Monday, August 18, 2008

Zambia's foreign portfolio investment hits $150 mln

Aug. 4 (Xinhua)

Foreign portfolio investment in Zambia's government securities have grown to 528 billion Kwacha (150.86 million U.S. dollars) from virtually zero in 2005, the Bank of Zambia (BoZ) has said.

The central bank notes that improved investment environment in the economy had resulted in increased inflows of foreign direct and portfolio investments.

The investments increase in sectors such as agriculture, mining, manufacturing, tourism, construction, transport and communications, according to the BoZ.

It also said that non-traditional export had more than tripled to 920.7 million dollars in 2007 from 255.7 million dollars in 2000.

Zambia's gross foreign reserves stays around 1.4 billion dollars, latest BoZ data shows.