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.
We expected nothing less. We need to show a degree of responsibility when it comes to borrowing. There is more than enough potential in the country for generation of funds other than debt.
What has ZAF got to do with housing?
That’s the problem with Zambia anyone can do anything where is NHA or building society evenbif you say itbis built on zaf land but there are more specific institutions responsible for infrastructure development. But then in a country where everyone wants to get rich anything is possible
Lets wait and see……….
He is making a mistake.
We borrow we spend on what we have been spending on.
Nothing wrong to me.
Thanks
BB2014,2016
Its the Bemba clique installed by MCS that brought us this huge fiscal irresponsibility.Rupiah Banda never had these IMF /World Bank warnings .
I see no wrong in ZAF undertaking a functionary role, especially in implementation and maintenance of the project. The bottom line is that it’s a good financial investment for the economy.
HERE COMES ANOTHER ID!OT @1.1. MILITARIES ARE HEAVILY INVOLVED IN ALL SORTS OF INDUSTRIAL ACTIVITIES THE WORLD OVER THEY ALMOST FEED THEMSELVES. THEY DESIGN AND MANUFACTURE, DESIGN AND CONSTRUCT ROADS AND BRIDGES, THEY ARE RESEARCHERS INTO MODERN SCIENTIFIC AND TECHNOLOGICAL WAYS OF DOING THINGS. I AM SHOCKED YOUR BANNER SHOWS THAT YOU LIVE IN THE UK AND YOU DO NOT KNOW ABOUT THIS. WHAT DO YOU EXPECT THE MILITARY TO BE DOING IF THE THE COUNTRY IS NOT AT PHYSICAL WAR WITH ANOTHER- JUST DO PELETE? OR RUOTE MUCH. YOU ARE REALLY A DUNDERHEAD.
CONGRATULATIONS GRZ ON THIS ONE. ALL WINGS OF MILITARY IN ZAMBIA MUST BE PRODUCTIVE IN FOOD PRODUCTION AND PROCESSING, COTTON PRODUCTION AND TEXTILES, ENGINEERS IN THE MILITARY MUST BE EMPLOYED TO DESIGN AND CONSTRUCT ROADS AND BRIDGES, MILITARY EQUIPMENT, DESIGN AND CONSTRUCT MILITARY SCHOOLS AND UNIVERSITIES, DESIGN AND CONSTRUCT DAMS, ETC.
@Carlos – they sold prim-eland to the Chines for a song and the Generals and Lazy Lungu are laughing all the way to the bank …what PPP tell us what ZAF will get ?
@Peter forgive these maroons they are under5s.
I am in love with Jesus … He’s answering our prayers!!! I just love it when God shows up. The smart people of the Zambian Enterprise are rising again!!!
Best country God gave man on the continent of Africa is getting back its lost glory!!! We gonna keep running this country in the right direction until we reclaim our rightful place.
Felix you have to keep letting progress be known everywhere. Also, you need to think of more ways to increase consumption, the 7 factor ripple effect, don’t forget that principle.
Remember the fiscal multiplier theory??? Only real accountants know that secret and how it applies to the Zambian context, use it … your time is now!!! More capital is coming …
We gonna make Zambia Great Again, so help us God!!! Because Zambia is where bashika…
Continued …
We gonna make Zambia Great Again, so help us God!!! Because Zambia is where bashika imitoto yesu and because Zambia Is Greater Than Any Single One Of Us ~ B R Mumba, Sr.
Heaven help us all …
Haha,make Zambia great again BR Mumba you mean the great Zambia of cholera ,high debts and IMF warnings?
Funny thing is you are all applauding but this was land reserved as a water catchment area to fill the Lusaka aquifers …….good thinking
$23 billion debt with NOTHING to show for it. The true amount of debt will never be revealed becoz most of it was looted just before 2016 elections whilst PF00L Zealots were blindly dancing to Dununa Reverse.
Now the PF thieving regime says you have to have a ZRA TPIN for you to open a bank account. In short, we the poor people have to pay for the billions they stole.
I only hope Lungu’s PF/GRZ could borrow more brains than monies.
