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Zambia woos colossal Indian investment

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Government has disclosed that investors from India are interested in investing in the Mining and Energy Sector.
Commerce, Trade and Industry Minister Felix Mutati disclosed that the Indian investors  are by the end of this year expected to invest a minimum of $US 100 million in the first phase.

The minister said government is soon expected to conclude discussions with the investors on the mining investment after which a final implementation agreement would be endorsed.

Mr. Mutati told ZANIS in an interview that in Phase Two, the investors want to invest in the oil exploration.

He however said the investors have been advised to wait until government advertises for oil blocks so that can apply like any other investor.

Yesterday, Mr. Mutati disclosed during a public rally in Solwezi that investors from India and China intend to invest over $ 1 US billion.

He further stated that investors within Africa are willing to invest millions of dollars in economic activities which he did not specify.

Mr. Mutati said the move would lead to job and wealth creation as many more Zambians would be afforded an opportunity to participate in national development.

He said this is in line with the launch of the Citizen Economic Empowerment Fund (CEEF) aimed at empowering Zambians.

ENDS/MK/AMZANIS

editor
editorhttp://www.lusakatimes.com

110 COMMENTS

  3. PF bloggers are not making any contributions to issues to do with the economy, such as this article, and the falling copper prices. I have never heard SATA talk about about, or give more specific details of his economic plans. This shows the nature of this PF party and its cadres. Viva RB

  4. Good move…credit to Mutati not mmd. Mutati you are welcome to PF. But hope this will bring meaningful employement to the poorest. PF 4 LIFE.

  8. This is very encouraging, unfortunately, the fruits of some of these investors are not seen! who’s to blame? I think the Govenment has to be blamed for lack of monitoring techniques like it is done in other countries where there is serious govts.

    So to me the news is not really exciting, but rather a nomal song in Zambia.

    Lets try HH, purchase he will be able to manage the resources of the country.

  10. The investors are welcome but let Zambians do the jobs they are capable of doing than importing indians to come and work here when most Zambians are unemployed.I am saying so because the chinese are doing exactly as I have put it.So which ever government will come into power it must uphold all the pending and existing investment agreements,and let not the MMD base their campaign on such because it is not only them who are capable of wooing investors.Viva Sata Viva PF elyo nobwatoooooooooo!

  11. #1 VIVA kuti.Is it RB who has brought this investment? It is the government PLEASE. These negotiations have been going on for some times its not now when he is acting as President.FOOLISH.Next time know where to use VIVA

  13. He however said the investors have been advised to wait until government advertises for oil blocks so that can apply like any other investor.
    Do you mean Ba LPM was not informed about these oil blocks?just look at the time factor, RB is acting zed presdo he’s the only one that can see the bore holes full of oil?
    If this is true then:

    Thank you RB and MMD + GRZ.But time has come to leave office RB 72 for the littles, i mean HH.

  15. :More money in our pockets” its PF with its old retired Chitalu Sampa and Sata.All the reserves in our
    Central Bank iam scare will record zero returns.

  16. Sata can’t talk about the economy. He doesn’t understand what is going on in the financial world.
    #11 Confidence in the gov’t of the day is what attracts investors. The president is the main part of the gov’t. Do you think investor’s would be encouraged to come if Sata was president? Not in a million years!

  17. Viva Mutati subject to the Indians knowing their place in Zed, this is our only home!

    Number 10, walya iwe napabwatooofye!!!!

  21. RB is working.
    Even on probation results are showing.
    Viva RB, you dont talk too much like some people who talk just because of talking.
    Instead you talk only when it is necessary and you spent rest of the time working.
    Keep it up!

  22. # 19, the current head of the government is RB. look at what # 16 has written. It explains it all. Do you think chinese investors would come to zambia if SaTA were president? He openly rejected chinese investors. Viva Current goverment, Mutati, and the head of government, RB.

  23. Br Gen Miyanda, you have caused laughter to your own family by receiving a brown envelope of k 15,000,000.00.You will never rule zed, over my dead body.You will never govern zed you are too selfish.I wish you listened to your wife, she told you never never to contest the high profile elections for zed.You are just a piece of laughter everywhere.Maybe you want to make history for Miyanda family as losers.
    take back the money to RB and you said you are born again, a christian?
    Leave room for the littles HH .

  24. When big figures like this are announced govt shud xplain in what form the investment will come and how it will trickle into our economy and benefit all one including the kaponya’s in PF.

