Wednesday 14th April 2021 Taj Pamodzi Hotel Lusaka of the Launch event of the latest Joint Report between Zambia Breweries, WWF Zambia and OECD entitled “ Strategic Investment Pathways ; The Zambezi Basin Case Study

– THE ACTING DIRECTOR- ENVIRONMENTAL MANAGEMENT DEPARTMENT- MR RICHARD LUNGU- MINISTRY OF WATER DEVELOPMENT, SANITATION AND ENVIRONMENTAL PROTECTION-
– THE REPRESENTATIVE OF THE PERMANENT SECRETARY- MINISTRY OF LANDS- MR EPHRAIM SHITIMA
– THE DIRECTOR FOR ECONOMIC MANAGEMENT- MINISTRY OF FINANCE – MR MULELE MULELE
– OTHER SENIOR GOVERNMENT OFFICIALS FROM OTHER MINISTRIES PRESENT HERE TODAY
– THE CHIEF EXECUTIVE OFFICER FOR ZAMBIAN BREWERIES- MR JOSE MORANO
– KEY REPRESENTATIVES FROM THE PRIVATE SECTOR
– FELLOW DIRECTORS AND KEY REPRESENTATIVES FROM THE NGO SECTOR
– MEMBERS OF THE PRESS
– DISTINGUISHED INVITED GUESTS
– LADIES AND GENTLEMEN
– ALL PROTOCOL IS OBSERVED
LADIES AND GENTLEMEN:
IT IS WITH GREAT PLEASURE THAT I WELCOME YOU TO THE LAUNCH EVENT OF THE LATEST JOINT REPORT BETWEEN ZAMBIA BREWERIES, WWF ZAMBIA AND OECD ENTITLED “ STRATEGIC INVESTMENT PATHWAYS ; THE ZAMBEZI BASIN CASE STUDY. AS YOU ARE AWARE THE ZAMBEZI BASIN IS ARGUABLY THE MOST IMPORTANT NATURAL ASSET FOR THE COUNTRY AND REGION THAT HAS BEEN DRIVING ECONOMIC DEVELOPMENT FOR MANY YEARS. A SUSTAINABLE ZAMBEZI, MEANS A SUSTAINABLE ECONOMY AND A SUSTAINABLE FUTURE FOR ZAMBIA AND ITS NEIGHBOURS. A DEGRADED AND DECLINING ZAMBEZI IS A THREAT FOR COMMUNITIES AND INDUSTRY ALIKE.
THUS, THIS REPORT WE ARE LAUNCHING TODAY MARKS A VERY SIGNIFICANT MOMENT FOR OUR COUNTRY AS POINTS TO ACTIONS WE MUST TAKE TO SUSTAINABLY MANAGE THIS RESOURCE AND GUIDE FUTURE INVESTMENTS . THIS WILL INCREASE NATIONAL CAPACITY TO VALUE AND FULLY HARNESS OPPORTUNITIES AT SCALE THE BASIN OFFERS, BUT ALSO IDENTIFY THE INVESTMENTS AND ACTIONS NEEDED TO ADDRESS THE RISKS THIS CRUCIAL RESOURCE FACES.
EFFECTIVE AND SUSTAINABLE ACTION REQUIRES A STRATEGIC COLLABORATION BETWEEN GOVERNMENT, PRIVATE SECTOR AND INVESTMENT COMMUNITY TO DIRECT FUNDS AND INVESTMENTS IN A WAY THAT SECURES AND DOESNOT DEPLETE THE RESOURCE. IT REQUIRES PROPER VALUING OF THIS NATURAL ASSET, EFFICIENT USE OF ALLOCATED WATER BY LARGE WATER USERS IN THE PRIVATE SECTOR AND EQUITABLE ALLOCATION OF WATER BETWEEN BUSINESSES AND COMMUNITIES AND BETWEEN COUNTRIES TO MEET THE TO VARIOUS ECONOMIC AND SOCIAL NEEDS OF THE GROWING POPULATION. – ITS ALWAYS A GREAT HONOR TO SHARE A PLATFORM WITH PRIVATE SECTOR WHOSE BUSINESS AND FINANCIAL SUSTAINABILITY DEPEND DIRECTLY ON THE AVAILABILITY OF WATER. THE ABSENCE OF IT OR THREATS TO IT BASICALLY MEANS NO BUSINESS, OR HIGH COSTS OF DOING BUSINESS. THIS TRASLATES TO A BROKEN ECONOMY.
