Lusaka, Zambia, 14 July 2022 (ECA) - The United Nations-Under-Secretary-General (USG) and Economic Commission for Africa Executive Secretary(ES) ended a successful four-day visit to Zambia and met with the President of the Republic of Zambia, Minister of Finance and National Planning, Governor of the Bank of Zambia and delivered a public lecture to students and academics at the margins of the African Union 41st Ordinary Session of Executive Council and 4th Mid-Year Coordination Meeting that took place from 14th to 17th July 2022 in Lusaka.
The meeting organized under the theme, “Building Resilience in Nutrition and Food Security across the African Continent,” brought together thirteen Heads of State and Government, comprising five Heads of State that form the current Bureau of the Assembly of the African Union (AU), and eight Heads of State who Chair the Regional Economic Communities that are recognized by the AU. The Summit closed with concrete decisions presented by the AU Chairperson, the Senegalese President Macky Sall, who said Africa needs pharmaceutical sovereignty, access to commercial platforms for trade and regional integration to accelerate social and economic development. The USG assured member States of the Economic Commission for Africa (ECA)’s continued support and advocacy for debt sustainability in Africa and for a fair and equitable global financial architecture.
Dr. Vera Songwe together with Professor Benedict Oramah, President of Afreximbank and their respective teams including the UN Resident Coordinator in Zambia, Beatrice Mutali, met with the Zambian President Hakainde Hichilema to discuss the implementation of the Zambia and the Democratic Republic of Congo battery value chain initiative, whose Cooperation Framework was already signed by Heads of States of the two countries in May, 2022. The delegation appraised the President on the progress thus far and the proposed roadmap on the initiative.
President Hichilema assured the UNECA and AfreximBank Chiefs, of Zambia’s continued commitment to the Initiative as it supports Governments priorities towards job creation and accelerated growth through value addition and trade. “As Zambian government, we are determined to create jobs and business opportunities for our people. Time of the essence. This initiative not only responds to the urgent need of job creation, but it also responds to the much-needed diversification of our economy while preserving the environment through the electric vehicle industry”.
The USG also met with the Bank of Zambia Governor, Denny Kalyalya to discuss liquidity and debt sustainability issues in Zambia, including exploring the possibility of accessing new Special Drawing Rights (SDRs), extension of the Debt Service Suspension Initiative (DSSI) and ensuring a well-crafted debt restructuring and management framework. She noted that, “this Common Framework should go beyond the Paris Club creditors and include China and other bond holders. Thus, ensuring equitable representation at the table is key to successful negotiations and outcomes for Zambia”.
In his address to the Zambian media after a closed session with the UNECA Executive Secretary, Bank of Zambia Governor Dr. Kalyalya, said, “Vera Songwe is a very strong advocate for Zambia and Africa whose voice to SDRs, DSSI and the need for change in the global financial architecture, is deeply appreciated. She is keen to see Zambia conclude on its debt restructuring efforts and succeed through the Common Framework.
The USG also took time to meet staff from the ECA Sub-Regional office for Southern Africa and discussed issues around work programs for the office, staff welfare and emphasized the need for achieving results in responding to the needs of countries in the sub-region within the mandate of the office. She underscored the need for work-life-Balance and also urged staff to get vaccinated and continue observing Covid19 protocols.
Issued by:
The Sub-Regional Office for Southern Africa
UN Economic Commission for Africa (ECA)
P.O. Box 30647, Lusaka, Zambia.
Media Contacts:
Ms. Lavender Degre,
Communication Officer,
Tel: +260 211 228502/5 Ext. 21307
DL: +260 211 376607
Email: lavender.degre@un.org