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CEG welcomes closure of Alliance University

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The Center for Elections and Governance (CEG) Zambia has welcomed government’s decision to close Alliance University College of Ndola.

CEG Zambia Trustee Gershom Musonda said the country’s education system is being weakened by sub-standard education services by the private sector.

Mr. Musonda said this in a statement released to ZANIS in Lusaka today.

Mr. Musonda observed that some private colleges and universities in the country were offering low quality education and poor infrastructure.

He also charged that the caliber of lecturers and graduates is weak to benefit Zambia’s development process.

Mr. Musonda added that the private education sector is taking advantage of desperate school leavers who want to further their education.

He however expressed sadness that Alliance University College was allowed to start operations and continued to offer poor education standards with the knowledge of education authorities in Ndola.

Mr. Musonda also blamed the Provincial Education Officer for allegedly allowing the institution to exist.

The CEG Trustee has further asked government to refund the students who were affected by the closure.

He commended Copper belt Provincial Minister Mwansa Mbulakulima for taking action to close the school.

He has since urged the Ministry of Education to conduct regular inspections on infrastructure and other standards that learning institutions should meet.

ZANIS/ENDS/CM/GK

MP Office enhances participation of Electorate

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Kasempa Mp Kabinga Pande says the opening of the Kasempa constituency office has enhanced the participation of the electorate of issues of national development .

Mr. Pande who is also Foreign Affairs Minister said the electorate in Kasempa constituency now under stand the role of the Member of Parliament and are able to positively and effectively contribute to any developmental activities.

Mr. Pande told ZANIS in an interview that as a result of the easy access to the office and information exchange with the electorate, a number of projects have been identified and implemented.

“I am happy therefore with whatever achievements we have scored. It’s because of the full involvement of the people and government efforts,” said Mr. Pande.

He stated that it is important to put service above self if development is to be achieved saying what drives him to serve the people of Kasempa is hard work.

“I love hard workers and focussed people. And its only through hard work that we can achieve something. And hard work must be seen and not pretended,” emphasized the Kasempa MP.

Mr. Pande is in Kasempa to check on development projects embarked on by government and those being worked on by cooperating partners.

Meanwhile, Kankolonkola clinic in chief Inguleka area has been operating without either hydro or solar energy for over three years.

This come to light light when Mr. pande visited the Clinic yesterday.

Clinical officer in-charge Lickswell Phiri told Mr. Pande and his entourage that though the staffing level is adequate and the supply of drugs effective, the clinic has been operating without electricity for a long time.

Mr. Phiri said the clinic which has a catchment population of over 6,000 has been doing delivery works using candles.

Mr Pande who also toured the Kankilonkolo Police Post, pledged to liaise with the Ministry of Home Affairs to see what can be done to alleviate the hardship the officers were facing especially that of non availability of water and transport.

He said it is government’s plans to improve the living conditions of police officers where ever they may be.

ACSZ to rake K4.5 billion in the 2008 Lusaka show

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-The Agriculture and Commercial Show Society of Zambia (ACSZ) has projected to rake an income of K4.5 billion during this year’s show in Lusaka.

Last year, the ACSZ had projected to raise K3.7 billion.

ASCZ president, Paul Mumbuluma, said the society was expecting over 140, 000 show goers in this year’s 82nd Agriculture and Commercial Show, whose theme is “Growth in Diversity”.

Speaking at a media briefing in Lusaka today, Mr. Mumbuluma said the show society has also decided to maintain last year’s show gate entry fees, which stood at K15, 000 per day for persons above the age of five years.

He said the guest of honour to officiate at the show is yet to be announced.

He has further disclosed that a new hall has been constructed to cater for both large and small scale miners in the country.

He said this would the first time that miners would be exhibiting at the annual event after a long period of time.

And Mr. Mumbuluma has revealed that only livestock from Lusaka and Central provinces will be exhibited at this year’s show.

He said no animals from Southern Province will be exhibited due to the presence of Foot and Mouth Disease (FMD) in that area.

Mr. Mumbuluma has also assured show goers that the show society will provide more than 100 security officers who will be complimented by 130 cadets and scouts.

He said selling and drinking of alcohol in the show grounds will not be allowed from 06:00 hours in the morning to 16:00 hours in the afternoon.

He added that the society would not condone disorderly behaviour arising from excessive consumption of alcohol.

