Government Urged on Sovereign Wealth Funds

Consumer Unity & Trust Society (CUTS) International has called on government to consider embracing Sovereign Wealth Funds (SWF) as part of economic development.

CUTS International Zambia says Sovereign Wealth Funds, which are mainly government investments in other countries, help boost foreign currency inflows.

Acting Centre Coordinator, Simon Ng’ona has cited Libya as one of the countries, which have used the concept effectively.

Mr Ng’ona says Libya has done so through LAP Green, a multi-national telecomm parastatal, which in Zambia has a 75 percent shareholding in Zamtel.

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