The Ministry of works and Supply says economic development in Africa has been compromised by the debt burden which is at about 57 percent on average for most African countries as of 2017.
Works and supply Minister Felix Mutati says infrastructure investment such as transport and energy remains crucial for the competitiveness of Africa but with 20 percent of the domestic revenue going towards servicing interests, the challenge still remains.
He has therefore told Italian investors not to be shy in investing in Africa as the continent still remains a goldmine with opportunities for the highest returns that the Italian business community deserves.
Ministry Public relations officer Ndubi Mvula says in a statement that the Minister said this during the opening of the Italy-Africa Conference held in Rome as he led the Zambian delegation.