Mr. Mumbuluma said the society has also trained more than 700 majorettes drawn from twelve schools in Lusaka and Kafue to perform in mass movement.

He added that the cultural display would also consist of about 450 local artists who were expected to be supported by 100 cultural performers from countries with whom Zambia has cultural exchange programmes.

Meanwhile, Mr. Mumbuluma said the ACSZ has introduced the best media coverage of the show award, which would be presented to both the print and electronic media institutions that would emerge winners.

He said the award was aimed at rewarding media institutions that would cover the show extensively.

The Agriculture and Commercial show will be held from 30th July to 4th August this year under the theme “growth in diversity”.

ZANIS/CM/KSH/ENDS

Exempt Certain Customers from new Tariffs, NWASCO tells LWSC

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The National Water Supply and Sanitation Council (NWASCO) has directed the Lusaka Water and Sewerage Company (LWSC) to exempt from paying new water tariffs, customers that received water for less than guaranteed hours.

The directives come in the wake of findings that the LWSC has been providing water below the guaranteed service hours in some areas within its jurisdiction.

NWASCO management says provision of water by Lusaka water and sewerage has not been done in good faith because it has consistently provided water below the guaranteed services hours in certain areas.

NWASCO Public Relations and Communications Officer Katendi Wandi disclosed this in press statement released to ZANIS in Lusaka today.

Ms. Wandi said water tariffs must be adjusted in areas where the guaranteed service was not provided.

She said the approved tariff was based on the said service level guarantee, which indicated that the Lusaka water utility company has not provided the tariff.

“In order to protect the customers from exploitation, NWASCO has directed that all customers receiving water supply for less than the guaranteed hours of supply and are on fixed tariff rate, will not be affected by the new approved tariff that is expected to be implemented by June 2008,” she said.

Ms Wandi explained that NWASCO would ensure that customers that were not getting water for the guaranteed hours were not affected by the new tariff until the time the water regulatory body would be satisfied with the services of the LWSC.

The areas affected by the tariff sanction are Chilenje areas, Sanduluka, Burma, Mosi-O-Tunya and Muramba roads. Others are Garden site three and four and Lungu area.

She said NWASCO would continue with it’s inspections in order to isolate other areas that may be included in this tariff sanction.

She has since informed all customers to look out for the service level guarantee display that specified the service they should expect.

ZANIS/VP/KSH/ENDS

Celtel listing explained

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Celtel Zambia Limited Finance Director Randell Hato says the over 20 percent that his company recently listed on the Lusaka Stock Exchange (LUSE) are in line with the Citizen Economic Empowerment Programme.

Mr. Hato said the share listing on the countrys only stock exchange market was also aimed at stimulating the stock exchange market.

He said this when he addressed some Celtel subscribers at the on going Euro Money Zambia Investment Conference in Lusaka yesterday.

He said the company also deliberately gave priority to individual Zambians, institutions and its employees before a few selected international investors as the share percentage listed was too big for the Zambian public only.

Mr. Hato said Celtel employees bought a total of 0.1 percent, while the Zambian public was allotted 3.4 percent with domestic institutions being allotted 6.3 percent and selected international investors carrying 10.2 percent.

And Mr. Hato has attributed the recent network problems most subscribers are facing to the relocation delays of the operation switch from the old Celtel premises to the new building.

He has however assured Zambians that the operation switch will be fixed by the end of this month adding that once it is fixed the situation will normalise.

Mr. Hato also revealed that his company is aiming at connecting 4.6 million subscribers on its network by 2011.

He added that the company has since launched a strategy to further penetrate the mobile service provision market by selling Celtel connected handsets at reduced prices to link more people on the network.

Mr. Hato said although his company has connected all the 72 districts in the country, it was also experiencing challenges to provide services as the country was vast.

There has been growing concern among Celtel subscribers in the country over the company’s failure to provide efficient services.

Zambia still affordable tourist destination – Kaingu

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Government has urged stakeholders in the tourism industry to market Zambia to other countries in the world as an affordable tourist destination.

Tourism, Environment and Natural Resources Minister, Michael Kaingu, said the recently introduced visa fees on tourists from other countries would not make Zambia an expensive tourist destination.

Mr. Kaingu said this during a panel discussion at the Euromoney Zambia Investment conference, which closed in Lusaka today.

