Ministry of Housing and Infrastructure Development led by the Minister Ronald Chitotela with meeting former U.S. Republican Senator Norm Coleman
Ministry of Housing and Infrastructure Development led by the Minister Ronald Chitotela with meeting former U.S. Republican Senator Norm Coleman
Mercury Asset Partners, a multinational financing and logistics company says it has mobilized US$ 600 million for the implementation of various infrastructure and investment projects in Zambia. These include, among others setting up of a solar geyser manufacturing plant, upgrading of slums (urban renewal), establishing an Investment bank focused on providing Construction Finance.

In August 2017, the Government of the Republic of Zambia signed a Memorandum of Understanding (MoU) with Mercury Asset Partners to construct 5000 houses in various locations in the country. The construction of the houses will come with provision of associated services and auxiliary infrastructure such as paved roads, sewer reticulation, water reticulation, electricity supply, schools, clinics, shopping malls, among others.

This came to light during a meeting between delegation from the Ministry of Housing and Infrastructure Development led by the Minister, Mr. Ronald Chitotela and Mercury Asset Partners group in Washington D.C.

At the same meeting former U.S. Republican Senator Norm Coleman pledged to help the Zambian Government to build strong geopolitical and economic ties with the United States Government. Senator Coleman says the U.S.A and Zambia have a common ground of infrastructure development that the two countries have embarked on. Senator Coleman during his six years in the U.S. Senate served on the Foreign Relations Committee and was Chair of the Western Hemisphere among other portfolios.

Mr Chitotela says Zambia is on an infrastructure development agenda in order to grow the economy of the country. The Minister said Government wants to grow economic activities by opening Zambia to more foreign direct investment through infrastructure development.

And speaking before departure at Dulles International Airport on Friday, Mr Chitotela described the meetings in Washington as successful. He said Government looks forward to the successful implementation of the projects and urged the National Housing Authority to speed up the process of concluding negotiations so that a contract from MoU with Mercury Asset and Partners is signed.

Meanwhile, Mercury Asset Partners Co-Director and founder Julie Bwalya says they are determined to see the implementation of the projects in Zambia and that further meetings with the National Housing Authority would held in Lusaka to conclude negotiations.

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19 COMMENTS

    • Infrastructure is key, let the Govt channel money away from useless things like luxury Suvs and pump it into well managed infrastructure projects which should be controlled by private firms because you cannot trust govt to manage these projects properly. A private firm with a good track record should be the overseer and then rhand over to govt on completion- the private firms should be given autonomy with no govt interference in their operations.

      @Col Musonda SG (Ret) are you the one from Chindwin in Kabwe?

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    • Julie Bwalya is a very smart entrepreneur, one of the best among the smart people of the Zambian Enterprise.

      She has done a heck of job and not even the sky is the limit to what Mercury can do. That’s the difference between those that run this country on remote access and those that simply run their mouths.

      More news coming and we intend to grow this economy by leaps and bounds while making hay as the Zambian sun shines.

      Keep it coming Julie and great job accolades to your entire team in Washington DC and beyond.

      Zambia Is Greater Than Any Single One Of Us ~ B R Mumba, Sr

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    • They tell you they want to upgrade slums and you cheer all they want is cheap land to plant useless Shopping malls

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    • Reading retarded material like Jay Jay’s makes one want to vomit spout … bushe iwe komboni mentality ya kwipaya shani???

      Maureen Nkandu was right when she said, and I quote “… sex is like money, those who don’t have enough of it are either irritated at the mention of it or want to sound like experts at it”, End of quote.

      My smart sister was right going by this Jay Jay guy. It looks like anything positive and progressive concerning money among the smart people of the Zambian Enterprise gives him a hitching rush!!!

      Only problem is in this case one finds hard to fully crisp whether its not having enough it or wanting to sound an expert in which case folly jumps in because to him, everything involves pilfering of some sort.

      For once, can you just happy that Julie has sourced…

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    • Continued …

      For once, can you just happy that Julie has sourced $600MM that will improve lives of your own relatives at home? Why can’t you find the money yourself then???

      Hey, listen … I will be the first one to congratulate you right here when you do something like that. All we hear from your irks is nothing blah blah blah nothing progressive. Tata, ninshi ya chupa kanshi?

      Take time off this forum and travel a little, listen to some jazz … go to the Gym, please. The world is not coming to an end because PF is in charge of the country. This kind of jealous really kill bane …

      Please don’t die so young because of such bitterness, it affects how your organs function. If you don’t want to do it for yourself, do it for your wife, kids or at least someone you love. Chill a bit,…

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    • B R Mumba,Jr …FYI I am not a daft cheer-leading, two-bit mug cadre like yourself; I have to read the blueprint where have you seen a Private entity talk about investing in Public institutions like the ones mentioned above without mentioning what construction route they will take.
      There is a company with the same name MERCURY ASSET PARTNERS (UK) LIMITED; Company number 10961445, Incorporated on 13th September 2017 on UK Govt Company House Registration …what am I supposed to make of that?
      You think am an airhead foooooool like you; there is no information in this article about where they are sourcing half a billion dollars; infrastructure development is not something you mere stumble on like a drunkard.
      Wake up from your docility!!

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    • Ba B.R. Mumba, please don’t demean those with komboni backgrounds. Komboni people are much smarter than this Jay Jay. Jay Jay must be from some remote village in a rural backwater in some dark and obscure part of Zambia.

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    • Ba Facts … on your advisement, I am deeply sorry to all the smart komboni people of the Zambian Enterprise I have offended by linking them to this useless clown.

      Mungeleleko mukwai … my biggest problem is that I cannot figure this dimwit out. I have used all my logical operator to rationally figure him out and I can’t.

      I have tried just mere intellectual honesty, the chap has none, even mere morality using just consciousness to arrive at a common sense objective. Alas, common sense does not even seem to be that common with him.

      I am not a psychiatrist to psycho analyse him, but something really happened to him, he needs help because I don’t believe he’s a kleptomaniac beyond redemption.

      I would like to believe he’s a fellow patriot who’s just been badly hurt ~ otherwise I…

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    • Continued …

      I would like to believe he’s a fellow patriot who’s just been badly hurt ~ otherwise I am lost for words. I am shaking my head …

      Take for example the case he cited about the company starting only in September 2017 and he thus arrives at the conclusion that such a company cannot have access to $600MM.

      This shows total ignorance in terms of understanding that certain companies can start as subsidiaries of already established multi-billion dollars corporations whose nominal capital can easily be $600MM

      But he speaks with such authority on topics he’s usually clueless … how on earth can you help a guy like that???

      Heaven help us all …

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  1. Great, progressive news. This is what we want to hear. Proper housing with safe water and adequate sanitation is project number one for the country right now.. urban renewal is more necessary than ever!

    We have seen the kind of disaster that dirty surroundings can cause.

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  2. These deals dont make sense at all…you are an Investment bank focused on providing Construction Finance to whom? Govt at what interest rates…again its taxpayers who will be folking out all these monies. Upgrading slums? what is in it for you?
    Dont just cheer like komboni people who have been offered free chibuku by a campaigning politician…read the blue print. Cheering when companies have no track record and have sudden;y stumbled into $600 million.

    Wake up!!

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    • Jay Jay is right. Please wake up. Brother Mumba you are only supporting because you know Julie but usd 600 million is also a large sum of money. People don’t just stumble on it

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    • @Pineapple – Never mind this recurring cheer-leading sap called BR Mumba Jr…the schmuck seriously expects us tap dance like those NRDC students who were dancing when Dora came to visit the college not knowing that she was valuating the college before auctioning to the Chines.

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