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Value addition key to diversification-Lungu

President Edgar Lungu says value addition is key to diversifying the economy and for creation of quality Jobs.

President Lungu says value addition to minerals is one of the strategies outlined in the seventh National Development Plan (7NDP).

President Lungu said this in Lusaka today when he graced the celebration of Jewel of Africa 25 years of its existence.

The Head of State said the increase in expansion of the industry and adding value to the minerals in the country will ensure growth in the sector.

He said the mining sector, large or small is a viable business venture in the country because it is a resource which is abundant.

President Lungu urged Zambians to show off its mineral wealth that the country is endowed with, as the sector has lagged behind.

He has since commended Jewel of Africa for its achievement and encouraged other business ventures to succeed and that more companies should emulate the firm.

Speaking earlier Minister of Commerce, Trade and Industry, Christopher Yaluma said it is good that Jewel of Africa uses locally sourced materials.

Mr. Yaluma said he is impressed with the company for adding value to the rich mineral wealth that the country is blessed with.

He said this will in turn create a ripple effect in the economy and create meaningful jobs for the local population.

Mr. Yaluma also encouraged the local industries to tap into the mining sector so that it may achieve its full potential.

Meanwhile, Minister of Mines and Mineral Development Richard Musukwa said there is need to protect the industry in order to support the economy.

Mr. Musukwa stated that the mining sector requires huge and massive infrastructure development that can support the development of the industry.

He stressed that Jewel of Africa has led the way and created a path that will ensure many players are involved in adding value to the mining sector.

And Jewel of Africa Managing Director Raj Sharma said it has not been an easy journey to reach where the company is today.

Dr. Sharma explained tha he is happy with the favorable economic policies that has helped them in doing business and eventually growing the business.

Source: Lusaka Times

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