Zambia, other countries urged to speed up efforts to create sustainable economies

Zambia and other countries in Africa have been encouraged to accelerate the move to a circular economy, away from a linear economy in an effort to protect the environment.

European Green Deal, Rural Development and Trade counsellor, Mattias Reusing, said the importance of a circular economy could not be overemphasised looking at the challenges being faced such as Covid-19, climate change and depleting natural resources among others.

A circular economy entails using waste that is generated from various economic activities and feeding it into the next production line. As such, nothing really leaves the economy.

While linear is an economy in which finite resources are extracted to make products that are used – generally not to their full potential – and then thrown away.

“Some people think we can move to another planet such as mars but I think most of us cannot buy a one way ticked to there [mars]. This is because there is no plan B we just have to fix our planet earth.

“Therefore, a circular economy matters because it uses and recycles resources compared to a linear which is the opposite,” he said at the 16th COMESA business forum in Lusaka on Wednesday.

The forum was held under the theme economic integration for a thriving COMESA anchored on green investment, value addition and tourism.

Reusing said with the continued growth in population, waste would continue to accumulate and the environment being damaged hence the need to accelerate the implementation of a circular economy to fix the planet.

“If we act now we can save a lot and member states need to share ideas and exchange notes on the topic. To transition to circular economy there is need to look into policies as well.

“For this to be achieved there is need for more banks and private sector to come on board to help with funding. Public funding will not be enough and in a circular economy everyone has a role to play,” he said.

Meanwhile, Zambia Development Agency Director, Albert Halwampa, called on investors to take advantage of a conducive business environment in the country to invest in various sectors.

Halwampa said the country had a stable micro-economic fundamentals and political environment which assures investors of a return on their investments.

He cited opportunities in the mining, tourism, agriculture, manufacturing and infrastructure sectors, among others.

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