    There is no current investment by a foreign investor I know of that has benefited this nation. The whole country looks like a shanty compound!

  26. I must say Mutati and the late LPM have done well to woo investment to Zed, jokes aside…even though the presidential trips were many and close between with excess entourage, the dividends have been worth it…but like #10 and #17 have said, this will only make sense if the investment brings dignity and self-worthiness to the Zambian on the ground. That is what we call economic growth my friends..

  27. Ba BOBBY # 16.Do you think RB has manifesto. Tell me what legacy has he been talking about. Do you think if RB was not in MMD and just formed his own party do, you think he can have anyone to support him? Maybe sugar daddy like you can.

  29. Here is the truth,
    With RB there will be an inflax of investors.
    With SATA there can be an outflax of investors.
    MMD policy says bring investors; PF policy says cahse investors but develop the country in 90 days.
    MMD says we need Chinese corporation; PF says we need to chase Chinese and bring Taiwanese.
    The PF modified version says now we can call chinese because they are now relating to taiwan.
    In short, PF will hammer sanctions on China unless they treat Taiwan with respect then PF can lift its sanctions against China.

  31. CREDIT GOES TO SATA FOR THE ADVERT IN THE POST TODAY FOR REMINDING US HOW INDIANS ARE IMPORTANT TO US.OUR FOREIGN POLICY SHOULD NOT ONLY BE ONSIDED LETS CONSIDER ALL PEOPLE AND RACES,INVESTERS ARE WELCOME NOT ONLY IN THE MINING SECTOR BUT WE WANT ALL SECTORS.WHY SHOULD WE BE IMPORTING COOKING OIL,SUGAR AND THE LIKE.WHY DID LEAVER BROTHERS LEAVE?TAXES WE NEED TO REDUCE TAXES THE WE ARE GOING TO ATTRACT INVESTERS IN ALL SECTORS NOT ONLY MINING.

    PABWATO PPPPPPPPPPPPPFFFFFFFFFFFFFF 4 LIFE
    NO MORE ANYANDULE TWALILA PAFULA..WE NEED MONEY IN OUR POCKETS WE NEED JOBS TWALILA

  34. A well meaning Zambian would surely see that Sata is not just the person to look after our economy, he has no knolwedge about it. If SA can talk about investor convidence after Mbeki who are we.

  35. When are we going to learn a lesson from this so called investors from India? Have we forgotten how this Indians did in Luanshya. They turned Luanshya into a desert.

  36. Investors who come to mistreat our people, who feed their dogs better than our people, who lock up our people in factories and bakeries,who give our people 5 pin funeral grant, who dont give our people safety clothing, who make our people work 10 hours a day and give 150 pin salary….. etc……..etc……………. are not wanted at all. I resign from MMD VIVA Given Lubinda and Sata.

  37. #26,
    Do you want to plant maize in the morning and start haversting in the afternoon?
    There is time to plant and time to harvest, not the 90-day PF principle Sata talks about.
    We must understand the principle of investment/return.
    Dont expect returns during investment, and during investment you may make mistakes but dont through the investment. Instead perfect your operations and forge ahead to get more return at the appropriate time.
    PF policy of 90 days does not bring wealth or any meaning to any economy. You just mess up the journey to prosperity.

  40. Good looking out Mutati, it goes to show that these missions to India, China generate interest in Zambia. There has been alot of interest from India lately and not in a little way.

  42. I went to Kansanshi mine not too long ago and the number of philipinos, indians and whites I saw was astounding…the black Zambians ( and here i assume they were zambians) were so few it seemed like they were the ones in a foreign country…..this is one of the very few points I agree with Sata on, bring in the investment/cash and knowledge but we bring the man power, well paid man power at that.

  43. Imagine a president that talks about dogs that belong to foreign investors? Mike Sata was telling people in a compound about how peter cottan’s are fat. This is all that PF Kaponyas talk about

  44. Choma 1 your mouth stink like a pit latrin in at a tarven in Chibolya compound. Infact a diarrhea combination of Chibuku,Kachasu and Ma local wine.we know you the loser to HH at the convention and that will continue to pain you till death.

  45. what about investors investing in agriculture? thats what we need most! these so called investors are only interested in the mining sectors because they benefit more than us zambians.# 36 those are facts!!!

  47. #37, what type of investment are you talking about? KCM my brother recovered its initial cost ($25m) of purchasing the mines way before the end of the first financial year!! There is simply no excuse of ill-treating local employees while their so-called expartriates get 5 -10 times more….cost of labour is part of investment capital my friend!

