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Finance and National Planning Minister, Situmbeko Musokotwane, has set a clear agenda at the International Monetary Fund (IMF) and World Bank Group meetings, aiming to aggressively promote Public-Private Partnerships (PPPs) across key sectors of Zambia’s economy.
Musokotwane, alongside his delegation, are expected to deepen engagement with development partners, investors, and the international community to explore opportunities that hold the greatest potential for sustaining Zambia’s economic growth.
In a statement issued on Monday, the Minister stated that Zambia’s ongoing efforts to enhance economic resilience through investments in mining, agriculture, tourism, and manufacturing, while scaling up social sector spending.
He said infrastructure development via PPPs would also be a top priority.
“Through structured interactions, we aim to deepen engagement with development partners and investors to unlock opportunities that will place Zambia on a strong path of economic recovery, transformation and inclusive growth,” Musokotwane said.
He highlighted the unique challenges posed by the recent drought, urging Zambians to come together to build a more resilient and prosperous nation.
“We need to capitalise on our strengths and seek impactful global partnerships that will help consolidate positive turnarounds,” he added.
The Minister reiterated the government’s commitment to providing economic opportunities for citizens while ensuring that future generations were not burdened with unsustainable debt.
Meanwhile, Finance and National Planning Minister, Situmbeko Musokotwane, is actively rallying international support for Samuel Maimbo, Zambia’s candidate for the African Development Bank (AfDB) presidency, at the ongoing International Monetary Fund (IMF) annual meeting in Washington, D.C.
In an interview with international media during the meeting, Musokotwane underscored Maimbo’s extensive experience in resource mobilisation, which he gained during his tenure at the World Bank.
He emphasized that Maimbo’s leadership could significantly enhance the AfDB’s capacity to secure financing for African countries.
“Dr. Maimbo’s candidacy is not only supported by Zambia but is also the sole nominee for the Southern African Development Community (SADC).
“He has risen through the ranks at the World Bank, becoming Vice President. He has proven his competence, leading efforts in mobilising International Development Association (IDA) funds.
“His leadership at AfDB would benefit the continent immensely,” Musokotwane said.
The Southern African Development Community (SADC) Heads of State endorsed Maimbo during the 44th Summit held in Zimbabwe on August 17, 2024, nominating him as the region’s sole candidate for the AfDB presidency.
Musokotwane stressed that Maimbo’s candidacy was not solely based on his Zambian nationality, but on his professional qualifications and leadership capabilities demonstrated during his time at the World Bank.
“Dr. Maimbo is not just a Zambian candidate; he is highly qualified, with broad support from World Bank management. His experience in mobilising financial resources and his strategic planning expertise make him the ideal candidate to lead the AfDB,” Musokotwane added.
Maimbo currently serves as the Vice President for Budget, Performance Review, and Strategic Planning at the World Bank Group.
His nomination follows a rigorous selection process in which seven candidates from Angola, Botswana, Malawi, Mozambique, South Africa, Tanzania, and Zambia were interviewed.
Maimbo ranked first, with South Africa’s Bajabulile Swazi Tshabalala coming in second.
The election for the AfDB presidency will take place in May 2025, and Maimbo’s bid is expected to gain further momentum as Zambia and SADC continue their diplomatic efforts to secure widespread support.
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