Nakamabala expansion project positive move – RB

PRESIDENT Rupiah Banda says the expansion project of Zambia Sugar’s Nakambala Estate will impact positively on the development of the country’s economy.

And South African President Jacob Zuma has described Zambia as a model for investment.

Speaking in Mazabuka at the commissioning of the Nakambala Estate expansion project yesterday, President Banda said the sugar expansion project will not only ensure Zambia’s self sufficiency in Sugar but also improve the country’s economy through export of the commodity.

The president said sugar production has proved to be a rewarding economic activity for the country.

He said Zambia Sugar which provides permanent employment to more than 3,000 people, has positively contributed to the fight against poverty and unemployment in the district and the country as a whole.

President Banda said agriculture has become the driving force of Zambia’s economic growth adding that his government will continue to support all initiatives aimed at boosting sugar production in the country.

He said South African investment in the sector was welcome.

And President Jacob Zuma said Zambia is now the number one trading partner with South Africa because of the good business environment.

He said Zambia has been able to attract investment because of sound investment policies.

“Zambia is a model country for investment. It is attractive to south African companies,” said Mr Zuma.

He said the investment by the South African company ILLOVO Group in the Zambia Sugar company was testimony of the good investment environment in Zambia.

President Zuma said Zambia is not only a copper producing country but also one that produces sugar.

He said the expansion project at Nakambala would no doubt impact positively on Zambia’s economic development.

He said the South African government is encouraging companies that invest in other countries to improve the social living conditions of the local people apart from providing employment.

President Zuma invited President Banda to his country for a state visit.

President Zuma reiterated that the two countries have a duty to ensure economic relations remain vibrant.

Meanwhile, Chairman of Zambia sugar Don MacLeod said a total of R1.7 million were spent on the sugar expansion project.

He said the company will continue investing so that it remains economically viable.

President Zuma has since left the country.

ZANIS