He asked the stakeholders to offer competitive prices for their products.

He argued that Zambia was an affordable tourist destination as it has a variety of unique tourism products that other countries did not have.

Mr. Kaingu noted that the money collected from charging visa fees was important to Zambia’s economy, saying it would be used to develop infrastructure, which was key to the industry.

He has since challenged entrepreneurs in the country to invest in the tourism industry by developing places with natural attractive features such as waterfalls.

And Zambia Wildlife Authority (ZAWA) Director General, Lewis Saiwana, has disclosed that the authority would soon begin to issue concessions in game reserve areas to interested investors in order to help develop the tourism industry.

Dr. Saiwana said the move would also help develop infrastructure such as roads in game management areas and make them accessible for game viewing by tourists.

He added that the move would also help protect game animals.

He further revealed that the concession agreements to willing investors would range from 10 to 20 years and a maximum of 35 years in special agreements.

The ZAWA Director General has since challenged Zambians to actively participate in the tourism industry instead of merely seeking jobs in it.

Meanwhile, Sun International Divisional Director, Graham Wood said there was an increase in air traffic to Livingstone city.

Mr. Wood said the increased air traffic was healthy for tourism activities in the tourist capital as it was the mainstay economic activity of the city.

The Euromoney Investment Conference attracted various business delegates from various countries and Zambian entrepreneurs.

He disclosed that his company would commit US$500, 000 to various social programmes in order to help alleviate poverty in the communities around Livingstone.

ZANIS/CM//KSH/ENDS

Mining Companies Suspend Projects due to High Taxes

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Some mining companies in Zambia have suspended works on their expansion projects, because of alleged reduction in profits due to the newly introduced taxes in this year’s budget.

First Quantum Mining Country Manager, Chisanga Puta, cited his companies Mopani Copper mine and Kashime mine in Mkushi as some of the mines that have suspended projects.

He said over 4,500 job opportunities would have been created if these various projects were to be undertaken.

“About 600 jobs could have been created at Bwana Mkubwa mine, 2000 at Mopani on the construction of the shaft and 2000 more at Kashime whose investment ranges between US$150 million and $US200million,’ he said.

He said it has been difficult for his company to raise money for the construction of the roaster due to uncertainties in the mining sector following the introduction of the new taxes.

He stressed the taxes in the sector, including the new ones, which stand at 61 per cent, have left little money for reinvestment by companies.

Government this year introduced new tax regime in the mining sector that include a windfall tax of 25 per cent at the price of $US 2.50 per pound but below US$ 3.00 per pound.

It further increased the mineral loyalty tax from 0.6 per cent on the base metals to 6 per cent effective April 1, 2008.

However, due to the conducive environment for investment in the sector which has been caused by the raising of copper prices on the international market, Zambia has so far recorded about $US3billion investment.

He reiterated that the move by government to abolish the Development Agreement (DA) that was legally binding was a breach of the law.

Mr. Puta said the newly introduced taxes have dented the credibility of the country to the outside world.

He was speaking during a panel discussion on mining, which was held on alongside with the Euromoney Conference that closed in Lusaka today.

He said the mining companies were, from the onset, ready to negotiate with government on the new taxes.

Mr. Puta, however, stated that mining companies were still optimistic that an acceptable mining regime would be agreed upon with government in future.

Chamber of Mines Head, Fredrick Bantubonse, ruled out the possibility of mining companies to pull out following the new taxes.

He however said the reinvestments in the sector by companies would be difficult if no sufficient funds were left after paying the taxes.

Mr. Bantubonse said investors should be seen as partners in the development of the country.

But Managing Partner for Corpus Legal Practitioners, Elias Chipimo, stated that negotiations would have been ongoing if government did not take up the initiative to amend the mines and miners act.

At the same panel, Zambezi Resources Executive Chairman, Willie Sweta, said government and stakeholders should come up with a tax regime that would take into consideration both the needs of the investors and government.

Zambia Consolidated Copper Mines Investment Holdings (ZCCM IH) Chief Executive Officer, Joseph Chikolwa, advised mining companies that had problems with the new taxes to seek audience with government.

He said government was prompted to introduce new measures because of the failure by mining companies to declare dividends.

ZANIS/MK/KSH/ENDS.

Five RDA officers suspended

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The Roads Development Agency (RDA) has suspended five of its officers working at Kapiri Mposhi weighbridge for misappropriating funds.