What Covid19 taught us is that we cannot choose economy over health, without paying. Similarly, we cannot acheive sustainable economic recovery decisions, while disregarding environment without paying. ZAMBIA BREWERIES HAS FIGURES THIS OUT, MORE PRIVATE SECTOR AND THE FINANCE COMMUNITY WILL DO THEMSELVES GOOD TO RECOGNISE THE NEGATIVE IMPACT OF ENVIRONMENTAL DEGRADATION AND HOW THEY CAN PARTICIPATE TO PREVENT OR REVERSE NATURES DECLINE WHICH HAS MANIFESTED ITSELF PARTLY VIA CLIMATE CHANGE IMPACTS
THUS THE HEART OF SUSTAINABLE ECONOMIC REFORM AND RECOVERY POST COVID-19, IS A RENEWED COMMITMENT TO RE-DEFINE OUR EXISTING RELATIONSHIP WITH NATURE AND ENSURE THAT ALL ACTORS WITHIN THE ECONOMY BEGIN TO VALUE MORE AND MORE OUR NATURAL CAPITAL. IN THIS CASE THE ZAMBEZI RIVER AND THE ENTIRE BASIN. IT MIGHT MEAN PUTTING A FIGURE ON THE VALUE OF THE RESOURCE, OR CREATING GREEN SUSTAINABLE INVESTMENT PATHWAYS THAT GENERATE GROWTH, JOBS AND SECURES ECOSYSTEMS UPON WHICH THE ECONOMY DEPENDS AND THRIVES
OVER THE YEARS , DUE TO THE GROWING DEMANDS OF OUR NATIONAL DEVELOPMENT, WE HAVE SEEN A GROWING LEVEL AND SCALE OF DEGRADATION IN VARIOUS ECOSYSTEMS INCLUDING PARTS OF THE ZAMBEZI RIVER BASIN, AS A RESULT OUR MOST IMPORTANT WATER CAPITAL IS NOW UNDER THREAT AND MUST BE MANAGED BETTER FOR OUR CONTINUED SUSTAINABILITY OF THE ECONOMY.

DESPITE OUR NATURAL WATER SYSTEMS PLAY A KEY ROLE IN THE SOCIO-ECONOMIC DEVELOPMENT OF ANY COUNTRY. HOWEVER CURRENT INVESTMENT TO OUR WATER RESOURCES REMAINS UNACCEPTABLY LOW, IMPLYING THAT NATURAL SYSTEMS WHILE SUBSIDIZING THE ECONOMY ARE NOT BEING MAINTAIN TO RETAIN THOSE SERVICES IN THE LONG TERM. THATS THE NUMBER 1 RISK THAT BUSINESS AND COMMUNITIES WILL CONTINUE TO FACE TODAY AND IN THE FUTURE IF NOT ADDRESSED DECISIVELY . ENSURING THAT WATER RESOURCES CONTINUE TO CONTRIBUTE TO ZAMBIA’S ECONOMIC, ENVIRONMENTAL, AND SOCIAL DEVELOPMENT WILL REQUIRE SIGNIFICANT INVESTMENT AND PARTNERSHIPS THAN IS PRESENTLY THE CASE. HOW THESE PUBLIC AND PRIVATE INVESTMENTS ARE DESIGNED, SEQUENCED AND FINANCED WILL ABILITY TO ENSURE A SUSTAINABLE ZAMBEZI THAT WILL SECURE ZAMBIA’S DEVELOPMENT OBJECTIVES IN A SUSTAINABLE MANNER OVER A LONG-TERM.
