Investors are urging the Zambian government to guard against potential impacts posed by xenophobia on the economy and investment, Daily Mail reported on Wednesday.
Mark O'Donnell, chairman of Union Gold Group of companies, was quoted as saying that xenophobia is a negative occurrence and does not help economy in any way.
He said it is unfortunate that xenophobia had erupted into violence when it should have been solved by peaceful means.
More than 50 people have been killed with 100000 families being displaced since xenophobic attacks broke out in South Africa last month.
Analysts have predicted a backlash by some African economies where new South African investment could suffer. However, the recent xenophobia in South Africa and political crisis in Zimbabwe have little negative effects on its trade with the two countries, the government said.
Zimbabwe remains a key corridor for trade while South Africa is the biggest exporter to Zambia, according to Minister of Commerce, Trade and Industry Felix Mutati. "We have not seen from the trade perspective any changes...trade has continued, there is no disturbance," Mutati said.
Source:Xinhua
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