Mulungushi Textile
Mulungushi Textile

A CHINESE investor is interested in reviving the Mulungushi Textiles in Kabwe and plans to invest in major tourism projects in Livingstone.

The investor and the Zambia Development Agency (ZDA) are in the process of finalising negotiations for the takeover of the closed Zambia China Mulungushi Textiles (ZCMT).

ZDA director general Patrick Chisanga said discussions with a Chinese investor who should start operating ZCMT have reached an advanced stage and that the company was willing to take over the operations.

Mr Chisanga said this during Zambia-Qingdao Commercial Dialogue Seminar in Lusaka on Monday.

“We have initiated bilateral discussions with Commercial Bureau of Qingdao City on two important investment ventures which will soon produce results,” Mr Chisanga said.

He said China Africa Cotton Development Zambia Limited had expressed interest in making two investments in Mulungushi and in a major tourism project in Livingstone.

Mr Chisanga was optimistic that both investments would be actualised.

About 11 business delegates were in Zambia to look for potential investments in energy, agriculture, manufacturing, and tourism sectors.

Later, ZDA signed a Memorandum of Understanding with Qingdao City of China, while Agriculture Minister Given Lubinda signed with China Africa Cotton Development (Z) Limited to broaden business interactions and cooperation.

Mr Lubinda said Government would continue cementing economic cooperation with countries like China to increase investments in various sectors of the economy.

Mr Lubinda was encouraged that ZDA was emphasising on agriculture, tourism and manufacturing.
“Zambia is a unique country, you invest in Zambia , you invest for the whole of Africa, the country has a youthful population ready to be employed,” he said.

Mr Lubinda said the Government had allocated one million hectares of land to foreign investors which Chinese investors should take advantage of.

Chinese business delegation leader, Qingdao City vice mayor Wang Wei described the visit as an important milestone aimed at further promoting friendship between the two countries.

“The visit is to promote trade and further cement our long standing economic relations between our two countries,” he said.

Chinese Ambassador to Zambia Yang Youming said there was need for more joint ventures between Chinese and Zambian businesses.

Mr Yang said as at October 2014 the investments from Qingdao Province into Zambia stood at $57.2 million.

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26 COMMENTS

  1. The Chinese government is close to owning all big companies in Zambia. How close are they? Check Lungu’s tooth gap, the space in between that gap. That’s how close they’re!

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    • Every election year, there is an investor for that ran down building. Even in MMD times. Last year it was a Tanzanian. Sorry bena Kabwe. Kekekekeke Politicians!

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  2. Give me that company, provided, through affirmative or deliberate action:
    1. Govt buys all its military fatigue from me;
    2. All political parties support me by buying all their regalia from me; and
    3. All Zambians help sustain the company (their company) by each buying an apparel from me through Zambian pride – buy Zambia, support Zambia.
    Looking forward to do business with you.

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  3. The Chinese are our all wealther friends. Give them Mulungushi and don’t let Muhamad continue to sell fertilizer there instead of doing what he had applied to do.

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  4. So what happens to that Tanzanian investor now? I hope he has not stripped the company of machinery. Last year I saw trucks coming out of the plant laden with what looked like machinery/equipment. Let the govt draw out a water tight contract with the new investor, that would include among other things, getting raw materials locally.

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  5. The economics do not work with this textile especially with the utterly cheap products coming out of China.

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  6. Patrick, that’s my point exactly! And any party that won’t buy from there can never be said to have the people’s interests at heart. With some kind of deliberate or affirmative action from the govt MT can run again and hundreds of jobs created.

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    • very true, we just need a sustained buy zambia campaign.
      The main problem is the PF middle men who get all those contracts to supply the uniforms, they want to make so much money so they would rather buy outside zambia.
      embedded corruption and vested interests in PF ministers makes sure you cant get rid of those middlemen who just add to the already high costs of production.

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  7. yes these zambians mps r thives i wanted the place i wanted to produce dennion for jeans and make jeans i had an order for 1.2 milliom jeans per month for ten years from 2 big international companies but when i went to see the officels they wanted me to line their pockets i said no i cant as i was the one brining a jeans line to u and one of them was ftj the big time thief now i m in bostawna employing 1500 staff and m in a proser of empolying another 1000 people i have got 6 lines and also looking at putting up a washing lundry to wash the jeans so this is zambia for u country of thives if u want to loose u r money go to zambia they deport people any how no proper styeam the immgrasion is full of fat officers all thives

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    • Wow, you have done all that and you can’t spell for squat!! ‘Do yor 1500 empolyese get a pey slip at the ende of every moth?’

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    • Who told you you need to spell to run a bussiness empire?? That’s why nothing works in Zambia. Full of pipo who only know how to spell but no practical skills.

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  8. yes i cant u fool that is the problam with u zambians and yes i give them pay slips and give them paye also i did not do a spell check

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    • Jay naik, before you post something you need to ask your secretary that is if you have one, to edit what you are about to post on public. maybe you like to embarrass yourself with the kind of english. Patrick you need to check yourself too.

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    • Spiner87 ,
      English is not my mother tounge. We suffer from multiple degrees and speak better English then the Queen syndrome but can’t fix anything, can’t make anything.
      Even GRZ are blinded by spoken English and PHD s and pay no attention to track record, hence nothing works in Zambia.

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  9. Spiner87, why divert everyone’s attention from an important national issue to matters of spelling and english (which is supposed to be English with a capital ‘E’, anyway)? The problems we face as a nation require that we all keep our eyes on the ball, regardless of our narrow personal interests.

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  10. Not Mulungushi textiles again……!

    We all know that that is a confidence trick. Who does not know that the Chinese would never want any textile company in Zambia.

    That will never, ever happen.

    They should just give the thing away to Sable Transport. Better still repurpose it for condom manufacture or make it a fish farm, slaughter house for flying porkers.

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