Highlights of the remarks by his Excellency President Hakainde Hichilema at the opening session of the Partnership for Global Infrastructure and Investment Lobito Corridor Private Sector Investment Forum Below are the highlights.

✅ The President commended partners such as the European Union, the United States of America, Africa Development Bank, African Finance Cooperation including the technocrats among others for their efforts in advancing the Lobito Corridor project thus far.

✅ He highlighted the importance of recognizing the business opportunities that will be brought about through this corridor.

✅ He emphasized how crucial it is to understand the commercial prospects the Lobito corridor will provide.

✅ The President expressed gratitude to Congo DR and Angola for enabling Zambia to participate fairly in the Lobito Corridor.

✅ He indicated that allowing trade among participating nations will prompt modernity in society.

✅ He stressed that the Lobito Corridor project is a once-in-a-generation endeavor that requires backing and acceleration.

✅ In order to complete the Lobito Corridor project, President Hichilema stated that Zambia, Angola, and the Congo Democratic Republic should be prepared to tie themselves, sign whatever documents are required, and raise money.

✅ The President stated that the Lobito Corridor is not a project involving the writing of memos but that the three nations will rely on their Ministries and technocrats to complete the work.

✅ He further stated that the government will endeavor to establish a framework for coordination based on the development of a common action checklist with deadlines and action points rather than memos.

✅ The Lobito Corridor will pass through a lot of assets that can help the three countries mitigate climate change.

✅ When pricing capital, discrimination against Africa occurs. Funding for the Lobito Corridor project should be provided at a reasonable cost, and this can include:

1. The best technology should be applied.

2. Joint Ventures that will lead to vested interests.

3. Working with partners to move away from what can be done without resources being wasted.

4. Value Addition

✅ He has since urged private, public and capital providers to be specific on the opportunities this Corridor will bring to the three countries.


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