Investors’ confidence to invest in Zambia cheers ZDA

The Zambia Development Agency (ZDA) has said
it was happy that foreign countries were confident of investing in
Zambia.
ZDA Director General Andrew Chipwende said this during the signing
ceremony of a Memorandum of Understanding (MoU) to construct a
shopping mall in Ndola on the Copperbelt Province at an estimated cost
of about US$30 million.

ZANIS reports that the MoU was signed between ZDA and Manto Investment
Group of South Africa at the Mulungushi International Conference
Centre in Lusaka today, on the sidelines of the 10th Africa Growth
Opportunity Act (AGOA) Forum.

Mr. Chipwende said Zambia had now become a preferred investment
destination in the Sub-Sahara region.

He said ZDA welcomed such investments in the country adding that the
Agency would continue approving investment promotion to potential and
viable investors.

“The MoU signed today is another milestone for us as ZDA and we
welcome such new projects to be undertaken in Zambia. We are proud
that South Africa has found Zambia as her preferred investment
destination,” Mr. Chipwenda said.

The ZDA DG said the construction of the shopping mall on the
Copperbelt was another milestone in new projects in helping to reach
the K2.6 billion target on infrastructure development on an annual
basis.
Speaking on behalf Manto Investment Group, Chairman Michael
Nhlengwethwa disclosed that his company was conducting feasibility
studies and awaited the report before construction works could
commence.
Mr.Nhlengwethwa commended the Zambian Government through the ZDA for
awarding the contract to his firm.

“We are doing feasibility studies before we can start constructing the
project,” he said.

Government has appointed the ZDA to spearhead and promote investment
flows in the country.
[ ZANIS ]