Government says the private sector plays a critical role in realizing the transformation of this country into a medium income economy.
Finance and National Planning Minister Dr. Situmbeko Musokotwane said the private sector is critical in ensuring that government’s plans of citizen’s economic empowerment are realized.
Dr. Musokotwane was speaking in Lusaka today at the signing of Lunsemfwa Hydro Power Company Limited (LHPC) US $ 7 Million Bond Redemption ceremony at intercontinental hotel.
He said government expects the private sector to have a long term strategic perceptive in the development of their enterprises in order to develop the Zambian economy.
Dr. Musokotwane said the resources in the custody of Zambian institutional investors are local resources which must be utilized for the development of the country.
Dr.Musokotwane, also said government will in the next few weeks advertise ten projects to be run under the Private Public Partnership Agreement.
Dr. Musokotwane says the projects will include development of shopping malls and banking facilitities at four border points.
They will also include the development of a 70 kilometer road linking Lusaka to Chirundu through Leopards Hill Road.
And LHPC General Manager Katai Kachesa said they managed this bond to the best of their ability and to the satisfaction of the bond holders.
Mr. Kachesa urged other Zambian companies needing capital never to fail to honor their obligations because that is the only way to establish partnerships with lenders.
LHPC was incorporated from the privatization of ZCCM, Kabwe Division power stations, Mulungushi and Lunsemfwa, at privatization the total installed capacity was 38 mega watts.
ZANIS
Yes, the private sector is indeed critical, Mr. Musokotwane but how doesi it perform in such a difficult market environment like ours? With most of the businesses dominated by foreign (mostly Chinese or Indian) investors, Zambian companies still face difficulties to stabilize their market position.
Yes this true. I would love to know more about the ownership structure of this company
I really look forward to the day w can have loads of such projects being driven by indegenous Zambians. Can you feel me all of you in he diaspora? put your foot in the economy, become major stakeholders in Zambia Limited
GUYZ, WHERE DOES ONE GET THE LATEST INFO ON SOLWEZI ELECTIONS? BA MMD BA ME-SOO-LER BUSHE TA B.A.L.A.N.Y.A?