RDA Head of Public Relations, Loyce Saili has confirmed the development.

Ms. Saili said the five officers were suspended last week after the RDA discovered some irregularities in the financial management at the weighbridge.

She warned that no officer would be spared from investigations once they have been suspected of corrupt practices.

RDA has installed special systems for detect malpractices at the weighbridge.

[ZNBC]

Man 70, sentenced to death

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Acting Supreme Court Judge, Timothy Kabalata has sentenced a 70 year old man and another 42 year man both of Lusaka's kuomboka township to death for aggravated robbery.

This was after 70 year old Simon Nyirenda and his accomplice John SImfukwe 42 were convicted for stealing from Josphine Mupeta's home a bruno rifle, a radio cassette and other personal goods valued at over K7 million while armed with an AK 47 rifle.

70-year old Nyirenda has however been acquitted of murder charges but convicted and sentenced to 20 years on another aggravated robbery charge he committed with another Kenneth Tembo when they stole from Ngoza Zulu household property on November 12, 2002.

Whist robbing Ngoza, they used violence in order to stop her from putting up resistance.

Judge Kabalata when acquitting Nyirenda for murder charges, noted that though Cliford Mambwe died of gun shot wounds there was insufficient evidence to connect him to the murder.

He however convicted the 70 year old man and his two accomplices on two counts of aggravated robbery despite his pleas of having 17 children and 11 other dependants.

[ZNBC]

Celtel Raises $205 million on LuSE

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Celtel Zambia Plc, raised 665.6 Billion Kwacha ($205 million) on Lusaka Stock Exchange (LuSE) in the Zambia’s biggest initial public offering )IPO). The company shares gained 13 percent in its Lusaka trading debut.

Celtel Zambia, which sold 1.04 billion shares, or 20 percent of its stock, for 640 kwacha each, climbed 85 kwacha to close at 725 kwacha, according to Lusaka Stock Exchange data.

Celtel Zambia, the southern African nation’s biggest mobile- phone company and a unit of Kuwait-based Zain, attracted applications for more than twice the number of shares offered.

“I expected the share price to rise because of the high demand in the sale”, Moses Musonda, a 27 year-old vegetable seller in Lusaka who bought 10 shares in the IPO, said in an interview in the capital today. He said he plans to increase his shareholding further.

The company has 78 percent of the country’s mobile-phone market and plans to increase its subscribers to 2.7 million this year from 1.9 million customers in 2007, according to its pre- listing statement.

Celtel Zambia Managing Director David Venn said Celtel had offered 20 percent of its 5.2 billion shares in issue to the public. The IPO was 150 percent oversubscribed by foreign institutional investors and the Zambian public.

Venn said that Celtel International BV would now hold 78.9 percent in Celtel Zambia, with the World Bank’s finance arm — the International Finance Corporation (IFC) — holding 1.1 percent.

Kalaba Dropped, FAZ Denies Night of Fun

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Rainford Kalaba has been dropped from the final 18-man Zambia team to face Swaziland this Saturday in the two team’s second round match of the 2010 World/Africa Cup Group 11 qualifier to be played in Mbabane on June 15.

And Faz has denied media reports that some Zambia players in camp had slipped out of camp last weekend to drink and solicit for sex with prostitutes.

Coach Herve Renard has dropped Kalaba after the Zesco United player failed to turn-up for training camp four days after Zambia regrouped from their weekend league commitments on Sunday.

Kalaba was a non-playing member of the team in their opening Group 11 match away to Togo that Zambia lost 1-0 in Accra, Ghana on May 31.

The midfielder is the second high profile player to be dropped from the team after club-less striker Collins Mbesuma was cut by Renard for failing to report to camp.

Renard meanwhile has handed a recall to City of Lusaka defender Ackson Phiri to the fold after 4 years in the wilderness.

Phiri was a regular under Kalusha Bwalya during his first 12 months in charge four years ago when the defender was still at National Assembly.

Injured striker Jacob Mulenga of French Ligue 1 side Strasbourg is in the team despite his continued recovery from a broken nose sustained three weeks ago at his club.

Striker Felix Sunzu of Avenir de La Marsa in Tunisia has been handed his first call-up under Renard’s charge since the Frenchman took over of Zambia on May 16.

