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Friday, January 7, 2022

Invest in job rich sectors-Finance Minister urges IDC

Economy Invest in job rich sectors-Finance Minister urges IDC

Minister of Finance and National Planning Dr. Situmbeko Musokotwane says the IDC Group of Companies should take advantage of their numbers and invest more in job-rich sectors of tourism and construction, to foster economic transformation and wealth creation.

Speaking during the official opening of the 5th IDC Annual Group Conference held at Avani Hotel in Livingstone over the weekend, Dr. Musokotwane said that it was the Government’s plan that the IDC takes the lead in spearheading value addition and job creation in the key priority sectors of tourism, manufacturing, agriculture and mining.

He encouraged Chief Executive Officers and the Board Members, who were delegates at the Conference, to seize opportunities in the Multi-Facility Economic Zones, farming blocks and other growth projects to move their organizations to the next level.

Meanwhile, speaking earlier, Mr. David Kombe, who is the Chairperson of the Finance and Administration Committee of the IDC Board, said that despite some challenges recorded, including the Covid-19 pandemic, a good number of companies had demonstrated resilience, judging by their overall performance in the 2020 and 2021 financial years.

Mr. Kombe commended the IDC Group Chief Executive Officer as well as Boards and Management teams of the subsidiaries and investee companies, who worked hard to adjust their operations and adapt quickly to the changing business environmental.

8 COMMENTS

  1. We the caring citizens of Zambia would not like the value addition to be another song added to a string of songs politicians sing during and after elections .
    We want things to turn around at this level we have reached every thing has advanced through all the previous administrations, we want non of the jobs in the nation not to be faced out and sent to other countries as was the case in 1991 .
    Please look after our people with much care and don’t allow them to fall into deeper poverty than where your predecessor party left them .

  2. Too many beer belly drinking stomachs on the picture. Nearly everyone looks unfit physically. We are in trouble !!!!!

  3. This IDC needs restructuring with surgical precision. Big companies such as ZESCO, ZAMTEL, ZCCM IH need to be taken out of this cinderella outfit for pineapple and palm oil factories. The demands and international competition for the big companies is fierce. They need to be agile and make decisions swiftly. For example the CEOs and boards at MTN and AIRTEL are purely focussed on telecoms. They are not overloaded with pineapple and palm oil plantations and canneries. That in itself is a huge competitive advantage for multinationals. Add govt bureaucracy to IDC companies and it’s a perfect set up for a white elephant. IDC reminds me of Evans Wilima’s ZIMCO. At least late KK was wise enough to keep ZESCO, ZCCM, PTC out of the ZIMCO conglomerate of loss making and inefficient start ups

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  4. Industrialization is the key, but you have started privatization. So this Job Creation song is just rhetoric not backed by clear plans of what to do. Start by industrializing the Kansenseli Gold Mine. That should be your focus, INCOME GENERATING ACTIVITIES

  5. Nxt IDC annual general meeting should take place in Samfya, after that Mfuwe, so that all parts of the country feel IDC’s presence.

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