Zambia Signs Mining Exploration Deal With UAE
On Friday, Zambia officially entered into two Memoranda of Understanding with the United Arab Emirates, focusing on the collaborative exploration of mineral resources and the augmentation of assistance to Small and Medium Enterprises (SMEs) in both nations. The signing ceremony occurred at State House, with President Hakainde Hichilema and the visiting Minister of State for Foreign Affairs of the United Arab Emirates, Sheikh Shakboot AL Nahyan.
Minister of Small and Medium Enterprise Elias Mubanga signed the 15 million United States dollars Khalifa Fund for SMEs, whilst Minister of Mines Paul Kabuswe signed the MoU on mineral exploration.
President Hichilema encouraged the rapid implementation of the agreements, declaring that the Zambian government is keen to rebuild the economy and improve the nation’s social services for Zambian citizens.
In a Facebook statement, Hichilema wrote, “Our goal is to learn from the UAE's economic miracle and how they navigated their experiences from the past to achieve their formidable success. We are determined to expedite our progress and leverage these experiences for the betterment of our people.”
He also stated that Zambia is strongly interested in collaborating with the UAE. This cooperation focuses on acquiring insights from the UAE's successful endeavours in achieving national development by utilising their natural resource reserves.
The Head of State emphasised that technology plays a pivotal role in the government's transformation agenda and is instrumental in propelling the country's development. Additionally, he highlighted the UAE's significant role as a crucial partner in this initiative.
Furthermore, Al Nahyan expressed the UAE's intention to bolster its ties with Zambia by fostering collaboration across various sectors. This enterprise aims to deepen the existing relationship between the two nations.
Al Nahyan expressed his gratitude for the hospitality of Zambia during his stay and confirmed the UAE’s eagerness to increase the strength between the two nations.
Elias Mubanga, the Zambian Minister of Small and Medium Enterprise Development, said that the injection of $15 million from the KHALIFA Fund will significantly enhance the operational capabilities of SMEs, with a particular focus on empowering small-scale farmers.
Likewise, Mines and Minerals Development Minister Paul Kabuswe noted that the minerals exploration MoU agreements with the UAE will assist in reforming the operations of his ministry to increase productivity and efficiency.