  48. Indeed there will be more money in your pockets with Snake Chamber Sata with his anus. But it will be useless money like the USELESS Zim dollars. So it is more USELESS money in our pockets! Deep down your heart of hearts, you know it is only HHHHHHHHHHHHHHHHH capabale, sober, energetic, fit, sound mind, etc.

  49. Iwe chi #20 don’t be a double standard person today you say you are supporting RB to day you say you are supporting Sata grow up man

  52. Mossad try if can stand the pressure of Tanks and PT 122.US will not allow your old man to take the country back ward.Ask the pirates on the somalian water space.

  53. Visited Kansanshi mine not too long ago and the number of philipinos and indians I saw there made me think I was in bangkok or some sh#t! like that….point is investment has to come with employment for the locals, quality employment at that!

  54. #46. Uwakwisano,
    You are right, there were errors the govt made and this had to do with the initial agreements. These agreements were made at the time when no one anywhere in the world ever though copper prices would shoot up due to sudden high demand from china. this is why Anglo America pulled out of the mines. they saw no future. KCM got a furtune which needed quick revision of the agreements.
    But you dont through away investors because of your mistakes because that would be another mistake. instead you polish up on you approach to get a better deal, and i salute the govt for going that direction.
    KCM made profits that no one could anticipate, not even the experienced aglo-america.

  55. # 37 OK! we are now talking the same language.Except i feel with RB at the top evn if investors do come we wont see the benefits coz RB and his team beliv in brown envelopes and back door deals.we nid someone honest and with a strong economic background like HH.RB will just ruin the economy coz he is corrupt.

  58. Is Sata an elected PF representative or a self proclaimed one dictator?Think about it.remember we electing a Zed president and not a mock one to see who will go for plot 1, but a very serious.

  59. #47. Justice, #28. BRDM, #33.Mike Mulongoti

    U three guys dont deserve to be arround right thinking people. I wonder how u run your households.

    Try to be issue based

  60. Lets have serious bloggers 57 livingstone , what are you trying to say , didnt you see the supporters going with our President to file his papers? and 29 have you or have you not seen or read PFs manifesto on foreign investment? PF welcomes genuine investors into zambia not chinese traders selling rice and chickens at the market, learn to love Zambia. then you will protect it, look at Botswana today, no investor comes in without partnering an indegenous Mutswana. chinese are now warming up to Taiwan;i bet you dont kno that and why, now what with chinese mediocre and shoddy goods see whats happening today in china, children are dying because of the milk scandal. what quality assurance is the

  61. A few questions to Mr Felix Mutati.
    1)Where in the world have you seen Indians do anything for the benefit of a country?
    2)What makes you think they will start this spirit for mother Zambia?
    3)When you go to India to woe the so-called investors, has’nt it occurred to you that Indians are just exploiters? Look at roads and schools, hospitals, etc on the copperbelt. How much have they taken already? How much more
    4)You are mortgaging the country; are you aware of this?
    5)Indians have a CASTE SYSTEM in their country…….the worst form of apatheid against their own people, why do you find them acceptable for Zambia?
    6) What did they give you when you went to India? Please tell the nation.

  63. Von Goetha my home is very stable i equaly didnt know that MUBWATO meant that.Its just at the rally in Kitwe when the PF explained to the people.So please on this one dont mention Mubwato its a very big insult.

  64. Mr Mutati..one of th very few pipo to cntnue even wth a change of govt.he dosen’nt politicise always.im sure if pf or upnd wins,thy wil kip hm and magande…bt ni viva change apa..tht oil has bn talked abt since chiluba’s tenure..lets hop thy draw oil very soon.

  65. KCM under the Indians is the worst exploiter.Contractors are not paid on time,or only paid a small fraction of what they are due at a time. I don’t understand fellow Zambians (Bantubonse,Hamukoma,Equamo etc ) who shamelessly defend these exploiters.I suppose it depends on which side your bread is buttered.

  66. I am wondering why people are so excited about foreign investors and why people are thinking investors have come to line the Zambian peoples pockets.The foreign investors you are so excited about have come to make money, your money,while you busy argue about petty political issues.Copper prices have been high till recently and the Indians,Chinese,south Africans and Australians have been making large profits at your expense.Its sad that there are few if any Zambian investors.Now that the global economy is in a crisis lets see what these investors, you are so very excited about ,are going to do.God help us.

