Minister of Finance and National Planning Dr. Situmbeko Musokotwane has urged Europe to support Africa’s drive to add value to its minerals, saying it will boost economic development across the continent.
Speaking during the Hamburg Sustainability Conference in Germany, Dr. Musokotwane said fears from Europe that Africa’s value addition efforts may lead to job losses overseas are unfounded. He stressed that the initiative is aimed at enabling African countries to derive greater benefits from their natural resources.
“Europe should not be afraid of this agenda—it is about creating prosperity in Africa,” Dr. Musokotwane stated.
He said Africa’s goal is not to harm international partners, but to increase its revenue and reduce dependency on raw exports.
Dr. Musokotwane also touched on Zambia’s energy reforms, saying the country has seen increased investment in solar energy due to the government’s forward-looking policies.
He noted that Zambia is now well-positioned to export surplus power, which will generate additional income and contribute to national development.
The minister called for global cooperation in supporting sustainable development strategies that empower African nations to maximize the value of their natural assets.
