Thursday, March 28, 2024

Copperbelt to have a World-class shopping complex

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OVER US$2 billion is to be invested in a shopping mall and hotel next to the Kitwe- Chingola Road, making it the biggest investment recorded in the province.

And Government has signed a US$215 million investment promotion and protection agreements (IPPA) to facilitate the expansion and refurbishment of Manda Hill shopping mall in Lusaka and construction of a modern mall on the Kitwe-Chingola Road.

The IPPA provides various structures of incentives that Government will grant the investors.

Speaking at the signing ceremony in Lusaka, Commerce, Trade and Industry Minister Felix Mutati said Government will support and facilitate all investments in Zambia.

Mr Mutati said the structure of incentives to be provided under the signed IPPA include zero-rating value added tax during construction, facilitation of work permits and removal of withholding tax on remittance.

Other incentives include duty-free imports of building materials into Zambia, and developers will be allowed to recover 100 per cent of the establishment cost.

Mr Mutati said Government will continue to maintain a friendly macro environment, reduce inflation and the cost of doing business in Zambia.

“The construction of a new mall on the Copperbelt, and expansion works at Manda Hill mall will create jobs for the locals,” he said.

He said Government is happy with the infrastructure support along the Chingola-Kitwe Road, opposite the Chambishi Multi-Facility Economic Zone.

He said investments in the Chambishi zone is projected at about US$1 billion, while the new mall will gobble US$160 million. The works at Manda Hill will cost US$80 million.

He said Government will soon tender the Kitwe-Chingola Road for the construction of a dual carriage way.

“In excess of US$ 2 billion will be invested in the area, which will be the highest investment in Zambia. Construction works at Levy junction in Lusaka has started and we hope to create more jobs for our people from these developments,” he said.

And speaking at the same function, HBW group (developers of Manda Hill) executive director Gareth Poole said the project involves construction of additional shopping and other commercial facilitates at the complex.

Mr Gareth said once Manda Hill is expanded and refurbished, it will be the best mall in Zambia with international standards.

He said trading at the newly-constructed Mr Price store will start next month while the new parking slot will be completed in December.

He said all construction works at the mall will be completed next month.

Phoenix Materials managing director Phesto Musonda said the project on the Copperbelt is set to develop an integrated upmarket shopping centre, commercial office park, a 210-room hotel, casino and conference centre.

Mr Musonda said TGP Properties Limited is a joint venture between a Zambian company called Phoenix Materials and HBW Group of South Africa.

He said the two investors plan to develop the Copperbelt City by building infrastructure next to the Kitwe-Chingola Road, a project expected to create 1,000 jobs.

And Zambia Development Agency board chairman Luke Mbewe said the agency does not have any problem concerning the approval of the two investments, which will create additional jobs on the Copperbelt and in Lusaka, once completed.

[Zambia Daily Mail]

22 COMMENTS

  1. If all the investments Mutati has talked about over the years came to pass Zambia would be a paradise but sadly it is all talk and the little that comes in is for the benefit of the investor.Even our Finance and Planning minister is more concerned about making the “serious” investor (in reference to Zamtel) happy than the interest of Zambia. Where is our redeemer !

  2. Please build a shopping center for the people of kabwe too. They just dont have any where decent to go and have some fun. Its so sad

  3. what about factories, maufacturing plants ? Zambians continue being dupped by south africans.
    These south african built malls selling south african goods are a
    good way of externallising zambian wealth.
    Looking deeper even is this is providing jobs it is not creating wealth for the country. Dull zambians. Stupid GRZ.

  4. shopping malls yes, but where will the people of zambia get the money/ Its not a bad idea but the feww that enjoy all this are the apamwambas who are always changing the so called forex to shop at these malls. The development in any country is not the world class structures but the ability to enable the country to have production facilities. Will this venture help a common man? No. Will it help the investor in zambia to buy things they have in their countries? Yes.. This is the same as what happened in Bots, just in the same town Gabs so many shopping malls. people there want companies to produce goods for the country., thats just the same as to what is coming to our land now.

  5. Two billion US dollars! I don’t believe it. Kwacha, yes. And they’ll sell goddss made where? China? How about investing in productivity?

  6. Good news,anything that is attached to building infrastructure is welcome and it’s to the benefit of the local people(jobs) and also a revenue for the government,but most of all inchito shamoneka. Well done to those that have pushed for this project to finally come to pass ,i head about it some good years ago and i thought it was a delusion. i hope chamber valley project is still going on too.panono panono til-we get there. were credit is due it needs to be acknowledged not just criticize be positive.

  7. Hope it will be a real “world class” shopping mall not something similar to those “ma-line” (midadada) at Manda hill and arcade.

  8. shopping mall with lots of chinese gon`ga goods,so sad indeed. Why not have manufucturing industries (imagine anothe trade kings there)

  9. thats all us Zambians know selling, selling. What about production ? Most of congratulating this project do you know what a factory does ? selling, selling of goods not even produced in Zambia you are indeed shallow.

  10. Good news.

    All investors are welcome, even those in manufacturing. This mall will expose CB people to better quality life. Good news for jobs. I hope bashi mine will afford the goods.

  11. well that’s something to smile about 4 the people of CB and in particular my home town Kitwe. I hope as opposed to the Freedom Park one, which we have been hearing about 4 ages, this one gets done quickly.Please ensure that it does not resemble Manda hill and Arcades because those two look like blocks of classrooms at a GRZ school.

  12. That’s great news, so when will lusaka get a world class shopping complex? All we have now are the likes of Arcades and Manda Hill.

  13. I would not take my sabatical without commenting on this one. Malls, malls, malls when shall we here of a dental floss factory, a rice conglomerate on the barotse plains. A peanut butter factory in my home province; an arts college in chadiza or shangombo leather? Are they waiting for me? I am optimistic thus you and I shall have to reshape Zambia.

  14. That manda hill extension will create more parking problems. As it is already, parking is crazy especially on the weekends. Unless underground parking is introduced somewhere then you are in trouble. Yes it is great to have more shops but that parking space behind isn’t enough. Think of customer value as well, that is the overall purpose of a shopping mall. We the buyers should be satisfied with the facilities. Hope it looks as good as you make it sound. Otherwise, when I was last home, it was rather inconveniencing.

  15. #8 we can not produce squat in Z,what are you saying?not even tissue..so let those with brains and money do it we will work for them..Zambians are not innovators,no ways..45yrs after independence look at the quality of life,people still use pit latrines,diseases are order of the day.so while we still sit with our thumbs up our A-S-S-E-S-S things will move peace out!!!!!!!!!!!

  16. we are very happy with the up-coming developmental projects in CB.But the state of our roads in cb is pathetic.Eg almost all the roads in ktw have pot-holes and in bad shape.its like govt is jst priotizing mordenization of the city only in lsk.Look at old nkana hotel opposite hotel edingbour and the undeveloped land opposite ktw shoprite.IT IS VERY SAD;;

  17. Where are THE nice TOLL ROADS (MOTORWAYS) with THOSE outlandish interchanges…? This is what can change THE FACE OF Kumudzi..I think..?

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