God Bless ZAMBIA
@Mzambia wa Zamani … we are going to wipe out cholera and it will be a thing of the past. We are going to pay off all our debt soon, watch this space … so help us God!!!
And then we are going to grow this Economy/GDP and the smart people of the Zambian Enterprise will soon have beautiful, modern homes to live in right there in Zambia compared to your sh1thole apartments abroad.
We are going to build modern airports and new buildings using PPP and create new eco-friendly cities all over the country within the next 15 years. If fact, we are now determined more than ever before to transform this country using our own brains and resources.
Heaven help us all …
Very shocking what the love of money can do. How do you do a private development on an air force base? Even the Army Commander is evolved.
Good move I support you
What do you support blindly?
Iwe Ka Jay Jay … ukutumpa!!! Wisdom here is supporting the fact that Felix is getting it finally. We are on record telling Felix to focus on increasing FDI inflows not through borrowing but initiatives such as PPP instead of running to DC for consultative meeting with IMF/World Bank
Here Felix is explaining that this GRZ’s new focus is on just that … and you ask how some of us run this country. Here is an example of a Minister of Finance saying and doing exactly what I talked about 7 months ago.
Today, I told Felix to focus on the 7 factor ripple effect and the fiscal multiplier theory … don’t be surprised if Felix comes here explaining how he is implementing that. That’s how some of us run this country while some of you just run your mouths.
I will excuse you because you a day dreaming imbecile!!
@Jay Jay … you are equally forgiven for not being a dreamer at all ********!!!!
Please also slow down corruption or completely eliminate the vice too.
How about on corruption? That is number one enemy anyway?
Mutati, Zambians are not stupid anymore. Why bring up POLITICAL talking point without plan and strategy. You and your President are still in the swamp, therefore you won’t be able to WALK THE TALK.
You and your Govt need to start thinking before y’all start barking.
1. All Investors need to start paying their fair share of TAXES instead of scaring you with layoffs.
2. Fighting corruption has to start within the Govt of Zambian especially the Police Force & Cabinet Ministers.
3. You have to cut all Govt projects that does not benefit the TAXPAYERS now or in future.
4. All Govt projects have to be scrutinized for transparency especially on costs and quality.
5. Cut the Ministries by 4, they can be easily incorporated in others of similar work/purpose.
This is just the 1st 5 point plan since you guys don’t how to use your brains.
BORROW LOCALLY……………NO NATION STOPS BORROWING
we will count how many loans you contract this year
Nevermind Sly Mutati, Lazy Lungu did say that they can not survive without loans…where do you think they will find funds to balance the budget!!
In as much as the minister is right on revenue mobilisation and financial reengineering the problem is the smaller scale of Private Investments Unless syndicated
In Zambia the level of Private Investments mostly caused some little growth or TEPID GROWTH as technically said to fast track, especially if the quality of Investing firms and companies “”exhibit Zombie companies” highly indebted also since debt financing with little flexibility hence GRZ effectiveness
Government has been on track in financing upfront and move revenue measures to tax this TEPID GROWTH resulting private partners
Government can Invest and short sell through IDC in Private…
Public Partnership forms that are effective but if More can be done to fast track by private Investors its even Two fold
KINGSLAND, a US$1.4 million mixed development project has opened to public investment and is expected to be commission by President Lungu this month.
The upmarket project is being undertaken by Zambia Air Force and Sun Share Group under a public private partnership (PPP) model in Lusaka’s Twinpalm area covering 1,100 hectares.
Addressing journalists during the tour of the project, Sun Share Group sales manager Echo Chen, who could not confirm the exact date for the commissioning, however, indicated that it was this month.
Some workers were found working on the billboard that read, ‘Welcome President Edgar Lungu.’
The project will comprise a five-star hotel, 3,000 high-class villas and shopping mall.
Other amenities will include a private school, police station, hospital, children’s…
Other amenities will include a private school, police station, hospital, children’s play-ground, and a glass bridge, Rose Street, where newly-weds can pose for photos.