  67. I really feel pit for the few kaponyas who up to now cant understand the world has changed.It calls for Economic management and sound policies to fit in the Global demands.The policies of 90 days and pronouncements of more money in the pockets without back up policies are tailored at wooing bloggers who cant understand issues.Of the 4 candidates HH though mistakenly tagged TRIBAL is the MAN who can fit the challenge.

  69. #61.BRDM let me school you bro…

    BEMBA ENGLISH LOZI
    Mubwato ——- In the BOAT——Mwamukolo

    Future generations depend how we take our country foward. Being narrow minded will do us no good

  70. BRDM is a mad person who has access to the internet.Von Goethe muleke wala penenamo Taumwenefye ama comments he has been making.

  72. Nobody can bring you peace but yourself.

    Finish each day and be done with it. You have done what you could, some blunders and absurdities have crept in, forget them as soon as you can. Tomorrow is a new day; you shall begin it serenely and with too high a spirit to be encumbered with your old nonsense

  73. its good for the country just as long as they give back to the citizens of Zambia and not exploit them then later on go back to India with all the profits.

  75. We ‘ve got bright pipo in mmd . Pipo like Mutati , Magande and Fundanga but they hve allowed a useless Banda 2 Lead us, we cant agree dats why we gone 2 HH coz he un economist not chi freedom fighta fyakale history

  76. To whom it may concern! Please make sure all Zambians working in companies owned by “investors” benefits from working for them. K150.000 – K250.000 equivalent to (€23 – €40 English pounds) less than the cost of one pair of good shoes in UK is just pathetic. My kids get more than that for pocket money per week from their dad, to spend on Ice cream, cinema, etc…
    Watch out for those foreigners taking advantage of the poor in Zed, Idi Amin Dada or Hitler would never had allowed such things to happen to their own people!!!! Whats up you Zambians?

  79. #74.those are very irrelevant issues to bring about,you cannot compare the pound to the kwacha are you serious,just air out your views in a mature manner and stop telling us what you kids get from their father n the pair of shoes you can buy from those amounts.do you think if you where in zed your kids wold be enjoying those same benefits or luxuries they enjoy over there?

    • Thanks Doug,We were at the start and stopped after a while just too much dsnsereipg.Building a boat is not about saving money at all, as there is a lot of good cheap boat for ridiculous price right now. It more about something you wanted to do once in your life. It also depend a lot of the material use, as we saved the gear from the last boat, we buy high quality for the hull of this one, so the fee won’t be the same at all either. But just for the hull/deck/basic rig, it’s easily over 35$k.Except if you can saw and dry your own timber before starting .

  82. #79, Dummkopf!! it’s people like you who thinks so low as not to compare UK & Zed, that contributes to the poor standards in Zed! Mind you, there are africans countries where people have better lifestyles than many people in the EU, point is, why should Zambians suffer in their own country when they have so much resources to benefit from, instead many slave for foriegners, who takes all the wealth back to their countries of origin! Fact is, its inhuman to expect someone to work so hard for long hours just for peanuts, i see you will just be “a chola boy” for the mwenyes and chocholichos after you are through with your hottentoten studies in the desert.

  85. Mutati, your ideas sound fine. The only problem is that you went all the way to a Solwezi to tell this nation about you investors. Tebufifye muletubepa.

    You stood on a wrong forum to tell us this.

    No Vote for you sir. Cheap cheap politics. Zwaaaaaaaaaaaaaaaaaa!!!!!

  86. Well done ba RB and hon Mutati,ba Sata has no plan even his advert in post while soliciting for kwachamania was hopeless, no need to draft policy based on a few indians he is begging from. We want a zambia that is enabling to all and our children especially indigenous Zedians.

  88. Imwe bantu for how long are we going to hear these cheap politics, I will only believe when I see investors moving in. I suport the person calling for a change let try new blood HH who looks to be business minded.

  89. Its election time so they want to impress the forgetful electorates! MMD will never stop their rhetoric everytime its election time. Now they are seeing the darkness at the end of the tunnel so they will reveal many plans and projects they can possibly think of. He traveled all the way to the rally just to tell people so they can vote for them, these people got to be serious for once. MMD stop cheating and taking people for rides! Stop bringing and inviting traders in the country.

