Thursday, June 13, 2024

Prevailing economic stability encouraging private sector participation -ZDA

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The Zambia Development Agency (ZDA) says the prevailing economic stability in the country is encouraging private sector participation in investing in Zambia.

ZDA acting Director General Albert Halwampa says the country has been seeing more actualized investment since last year.

Mr. Halwampa stated that a country can only thrive economically when investment pledges are turned into reality to enhance job and wealth creation.

He said was speaking in Chilanga today when ZDA signed an Investment Promotion and Protection Agreement (IPPA) with Wonderful Group of Companies at United Capital Fertiliser plant.

Mr. Halwampa said the erection of the United Capital Fertilizer plant by Wonderful Group of Companies in Chilanga district is one such private initiative that the agency is proud of as it has been developed from a  business concept to where it is today.

He said the agreement is meant to protect the interests of the company and other rights in the country.

Mr. Halwampa intoned that the type of investment the company was involved in is helping Zambia in the agriculture sector.

He has since commended the company for having increased its investment to over 400 million United States dollars from the initial 100 million.

He urged other investors who have made pledges to actualize whatever they want to do in the country.

And Wonderful Group of Company Board Chairperson Chance Kabaghe reiterated the company’s commitment to invest in the country and become a regional supplier of fertiliser.

Mr. Kabaghe said the company will ensure it produces fertilisers all year round so that it is readily available.

He also said the company will continue to work towards making its fertiliser cheaper than what is prevailing in Zambia.

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