UAE Investors Eye Zambia’s Natural Resources and Trade Potential
Michael Joseph Staford, Chief Financial Officer at Rafmol Gold in the United Arab Emirates (UAE), has expressed the UAE’s interest in collaborating with the Zambian government to invest in Zambia for the benefit of its people.
Staford highlighted Zambia’s abundant natural resources, which he believes should directly benefit the Zambian population. He also emphasized Zambia’s strategic position as a central trade hub in Africa, connecting eight countries and boasting a growing network.
He noted that the UAE imports over $40 billion in precious metals annually, with 60% coming from Africa, and Zambia contributes approximately $1 billion of that total each year.
Staford made these remarks during a cocktail dinner in Livingstone, hosted for the UAE delegation.
Tourism Minister Rodney Sikumba thanked UAE investors for choosing Zambia as a prime investment destination, assuring them that the current government will ensure returns on their investments.
Southern Province Minister Credo Nanjuwa also welcomed the foreign investments, noting that they would create jobs and economic opportunities for the local population.
