Zanaco CEO on key aims at Africa's investment market place

The 2024 Africa Investment Forum in Rabat, Morocco, has gathered global investors, African leaders, and government representatives to discuss Leveraging Innovative Partnerships for Scale. CNBC Africa's Godfrey Mutizwa spoke with Mukwandi Chibesakunda, CEO of Zanaco, Africa's largest bank, about their role in harnessing opportunities at the investment forum. Chibesakunda highlighted the importance of growing African economies and positioning Zambia as a hub for trade within the continent. She emphasized the need for transformative investments to unlock economic potential across Africa. The forum has seen interest amounting to $180 billion, with a focus on addressing challenges and turning them into opportunities to make projects more bankable. Chibesakunda discussed key issues such as scale, risks associated with African projects, and access to markets, highlighting the need for innovative solutions and partnerships. Despite Africa's low default rate, it faces high risk premia due to perceptions of risk, making it challenging to attract capital at affordable rates. Chibesakunda underscored the need to bridge the gap and showcase the opportunities available in Africa to attract sustainable investments. She also emphasized the importance of green finance and intra-African trade for the continent's development. Looking ahead, she stressed the need to think big and back impactful projects that can drive economic growth in Zambia and across Africa. Chibesakunda discussed the potential for partnerships with institutions like the Trade Development Bank and Africa Exim Bank, highlighting the opportunities for collaborative efforts to harness trade and investment. She also touched upon the power crisis in Southern Africa and the need for alternative energy sources like solar to mitigate the challenges posed by hydro dependency. Chibesakunda shared insights on opportunities in the energy and agriculture sectors, emphasizing the potential for sustainable investments to address pressing challenges and enhance communities' livelihoods. The interview concluded with a call to action to seize the opportunities available in Africa's investment marketplace and drive positive change for the region.