Sunzu together with his young brother Stopira, midfielder of Zanaco, will be one of two sibling pairing in this Zambia team for this weekends outing.

The other is the brothers Katongo; Christopher and Felix.

Meanwhile Faz has issued a statement in denying as lies media reports of some unidentified number of Zambia players where involved in an orgy of sex and beer last weekend at the teams training camp in Lusaka.

“It is unfortunate that some people bent on peddling unfounded and maliciously concocted fabrications are attempting to tarnish the name and imagine of our national team and disrupt the boys focus on the game this weekend in Mbabane,” the statement said.

“They are doing this by peddling a story that some of our boys are engaging in binge drinking and acts of prostitution at Ndeke Hotel (Where they are camped).

“None of the lies that have been broadcast of published relating to beer drinking and prostitution have anything to do with the Zambia national soccer team.”

Zambia leaves for Swaziland on Friday at 07:20 in the morning.

Team;

Goalkeeper: Kennedy Mweene (Free State Stars, South Africa), Kalililo Kakonje (Amazulu, South Africa)

Defenders: Kampamba Chintu (Free State Stars, South Africa), William Chinyama, Nyambe Mulenga (Both Zesco United), Hichani Himoonde (Lusaka Dynamos), Billy Mwanza, Joseph Musonda (Both Lamontville Golden Arrows, South Africa), Ackson Phiri (City of Lusaka).

Midfielders:Felix Katongo (Stade Rennes, France), Stophira Sunzu (Zanaco), Clifford Mulenga (Bivest Wits, South Africa)

Strikers: James Chamanga (Dalian Haichang, China), Christopher Katongo (Brondby, Denmark), Roger Kola (Zanaco), Felix Sunzu (Avenir de La Marsa, Tunisia), Emmanuel Mayuka (Kabwe Warriors), Jacob Mulenga (Racing Strasbourg, France)

Beware of Selfish Politicians, Mpombo

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Defence Minister George Mpombo has warned the people of Milanzi Constituency in Katete of Eastern Province not to be used as political ladders by selfish politicians who do not have the interest of the electorate at heart but their personal gains when voted into power.

Speaking at a meeting at Kalapula Village in Katete yesterday where he was drumming up support for the MMD candidate Reuben Banda in the June 26 Milanzi Constituency parliamentary by-election, Mr Mpombo warned the electorate not to vote for people who have failed them before when they were given the opportunity to be members of Parliament.

He observed that Milanzi constituency has remained underdeveloped because the constituency has stuck to the opposition which has failed to bring development to the area.

He assured them that the MMD government was ready to partner with the people of Milanzi in developing the area and that could only be done effectively if an MMD candidate was voted as MP.

The minister observed that an MMD MP would be their better and effective link to government in presenting their problems.

The Milanzi constituency seat fell vacant last year after the death of Dr Chosani Njovu of the United National Independence Party (UNIP.

Voting takes place on June 26.

Political parties contesting the election include the Movement for Multi-party Democracy (MMD), Patriotic Front (PF), United National Independence Party (UNIP), United Party for National Development (UPND) and the All People’s Congress party (APC).

LCC Needs More Funds for Projects-Makanta

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Lusaka City Council says Government should consider giving the local authority grants that would enable it implement developmental projects in Lusaka’s peri-urban areas.

In an interview with ZANIS in Lusaka, Council Public Relations Manager Chanda Makanta said the Council makes about K20 million per month of ground rates from peri-ban areas out of which 35 percent is ploughed back into the same communities for projects like schools, health centres and other infrastructure developments.

Ms Mankata said the ground rates have not been revised over the years, saying people in peri-urban areas were still paying K10,000 bemoaning its inadequacy to meet the Council’s requirements to develop new structures.

She said there was need to improve people’s lives in peri-urban areas because of the huge population demand for improved services.

She observed that the ward development funds once properly used could help improve services among them the fight against contagious diseases.

Ms Makanta expressed regret that many times funds released by the Council were not used for the intended purposes adding that wrong people managed the funds hence rendering garbage collection difficult.

The Council PR Manager noted that the Council had received complaints George compound, Mtendere and Ngombe residents over the misuse of Ward Development funds.

Ms Makanta underscored the Council’s obligation to improve people’s lives through Ward Developments funds adding that these funds were not for the benefit of individuals but communities.

