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PricewaterhouseCoopers (PWC) Senior Partner, Andrew Chibuye, has alerted American investors not to delay investing in country as many other investors were interested in Zambia.
Chibuye described Zambia “as an opportunity train that American investors need to jump on now before it is too late.”
At a business lunch themed Zambia’s Economic Revitalisation and Investment graced by President Hakainde Hichilema that hosted a United States delegation recently in Lusaka, Chibuye likened Zambia to an undervalued stock on Wall Street.
“Jump on board now and realise significant dividends. You can come and do business and not be disrupted with unrest. This is something that Zambia does not get enough credit for,” he said.
Read more: US, China hold local talks in Zambia over country’s economy, debt crisis
Chibuye also acknowledged that most macroeconomic variables were volatile as seen by the sliding inflation and exchange rates.
He however attributed the development to the country’s debt posture.
Zambia’s debt restructure continues to follow a G20 common framework that has turned out very complex with creditor inertia in accepting terms prescribed by the framework.
Meanwhile, Chibuye echoed Zambia’s democracy wins citing seven Presidents over four political transitions with 2021 being a pivotal junction for the red metal producer that saw the ascension to power of Hakainde Hichilema, then opposition party leader.
“As you sit in New York to assess political risk, Zambia has transitioned peacefully with seven Presidents. The apex of political risk is a government shift,” he reiterated.
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