  90. #87.. its pricks like you who should be dead. what good have you done for this country.
    its ignorant a#$holes like you that ruin a peaceful place like ours.
    foreigners are a minority here and are not the financial force they used to be. We are are the ones running the country, or are supposed to.. so if we have laws that protect our workers then they have no choice but to follow.Its easy to blame someone else for your own short comings and ignorance.
    the problem is we have been made beggars by the goverment by expecting handouts and have forgotten to do a decent days work.and when we see sucess stories we get jelous. let the invetsors come and develop and create well paying jobs

  91. Anonymous #61, you raise legitimate questions. What we want is investers with a proven track record of stimulating the economy, leading to quality job-creation and genuine opportunities for Zambians. When you look at the state of Kamwala market and the Zambians Indians employ, how much has really changed in the last 30 years? Their key strategy is to befriend anyone in authority, to guarantee a place for themselves in society. Now they are even hoping that Sata will influence Zambian opinion in their favour, but they obviously don’t know King Cobra! Those of us who are abroad should intensify our efforts to market Zambia, so we can attract real investors, osati ma locusts.

  92. #87 sounds like you were fired by one for stealing or sleeping on the job.
    its guys like you who give this country a bad name. besides if they dont pay… leave the job and get another. nobody is forcing you to stay.
    we are quick to see and criticise investors for not providing protective clothing , yet our own indigenous companies totaly ignore these rules and nobody dares complain. what hypocrites we are!

  93. #90, i will not return you the favour of calling you a prick, sorry if i offended you, but we need legitimate investors, tell me one such indian investment in zambia, very few, they just own shops and expliot our brothers and sister because our system is weak & corrupt I dont know what country you are in, but as for me I have small investments home employing my fellow country men/women who I treat with respect, the little extra I make I invest it home, what about you, what are you doing about it, maybe the investors we are looking for is us zambains living outside our country, I can imagin if just one million of us outside zambai tried to invest a little back home….we could change things

  94. We welcome this iminent investiment, however, when these guys come, they want bring ni FISOSO in the name of expats, leaving out our own made in zambia mining engineers who we are so proud of. This is why we need a leader, with an iron fist who can draw the line and say this is the way we are going. PABWATO BANE!! DONT FAIL YOURSELF, NI PABWATO FYE MIDALA.

  95. #93 How do you expect Zambians outside to come and invest in Zambia when the government only gives incentives to foreigners. Indigenous Zambians are subjected to high tax for any investment they try to set up, the money that ends up in their pockets APAMWAMBA. Please we need a change!!!!!!!!!!!!!!!!!

  97. #95, we now have investment incentives that have been put in place for citizens to invest in some parts of our coutry with as much less as 0% duty on machinery brought into the country… you just have to try and find out what categories these are.. try ZDA or a document Investing in zambia….

  98. Although the investment from India is welcome, the government should first ensure that good labour laws are put in place so that the so called investors do not start ill treating the Zambian people and subjecting them to poor conditions/minimum wages etc. And also, these groupings coming in the name of investors should not be given 5 or so free tax who at the end of the tax free period will sale of these companies to sister companies in order to continue enjoying free tax at the expense of genuine and hard working lock and foreign investors.

    PLS NOTE SELLING AT KAMWALA MARKET IS NOT INVESTMENT!!

  100. You will be foolish not to know that India and China are today’s economic super powers. We know labor laws stink at the moment but that does not mean we have to refuse good investment. Just because there are crocodiles in the river doesn’t mean gazelles have to stop drinking water. You also have to understand that if your economy is weak, you have little negotiating power and hence the issue of tax rebates. A time will come when our economy will be so strong that we can even tell investors the likes of Warren Buffett to take it or leave it.In the meantime lets make our economy attractive to investors and that starts by accepting Indian and Chinese investment.

  103. Chinese are far much better and well organised, most indian investment is a let down e.g vendata.

    Indian chaps are just traders

  104. With an Easterner in plot one, you should expect indians in there millions coming to Zambia.

    They will just be calling RB,
    Banda! Banda! leta nsapato kuno.
    Iwe Banda segula shop
    Kamani cant you see the customers are waiting.
    Kafura!!!

  105. #5, I hope your wish can come true!!! I am thinking that the most appropriate title should read: “More investment, more money in the pocket of the investor”!

  107. RB has proper relationships with indian from here, am a chipata man who knows all the indian friends of RB, should this chap go through awe sure tukakosefye nabamwenye

  108. We would have sell it if we could. But nobody neatwd a bare hull, with delaminated deck, no gears and broken mast. We even try to give it away with no success, all the gears are going into the new boat. We also neatwd the lead as it was suppose to be, but it end up being Cast Iron.

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