Finance Minister Felix Mutati has said that government will this year slow down on borrowing to allow for the private public partnership model to address various economic challenges in the country.
Speaking on behalf of the council of ministers on the committee of the public private partnerships after touring the US$1.4 billion Kingsland ZAF project, Mr. Mutati said that government is working on strengthening the public private partnership model to encourage more investment in the country.
Mr. Mutati stated that government will ensure that the focus on enhancing other innovations for economic development through other financial models other than debt.
He has since encouraged Zambians to show interest in purchasing some of the houses and infrastructure that will be put up by at Kingsland.
The Kingsland 1.4 billion United States dollars mixed use project is being undertaken by the Zambian Air Force and Sun Share Group under a PPP model in Lusaka’s twin palm area covering 1,100 hectares.
The project will comprise a five star hotel, 3, 000 high class villas or residential apartments , a shopping mall, private school, police station, hospital, children’s play ground, glass bridge for tourism purposes and a rose street for wedding photos and occasional photos.
Speaking earlier Zambia Air Force Commander Lieutenant General Eric Chimense disclosed that the project has so far employed 400 workers and is expected to be completed in the next two to three years.
Lieutenant General Chimense said that the project will help ZAF officers and other members of the public to own affordable houses and will also help enhancing the tourism sector and further strengthen PPPs in the country.