Zambia Daily Mail – July 11, 2017
Why should our Politicians be proud of such projects that only benefit the rich ….what jobs do such projects create apart from casual jobs. If these investors want to invest why cant they just buy land?
Sun Share Group sales manager Echo Chen said because the property is near ZAF base, Kingsland city will create an extremely safe and secure environment to property owners by offering a comfortable life.
“The facilities that the residents will enjoy include professional property management team, patrolling guards, intelligent security including CCTV,” she said.
She said Kingsland real estate has its own building material factory that will supply high quality products at low price.
Earlier, journalists also toured the Sun Share tower under construction behind Radisson Blu Hotel.
You can’t be normal by mixing zwd and LT . The former is useless and while the later is credible.
This Investment by ZAF or Zambia Army will be consummated and will come fruitful given the resolve to succeed and those Private Partners, they appear Good on Balance sheet and not impaired The Implementation will be achieved within Course and on Cost
This project will affect many people in a positive way and create some city there but we are worried about Tepid Growth that has been shown by Private Sector In Zambia without Gov Involvement
RSA Shopping Mall is not development!!
Slow down on borrowing is NOT good for anyone. Zambia must STOP borrowing.
Away from This topic,
Why is ministry of health and GRZ employing congolese doctors when they know that Zambians have a lot of doctors at the moment. Can someone investigate the corruption going on at ndeke house!
Congolese doctors are flooding zambia due to the connections they have in ministry of health!
Concerned citizen!
With these PF rats anything is possible….we have over 100 heavily armed Senegalese in the emerald area harassing dum Zambians because of these PF rats……
Those houses will just be for the rich
On the 7th day when God was resting, Satan saw a golden opportunity to create Edgar Chagwa Lungu!
Zaf mess?
Is it 1.4 million US Dollars or 1.4 Billion US Dollar? Get your facts right!
Its small when you look at The Investable funds available in these alternatives Investments Global In our areas and Zambian alternative markets in particular if only Investors in the more 40 trillion Dollars can be made aware of Zambian Potential and Vast land and other opportunities presented
Its small in proportion to the available more than 40 trillion dollars available If only you can see
Do you know how expensive doing bussiness in Zambia is ???
Mutati. Does this mean we should now applaud you and pat you on the back? I don’t know how I would feel if a thief who constantly come to rob my house year in and year out comes to “reassure” me that this year he is going to slow down on the robbing.
STOP BORROWING BA KOSWE!
Imagine….. the wanka even thinks he deserves a part on the back for slowing down on stealing. What has education done to Africans? Only created sophistication in crooked and dishonest conduct.Africa Twasebana, a book by late Simon Kapwepwe said it all.We must try learn to create wealth as a country, by our own sweat
Good initiative but how many Zambia will afford to buy the property? It’s being built for rich Ministers and their family who how enriched themselves at the expense of other citizens. When HH talked about borrowing you said He knows anything, He is just Tonga. It’s sad that we are easily deceived! Hope in the next elections Zambia will take more responsibility and avoid being deceived. We have so many corrupt ministers.
Exactly my point…if this was a successful co-op for farmers I would be tap dancing not such which only the rich would afford!!
Of course we will slow down on borrowing because our avenues for borrowing are limited.
This limitation has been brought about by the IMF assessment of our economy.
S&P and MOODYS have us at B3 stable, that is B3 not 1 or 2 but the lowest level of 3
Pressure from international cooperating partners have twisted Mutati ‘s arm to reduce borrowings.
you did not do it on your own………
This is the result of having a young Commander with modern thinking and well educated ! It is dangerous in this era to have a Grade 12 Certificate holding service chief
There is no strategy in what Gen Chimase has done. You can not allow a private development on an air force base. His education and military experience has sadly not be employed on this issue.
Oookayyiiii…..
We never hear of a factory being built. Not even processing plants of any type. A Shopping Mail to sell mainly foreign produced items is negative development. To developed, a country needs to produce goods to sell to its people and also export. Imports are supposed to be on production machinery and technology: not luxury ford rangers . A country with village mentality technocrats who view shopping malls for luxury spending of mostly stolen funds as development is cursed.No wonder Trumps describes African as sh..it.