LADIES AND GENTLEMEN:
WHILE THERE IS A STRONG ECONOMIC CASE FOR INVESTMENT IN WATER RESOURCES, THIS DOES NOT ALWAYS TRANSLATE INTO A COMPELLING FINANCIAL CASE IN THE SHORT TERM. BETTER REFLECTING THE VALUE OF WATER CAN ACT AS A DRIVER FOR IMPROVED WATER MANAGEMENT AND STIMULATE FURTHER INVESTMENT. BETTER VALUING OF WATER REQUIRES A RECOGNITION OF THE FULL RANGE OF DIRECT AND INDIRECT BENEFITS AND RISKS ASSOCIATED WITH WATER, WHICH MAY BE CULTURAL, SPIRITUAL, ECONOMIC, ENVIRONMENTAL, OR SOCIAL.
WE ARE ALSO ALIVE TO THE FACT THAT INVESTMENTS IN WATER RESOURCES COMPETE WITH OTHER SECTORS FOR FINANCIERS’ ATTENTION, DRIVEN PRIMARILY BY THE ATTRACTIVENESS OF THE RISK-RETURN PROFILE. THIS DEPENDS ON TWO FACTORS: I) A STABLE REVENUE STREAM; AND II) HOW THE RANGE OF RISKS RELATED TO WATER SECURITY INVESTMENTS ARE SHARED BETWEEN PUBLIC AND PRIVATE ACTORS. INVESTMENTS IN WATER AND SANITATION SERVICES AND WATER RESOURCE MANAGEMENT HAVE HISTORICALLY BEEN FINANCED BY THE PUBLIC SECTOR, WITH CONCESSIONAL LOANS PLAYING A VERY IMPORTANT ROLE.
LADIES AND GENTLEMEN
WHEN IT COMES TO IN INVESTING IN WATER, FINANCIERS TYPICALLY FOCUS ON THE AVAILABILITY OF A PIPELINE OF BANKABLE PROJECTS. THIS REQUIRES GOVERNMENT AUTHORITIES AND PROJECT DEVELOPERS TO BE TAKING A LONGER-TERM STRATEGIC OUTLOOK WHEN IT COMES TO WATER RESOURCES AND WATER RELATED INVESTMENTS – BRINGING A MORE STRATEGIC VISION THAT TIES SERIES OF INDIVIDUAL PROJECTS DELIVERED IN A LANDSCAPE OR AN ECOSYSTEM. ONE WAY TO DO THIS IS TO SITUATE A PIPELINES OF BANKABLE PROJECTS WITHIN BROADER STRATEGIC INVESTMENT PATHWAYS TO ENSURE THEY ARE RESILIENT AND CONTRIBUTE TO WATER SECURITY AND SUSTAINABLE GROWTH OVER THE LONG TERM. A STRATEGIC INVESTMENT PATHWAY APPROACH CONSIDERS MULTIPLE PROJECTS, THEIR INTERCONNECTIONS, AND OPPORTUNITIES TO SEQ UENCE THEM IN A WAY THAT CONTRIBUTES TO LONG TERM RESILIENCE. THIS IS WHAT THE REPORT WE ARE LAUNCHING IS POINTING DECISION MAKERS TO.
LADIES AND GENTLEMEN:

IT IS OUR SINCERE HOPE AS WWF THAT THE STRATEGIC INVESTMENT PATHWAYS REPORT OFFERS GOVERNMENT AND THE NATION AT LARGE AN OPPORTUNITY TO REPOSITION THE ZAMBEZI AS A RESOURCE TO HELP THE COUNTRY TO CLOSE CURRENT INVESTMENT GAPS TO THE WATER SECTOR. THIS REPORT MAKES RECOMMENDATIONS THAT WILL AMONGST OTHER THINGS STRENGTHEN POLICY AND LEGAL FRAMEWORK IMPLEMENTATION, SUPPORT STRONGER COORDINATION OF STAKEHOLDERS , PARTICULARLY THE PRIVATE SECTOR AND PROVIDE FUNDING ALTERNATIVES THAT CAN BE PURSUED TO SECURE THE ZAMEBZI AND ZAMBIA’S WATER FUTURE. THANK YOU
NACHILALA NKOMBO
COUNTRY DIRECTOR- WWF ZAMBIA

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