LUSAKA: World Bank (WB) says Zambia has witnessed a steady increase in the number of companies that are exporting various products. Over a decade ago, there were only 232 firms, increasing to about 1,700 in 2011, which has helped increase the income levels for businesses in Zambia.
WB poverty economist for Zambia Alejandro De la Fuente said noticeable growth in non-agricultural employment, particularly in construction, transport, storage, wholesale and retail has equally recorded growth. This is contained in a WB latest brief titled ‘Zambia Poverty and Inequality’ availed to the Daily Mail recently.
“Data from export transactions over more than a decade, put together as part of a recent economic brief, show a large increase in the number of exporting firms and in products exported to neighbouring countries. The number of exporting firms increased from 232 in 1999 to 1,754 in 2011 (WB; 2014),” he said.
Mr De la Fuente said the country’s strategy to completely diversify from copper dependence is helping in the creation of better conditions for inclusive growth.
“Zambia has made gains in reducing some deprivations and increasing opportunities on average. However, gaps remain in accessing key assets and services [like rates to water, sanitation and electricity] and opportunities such as health, nutrition and education across income groups and urban-rural areas…,” he said.
Mr De la Fuente said Zambia needs to continue investing in infrastructure and social sectors to build human capital for the poor to further reduce poverty.
He said the implementation of programmes such as the cash transfer which provide regular cash payments to poor households, among others, are helping in reducing poverty. Mr De la Fuente cited sectors such as energy and infrastructure as areas that could address challenges and help empower rural communities, thereby boosting their participation in economic development.
