China among Zambia's top investors: Minister

LUSAKA — China is among Zambia's top investing countries, Minister of Commerce, Trade and Industry Margaret Mwanakatwe said Monday.

She said China and South Africa are the two major sources of investment for Zambia, which helped raise investment pledges to a total of $3 billion last year alone.

About $500 million of them are already in place and will help spur economic growth and create more jobs in the African country, she said in a statement.

The minister said the Zambian government has taken measures to boost economic diversification. Zambia's economy has now a positive outlook as inflation is under control at 6.7 percent while the exchange rate is stable.