Meanwhile, Ms Makanta has warned against construction of structures in the city without Council’s approval.

She observed that illegal structures had mushroomed and were substandard making Lusaka city an eyesore.

Ms Makanta said the Council would not hesitate to demolish such structures.

Hosting Refugees is costly-Pande

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Government says Zambia has not refused to host Zimbabwean victims of xenophobic attacks in South Africa but that it needed to be consulted and that adequate resources should be available to host more refugees.

Foreign Affairs Minister Kabinga Pande who is also Kasempa Member of Parliament described hosting of refugees as an expensive venture which required a lot of resources.

Mr. Pande explained that Zambia has hosted too many refugees than any other country in the region.

He explained that though Zambia has a responsibility under the United Nations to host refugees it also has the onus to look after them well.

Mr. Pande was answering a question from Rogers Chayanga in Mufumbwe today who wanted to know why the Zambian Government was refusing to host the Zimbabweans who had been displaced by xenophobic attacks in South Africa.

Meanwhile, Mr. Pande who is in Mufumbwe to meet Movement for Multi Party Democracy (MMD) party cadres and Civil Servants challenged the people of the district to be committed to fostering development in the area.

He said no outsider would develop Mufumbwe but the local people themselves.

Turning to Civil Servants, Mr. Pande said they should exhibit high professionalism.

Mr. Pande who is also MMD Vice National Chairperson called on the party officials in Mufumbwe to work hand in hand with the Civil Servants in a bid to not only transform Mufumbwe but Zambia as a whole.

He urged councillors to be proactive on issues that affect people in their area and not to wait for ministers to tell them what to do.

And speaking earlier, Mufumbwe District Commissioner, Robert Muyutu said despite the growing population in the district and economic investment inflows in Mufumbwe, the district has no Bank.

The Mufumbwe District Commissioner however thanked Government for tarring the Kasempa-Mufumbwe road which he said will boost economic investments in the area.

And in a vote of thanks, a resident George Kapendula called upon government to connect Mufumbwe to the national electricity grid.

Mr. Kapendula said if this is not possible, Government should provide the District with new electricity generating machines as the old ones have outlived their life span

Mr. Pande is on a tour of his constituency to check on developmental activities embarked on by Government and by cooperating partners.

Govt Prods Banking Sector to Reduce Interest Rates

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Government has urged the banking sector in the country to complement its efforts in reducing interest rates.

Commerce, Trade and Industry Minister Felix Mutati said reduced inflation rates and appreciation of the Kwacha against major currencies is among the several efforts by Government to reduce the interest rates.

The Minister said this in his key note address to delegates at the on going Euro Money Investment Conference in Lusaka today.

Mr. Mutati said it is sad that despite several Government efforts to help improve people’s lives by ensuring that they have access to bank loans and other products, the banking sector has not been willing to reduce the cost of money.

He said Government has now opened up the sector to more investment resulting in more international and local banks joining the market in order to help promote competition.

Mr. Mutati disclosed that following the successful establishment of some international and local banks in the country more international banks have expressed interest to open their banks in the country.

He added that once more banks join the market, the situation will result in competition which in turn will compel the banks to offer unique and quality banking services.

Mr. Mutati has said the three economic zones, Government is establishing this year namely the Chambishi, Lusaka south and east are aimed at further industrialising the country.

He added that the economic zones are also aimed at adding value to the products created from the industries and creating employment to Zambians.

And Mr. Mutati has disclosed that Government will soon build one border post facilities at Nakonde and Kasumbalesa border posts in Northern and Copperbelt Provinces respectively to help reduce congestion and expedite cross border trade.

Mr. Mutati further revealed that Government will establish open plan offices with automated operations at the Immigration Department and PACRO offices.

He said the move will help reduce corruption as officers at both institutions will have less personal contact with clients.

At the same gathering African Development Bank Vice President for Corporate Services Arunma Oteh urged the Private sector to focus on building infrastructure such as roads and railways as part of its social responsibility.

Ms Oteh added that the Private sector should also help Government in complementing its efforts by investing in water and sanitation in communities where they operate from.

Meanwhile, the Commerce Minister has urged Zambian entrepreneurs to develop business partnerships in order to broaden their capital base.

Mr. Mutati noted that increased capital base can help entrepreneurs to grow their investments and present them with opportunities to capture a large market for their products.