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THE Private Sector Development Association (PSDA) has urged local entrepreneurs to tap into existing opportunities within the Zambian economy by investing in sectors like manufacturing for increased production.
PSDA chairperson Yusuf Dodia said that the private sector should take advantage of the current economic changes by investing in zones where demand has exceeded supply resulting into high commodity prices.
Mr Dodia cited a current scenario on the Zambian market where prices of cement have increased due to excessive demand for the commodity.
“For instance, it is evident that there is a deficit of producers in the cement industry, thus demand has increased leading into escalating costs.
“Now, if we have foreign private investors like Dangote identifying such a need and investing in Zambia, why can’t the local investors also tap into this industry?” Mr Dodia asked.
“If more players can invest in the production of cooking oil and sugar directly there would be no monopoly in pricing of these products,” he said.
Mr Dodia said financial institutions should invest their capital in the growth of Small and Medium Enterprises (SMEs) as this was a vital contribution to the manufacturing and other sectors.
