Wednesday, April 17, 2024

NAPSA Signs $650 Million Agreement to Upgrade Lusaka-Ndola Dual Carriageway

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The National Pensions Scheme Authority (NAPSA) has inked a momentous deal worth $650 million with Macro Oceans Investment Consortium (MOIC) to kickstart the transformation of the Lusaka-Ndola dual carriageway.

In a ceremony marking the signing of the agreement, NAPSA Director General, Muyangwa Muyangwa, disclosed that the ambitious project encompasses the upgrading of the 327-kilometer road, along with the rehabilitation of the 45-kilometer Luanshya-Fisenge-Masangano route.

Muyangwa elaborated that under this agreement, Macro Oceans Investment Consortium will embark on a 25-year concession period. During this time, the consortium will handle the financing, design, construction, and maintenance of both roads.

Myra Ngoma, Vice Board Chairperson of NAPSA, emphasized the profound benefits anticipated from the construction of the extensive road network. Ngoma highlighted that beyond enhancing connectivity, the upgraded roads will catalyze economic growth in urban and rural areas along the corridor. Additionally, the improved transportation infrastructure is expected to facilitate the movement of goods, further stimulating economic activities.

Representing the Workers Compensation Control Board, Laurian Haangala expressed confidence in the long-term advantages of investing in road infrastructure. Haangala asserted that such investments are poised to yield dividends for Zambia for years to come.

E. Shangfa, the representative of Macro Oceans Investment Consortium – LN Consortium Limited, exuded confidence in the timely completion of the project. Shangfa pledged that the construction of the road would be finalized within a span of three years.

The signing of this monumental agreement marks a significant step towards the modernization and development of Zambia’s transportation infrastructure. As the project progresses, expectations are high for the socio-economic transformation it will bring to communities along the Lusaka-Ndola corridor.

25 COMMENTS

  1. You lend money to an investor to construct/ rehabilitate your road.

    Once the works are complete, for the next 25 years you pay toll fees to the investor.

    The investor uses the money that you have paid him in toll fees to pay you back the loan you gave them.

    Is there something I’m not understanding in this arrangement?

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  2. @His Master’s Voice, you are basically a simpleton or low intelligence and do not have any understanding.

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    • To you @BlackMan and all praise singers calling me names for expressing my views and concerns, allow me to quote Dr. Field Ruwe:

      “…those who lack personal achievement tend to resort to embracing nationalistic tendencies in order to compensate for their own inadequacies. They passionately defend their country’s shortcomings to artificially bolster their false sense of commitment to nation building.”

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  3. How many times has this road been fixed? that’s almost the same price for contracting two airports. Someone is going to have a payday. It was this same party that said quality roads will be contracted at a good price.

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  4. The lender is NAPSA and Workers’ Compensation Fund Control Board as institutions, lending like a bank, for repayment with interest. There is no law restricting anybody including foreign entities from borrowing to pay back with interest on terms.

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    • @RAZOR sharp konkola blades..

      It is an improvement from single lane to double.

      ”..Muyangwa Muyangwa, disclosed that the ambitious project encompasses the upgrading of the 327-kilometer road.. ”

  5. Napsa was handpicked by GRZ in this PPP. Why didn’t we go for NRFA or RDA? No one has hinted why Napsa was singlehandedly chosen for the project. They should also explain whether Napsa with WCFCB will always be the sole financier of such road projects or if others along the way will be introduced and with what criteria. Who will find other roads of less economic activities, but have rural social bias if GRZ seems to abandon some of their responsibilities in roads facelift?

  6. To @BlackMan and all praise singers calling me names for expressing my views and concerns, allow me to quote Dr. Field Ruwe:

    “…those who lack personal achievement tend to resort to embracing nationalistic tendencies in order to compensate for their own inadequacies. They passionately defend their country’s shortcomings to artificially bolster their false sense of commitment to nation building.”

  7. NAPSA is a cash cow in politicians’ hands. They milk it for their direct and indirect benefit. All investments NAPSA had made in malls, pickets of lands, milling companies, wonderful tiles, livingstone hotel and now Ndola Lusaka TOLLGATE road project are tools to steal pensioners money through shrewd mechanism. NAPSA has non-performing and below-average performing investments. It shall be closed. Another failed projects for Zambians and a ugly fat cow to milk by politicians, bureaucrats and cadres dominated boards.

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  8. I think the real cost of constructing this road is the total cost of toll fees for 25 years less the loan amount from NAPSA and Workers Compensation Fund Board. Hon Milupi and his colleagues must be magnanimous enough to tell the Zambian people the actual cost. The peddled lies that the cost had been halved from what PF had estimated amounts to crookedness.

  9. In 2026, we will still be talking about this road. How many times is this road going to be funded? The PF funded this road and HH came up with his usual I know it all mentality and re-evaluated the road. What we need is to have this road done with no stories at all. What happened to the initial plan for this road other than us the people who fund NAPSA and pay taxes being fed stories by HH and his team. We have a clueless crook and his clueless minions. Next we will be shown a graph we zero works on the road.

  10. our Gid what has Africa done to deserve this? If what is going on now on the Lusaka Ndola dual cartiage way is anything to go by then this is one of Africas big jokes. Very soon we might have a movie performed to exemplify this circus. We wait to see the type of road. The money is Zambians pensions fund. The deal does not say how much the other party contributes. But they get to manage and get the returns for 25 years. What do the owners of the money get?

  11. It’s a pity, we are funding this project as a country, yet, the foreign firm will undertake to benefit fully out of the tollgate income, for a very long period of time. One wonders who has bewitched thiß nation..

  12. NAPSA will make a profit from lending the money. The contractor wanted to borrow from a bank abroad – in which case a foreign bank was going to benefit – but the government prevailed on the contractor to borrow lically. The contractor is going to maintain the road for the whole 25 years and resurface the whole dual carriage way one more time at the end.

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