9.5 C
Alba Iulia
Monday, June 27, 2022

Cleaning Association lauds HH for US$ 1.2 billion FQM investment

Headlines Cleaning Association lauds HH for US$ 1.2 billion FQM investment

The Cleaning Association of Zambia has commended President Hakainde Hichilema and the New Dawn administration for attracting over 1.2 billion dollars foreign direct investment at the recently held Africa Mining Indaba.

First Quantum Minerals last Sunday said its board had approved plans for a $1.25 billion expansion of its Kansanshi mine in Zambia, a decision it said was prompted by renewed confidence in Zambia’s investment climate following President Hichilema ascendency to power.

Association President Lawrence Makumbi stated that the announced investment by First Quantum Minerals is welcome as it will change the face of mining in North Western Province.

He said the last time such a huge investment happened in North Western Province is 10 years.

“This announcement is wonderful news to the people of North Western Province and Zambia as a whole. We wish to commend President Hichilema and his New Dawn administration for this achievement,” Mr. Makumbi said.

Mr Makumbi has since appealed to the Ministries of Mines and SME Development to ensure that 80% of contracts to be derived from the investment are allocated to Zambian contractors.

He said in the past, foreign contractors enjoyed the Lion’s share of the contracts even for goods and service that could be supplied by local contractors.

“This time around, we want Zambian contractors to enjoy the fruits of this investment. They now have capacity and experience to meet these Orders unlike 10 years ago.”

Mr. Makumbi said President Hichilema should task his Ministers at Mines and SME’s to ensure that they prioritize local contractors at FQM operated Mines.

He said government should ensure that the 1.2 billion dollars is not extrnalised by implementing preferential procurement using local contractors.

Mr Makumbi has since challenged Banks to come on board and support local SME’s with financial solutions to enable them grow their businesses.

“Now that the investment is flowing, we now want the Banks to come on board and support local SMEs with financial products to enable them grow and meet the supply Orders. What is true is that even these foreign firms, they age supported by Banks from where they are coming from, most of them don’t even manufacture most of the items they supply here, they are just importers or traders and Zambian contractors should also supported in a similar manner,” he stated.

15 COMMENTS

  1. “…..He said government should ensure that the 1.2 billion dollars is not extrnalised by implementing preferential procurement using local contractors….”

    Other countries would have made sure most of the borrowed money in the past 10 years was directed at revamping the local manufacturing for supply to the mines…………

    It is not too late , let’s not gift jobs to SA and China………

    Priority should be to manufacture supplies to the mines………

  2. Zambia has got a cleaning association??? The DIRTIEST country in Africa has got a cleaning association??? Well, you haven’t been doing a very good job, have you, apart from hiding under a stone!!!

  3. Just the name Makumbi says it all. Does even the break down of that 1.25 b dollars? That’s a lot of money just to expand the mine. Let’s not excited.

  4. Useless organisations who pays into this association …any fooooool can go to the registrar and register any body nowadays…I mean how does this benefit your members if you have them? Look at the filth in Lusaka or Ndola that should be your concern

  5. Brilliant, the 1.2 billion in US Dollars is a very good injection to the economy economy. It does not matter whether it is in a private company or Private organisation, but as long as it is pumped into that Zambian entity, employment becomes a sure deal. Peoples lives will change obviously. Good move.

  6. This associations fights for contracts to go clean hotels and lodges. But their members come from dirty surroundings in town ships and shanties.
    Even when HH went clean a street in Lusaka…this association was abscent.
    By the way the street the PRESIDENT cleaned is back to its filthy state again.

  7. Makumbi do not just be a praise singer, try to understand UPND strategy. Understand that the reason HH and others prefer a devalued Kwacha is to make man power resource cheap. As for tax holiday, Paul Kagame was to the point. Who would refuse to come to Zambia and invest billions?

  8. Ma rubbish…of what benefit to the people of Zambia! Even if the mining firm push in 5 billion dollars this country is getting zero.. because of the tax holiday on mining companies… Zambians we need to push in a law that states a 51% share to be giving to the people of Zambia which the current government has failed to do so.. Politicians are taking us for granted.. Hichilema promised heaven on earth but he is going the opposite direction..let’s give him one term, surely how can foreigners be more important then your own brothers and sisters! This government is a disgrace.

  9. Money hat we will never see. Only the so-called investor can see it and lie about it to our government. Where are our tax earnings?

  10. “Money that you will never see” yes,true that. But only if you are a PF cadre. Cos all ordinary citizens are changing their lives with CDF alone before even talking of such investments.

  11. You see, the problem is that PF cadres announced themselves too loud: Everyone, including kids well know all the PF cadres as they were brutalisinng citizens for the past 10yrs. Hence even if a PF cadre wanted to apply for CDF, it becomes impossible! Cos he can easily be spotted on the CDF queue and people will demand that uyu mustnt be here cos he is part of the cliche of thievs that brutalised us, Even the cadres themselves, like most of these bloggers on Lusaka Times, know this fact, hence they wont even dare to go near any GRZ or private company program cos they terrorized citizens to the core.

Comments are closed.

- Advertisement - UNICAF

Latest News

RUGBY :Arrows Bury DIGGERS to Cement Top Spot

Defending champions Red Arrows consolidated their stay at the top of the National after thrashing Diggers 33-08 in Lusaka...

More Articles In This Category