The Zambia Association of Manufacturers (ZAM), Private Entrepreneurship Programme (PEP) Zambia and the Chambers of Mines of Zambia have signed a Memorandum of Understanding that will see local manufacturers benefit from the US$5 billion mining companies spend annually on international supplies.
Speaking during the signing ceremony in Lusaka today, ZAM Member Roseta Chabala said the move will help local manufacturers to boost the manufacturing sector.
Ms Chabala the onus is on the Association to ensure that all the members benefit from the deal in a bid to promote local content.
Ms Chabala has since made an assurance that the Zambia Association of Manufacturers will ensure that all local manufacturers who will be supplying to the mines produce quality goods and services.
And Chambers of Mines of Zambia Chief Executive Officer Maureen Dlamini said the chamber is concerned that local manufacturers are not benefiting from the mines.
Ms Dlamini said the move is a step in the right direction as it will help local manufacturers to supply goods to the mining companies which in turn will boost the country’s economy.
Speaking at the same event, Private Entrepreneurship Programme (PEP) Zambia Programme Manager Bayo Akindeinde said his organization will continue to initiate programs aimed at addressing business linkages.
Mr. Akindeinde said it is important that small businesses are given an opportunity to deal with bigger businesses in a bid to address some of their challenges.
What kind of goods are locally manufactured for the mines?
$5 billion? so the mines are spending more than Zambia’s external debt of $4.7 billion a year? unless that was supposed to be $5 billion kwacha or $5 million dollars?
@ Fr33dom – $5 billion kwacha? Mmmm!
That was a typo but you get the gist of things? Should have been 5 billion kwacha.