The Industrial Development Corporation (IDC) has refuted claims that ZAFFICO has been sold to any investor foreign or local.
IDC public relations manager Namakau Mukulebai said that any information to the contrary is untrue.
Reacting to reports that ZAFFICO has been sold to the Chinese Investors, Ms Mukelebai said that the IDC has the mandate to reposition its existing portfolio of companies by ensuring sustainable growth and profitability, with the aim of listing on the Lusaka Stock Exchange -LuSE- for broader Zambian ownership and benefit through dividends
Ms Mukelebai said that plans are underway to list ZAFFICO on the Lusaka Stock Exchange (LuSE) and all Zambians will have an opportunity to buy shares, thereby becoming part-owners of the company.
Ms Mukelebai said that listing on the LuSE will provide ZAFFICO an opportunity to raise cheaper and longer dated capital to finance business growth to spur job creation and enhance domestic resource mobilisation.
This is according to a statement issued to ZNBC news in Lusaka by Ms Mukelebai.
Choices we make in life, vote wisely next time.
When we tell you to vote wisely ati awe ebo mwikwite, baleisa Ku kopala to officially open a toll plaza, more taxes, whats funny that it will be named Michael chilufya sata toll plaza, a man who won 2011 presidential solely due to message on less taxes. Kwakwakwakwa.
– Even Dora still denies that DeadNBC has been sold. All our TV licenses will go to China for the next 25 years or until the debt is paid off.
– Our Mukula is not safe from these Chinese.
Next it’ll be kcm
Hundred people doing the job that one tractor can do!
Its in every individual Zambian and wish that the Industrial Promotion of activities through the correctly thought out IDC should be upped in all industrial sectors from this lumber or timber or agro to machinery and soft industries like education and hospitality We can only encourage IDC to invest in performance reporting across all its sectors to increase the visibility in potential that exists
Rather than dis-investing growing the balance-sheet through funding methods and Co funding should be core for IDC as a vehicle for Industrial development and modernization
Try to work with ambassodor Daniel Funte and partner with the US Department of Commerce and Trade get…
get the capacity support and make resolute Intergrated Plans ,sectorial research reports and performance reports that will change and reshape the now Invisible Zamban IDC There is so much potential IDC posses in zambian sectors as a key developmental finance arm of Gov Its simply beyond the small Investments portfolio in Zaffico You can tell simply by looking at performance reports on the websibe
Bo Namakau there has brought some marketing position ing in the IDC brand but that is only complementary with performance and sectorial research reports We need to see the UNTAD in there and see zambias contribution
That is what a forward looking GRZ should be doing , creating strategic companies , easing them into Zambian public ownership.
Create a glass manufacturing company.
Create a solar panel assembly company.
Create a textile manufacturing company.
You theives.
It like we have a different ideal Its about Investments and Trade in primary and secondary industries In-fact the structure needs review to make it more effective and solid and the Investments policy statement reviewed to align
You can only list and make your companies perform if you make them visible and attractive and visibility is in your integrated reports that shows performance and well researched and drafted
reports that exits investors The primary thing now is to grow the IDC balance sheet rather that offloading in Funding and con funding also and when its ripe at the correct time and timing find a sustainable partner who will further industrialize and not…
I have seen and read the prospectus its like asking to bid your heart land away to someone who may not use the land as per Zaffico You may invite private participation differently like the the way the Willamette national forest is managed and allow private individuals to participate with IDC Zaffico in speculative trades in lumber and to ensure sustainable and restoration also I would not recommend those in the IDC prospectus because those will not attract Investors with capital with a long term view those typical Investors will not be investors of long-term (holding period return in forestry could be over 20 to 50 years and could be very sensitive ) Its better managed by IDC…
own Zaffico with participating interests from Zambians and contracts sold for the cultivation and harvest of lumber like in the Willamette national forest scenario similar to current Zaffico set up Individual Farming in lumber business for new sites and some sites under Zaffico could be encouraged in contractual as a normal business
Lumber business could be highly sensitive to mill overruns therefore issues of restoration and sustainable are important as the investor tries to mitigate the risks to maximize the returns often forest reinvestment or restoration is compromised resulting in diminished yields for future needs
Some of our investors are highly impatient in other words…
exhibit the speculative type There are have a short-term ism approach in investing in Zambians resources It is part of their strategy and cannot be entrusted to run our heartlands
There is also a danger of growing the interest or ownership and hoping to change the use of land away from forest Private partnership in new could be very idea not in these strategic forests One split purchase by one individual buyer buys off the heartland So taking to the market must be in national interest
You can lessons of the path taken also by NEW PAPUA GUINEA AND invite long-term sustainable equity partners in our IDC Zaffico See the Global witness reports 2017 and also client earth
Zaffico can still make a turn arround in its business as IDC majority owned There is future and options in trades and prices on the woods on the CME listed it cannot be simply from such euity investors and most majority Zambians may not but only theirs held by IDC Okay
It can be listed but Foreign Investors must be subjected to the Committee on Foreign Investments in Zambia especially Zaffico being like the heartland If you read through the KK plans It was carefully crafted but we failed to realise value in MMD Lumber business or Timber is big paying business similar to copper and gold It as to be managed I would prefer it remains SOE like others and managed by IDC with contracts sold to individual loggers and farmers similarly and not listed for eventual control by foreigners as its known already in increased call for equity ownership and share
END///
That’s how the denials started about znbc and purchase of planes.
The issue is buying off interests in mukula and ship overseas The valuation of those Zaffico could be very undervalued making it easier for those foreigners already trading illegally in wood and mukula to effectively take hold and control the massive unsustainable harvesting even the dividends paid to kawambwa tea company from illegal proceeds as per ministerial statement may not be available Given the price of mukula any investor will market CAP and effectively control to maximize
If you cannot see “NOVO resources ” in solwezi GOLD prospects , you cannot see the thinking of these investors on taking Zaffico to luse before consolidating its balance-sheet