We need enlighted leadership NOT bakamushi.
Spot on!!
Is this not being built on reserve land meant to protect lusakas aquifers ??
Check the records you will find some if not most of this land was reserved to refill the underground aquifers of lusaka….the Chinese don’t give a damn about your underground clean drinking water…..
I was thinking loud!! I hope we do not end up with empty buildings like those houses built behind Beit & SOS hospital in Lusaka, Kalulushi Napsa housing project. I am told they are pegged @ an exorbitant price! People know the cost of building a 3 bedroomed housing unit. You can not build a 3 bedroomed house, where someone spends K180,000 or so then pegs it @ K1 million and expect it to be bought. The proposal is good but it ends up being tainted with corruption, such that it is becomes a white elephant. Why not build low to medium cost houses in many districts which have potential in economic growth in terms of building industrial zones, so that eventually workers and ordinary folks who are running businesses to access them through reasonable mortgages. So long prices are calculated and…
cont’d…So long prices are calculated and pegged reasonably. Can some one answer me about low occupancy rate in the mentioned areas?
jOKERS – NO ONE WILL LEND THEM ANY MORE MONEY UNTIL THEY PAY BACK WHAT THEY HAVE BORROWED – THE ORDINARY ZAMBIAN CITIZEN WILL BE PUNISHED FOR THE GOVERNMENTS RECKLESSNESS !
WE WANT A DETAILED REPORT ON ALL MONEY BORROWED, ALL MONEY SPENT INCLUDING ALL TENDERS ISSUED AND ALL TENDER APPLICANTS ( I FIND IT STRANGE THAT THE CHINESE HAVE MANAGED TO GET ALL THE WORK FOR ROADS, BUILDINGS ETC IN ZAMBIA) , ALL INVOICES, RECEIPTS,. WE NEED PRIVATE AUDITORS TO THOROUGHLY AUDIT ALL OF THIS SO WE CAN SEE IF THE AMOUNT OF MISAPPROPRIATION OF FUNDS THAT HAS TAKEN PLACE !!!!
…who in his or her rightful mind would risk lending money to Zed..?..just say there is no one prepared to lend us money until we clear some of the overflowing debts….slow down wakwisa..??
This is a US$1.4 billion Kingsland ZAF project being developed with borrowed money. Since, when did ZAF get involved with public private partnership in building houses for the public? Also, 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.
Are these houses going to be used by ZAF personnel or to be rented out or to be sold to ZAF personnel and the general public for cheap after wasting $1.4bn? This money should have been used for water and sewerage systems to prevent future cholera and improve the health and education systems. Lungu is so feeble and corrupt because chimense has managed to manipulate him so that he…
can personally benefit in this deal.
Mutati you are not capable of doing things in a straight manner your track record shows this! I will always give an example of that BBC documentary when you and chief Mukuni (open defecator) went to China to dubiously sale off national assets during the Rupiah regime. Burrowing is not the problem the problem is how the money is used. Your signature allows the funds that are used to pay for useless SUVs, allowances. abnormal salaries, fake govt contracts etc etc to be released so what is happening is the donors are wising up. Now you being blind to people’s suffering will opt to use our own resources to fund these bad habits of the govt! Shame!!!!
Mutati you are not capable of doing things in a straight manner your track record shows this! I will always give an example of that BBC documentary when you and chief Mukuni (open defecator) went to China to dubiously sale off national assets during the Rupiah regime. Burrowing is not the problem the problem is how the money is used. Your signature releases the funds that are used to pay for useless SUVs, allowances. abnormal salaries, fake govt contracts etc etc to be released so what is happening is the donors are wising up. Now you being blind to people’s suffering will opt to use our own resources to fund these bad habits of the govt! Shame!!!!
What you are saying is at variance with the president whose attitude is to keep on borrowing for reasons the citizenry has come to believe is more for the opportunity of personal gain than national interest. Lungu will unashamedly, push the debt agenda at all costs. You could very well be in the firing line for making that statement Mr. Mutati. Watch your back! You could go the route credible Mulusa went.
You have done well Mr. Minister! The working government.