambia build a resilient economy through the adoption of a circular economy .Zambia has a lot of opportunities to tap into this concept,” she said.

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