Mon, 19 Jun 2017 09:35:16 +0000
Choma opens up for real estate investment
By MAILESI BANDA
THERE is potential for investment in real estate in Choma since its declaration as a provincial capital which has seen over 70,000 people relocate to the area, Southern Province minister, Edify Hamukale, has said.
The minister said the town was currently facing a housing challenge, adding that those who owned houses had increased the rentals to over 70 percent due to the demand for housing in Choma.
Speaking in an interview with the Daily Nation, Mr Hamukale said the town presented an opportunity for investors in real estate, adding that the real estate sector should take up the challenge and provide accommodation for the increased population in the town.
“The main challenge we have in the new provincial capital is housing. Since its declaration as a provincial capital over 70,000 people have relocated to Choma and the houses are not sufficient,’’ he said.
Dr.Hamukale said the town would soon have a new airport.
“We recently had people from the Ministry of Transport and Communication and National Airports Corporation who came to do a feasibility study on the land earmarked for airport construction,’’ he said.
He said the town had opportunities of investment in real estate, education and health, adding that the growth in the population had affected the access to social amenities.
“We are having other challenges in the delivery of health services and we are in the process of constructing a level two hospital that will have a nursing school so that we continue giving the people quality health services,’’ he said.
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Zambia to benefit from $100m ETG funding
By BUUMBA CHIMBULU
ZAMBIA is among selected African countries which will benefit from the US$ 100 million loan approved by the African Development Bank (AfDB) Group and Export Trading Group (ETG) to promote an integrated value-chain approach that emphasises access to regional and global markets.
The loan, approved on May 30th 2017, is also expected to promote employment for youths and women in the region. ETG’s investment program will consist of fertiliser projects in Kenya and Zambia; processing plants of rice, cashew, maize, sesame, cotton and biscuit in Benin, Ethiopia, Kenya, Mozambique, Nigeria, Tanzania, Togo, Uganda, Zambia and Zimbabwe.
Others are multi-commodity warehouses in Burkina Faso, Malawi, Zambia, Zimbabwe, Niger, Benin, Nigeria and Ethiopia; and Silos in Zimbabwe.
As a pan-African integrated agricultural production, processing and trading company, the AfDB believes ETG has the potential and is the right partner for supporting production, storage, transport, processing, logistics and the capacity to maximize synergies and efficiencies at every stage of the value chain continuum.
The program was strongly aligned with four of the top five priorities (Hi5s) of the bank, namely Feed Africa, Industrialize Africa, Integrate Africa and Improve the quality of life for the people of Africa.
It will significantly contribute not only in improving food production in Africa but most importantly in value addition and the wide distribution of food across the continent using the sponsor’s broad distribution networks.
Africa faces a significant food security challenge and continues to depend on food imports to meet ever-growing demand.
The continent spent over US $35 billion to import food in 2015 and net food imports are projected to increase to more than US $110 billion by 2025.
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NATSAVE signs K2m deal to support South farmers
By BUUMBA CHIMBULU
A K2 million memorandum of understanding (MoU) for a pilot project in Southern Province aimed at increasing smallholder and emergent farmer access to water and irrigation solutions, has been signed by National Savings and Credit Bank (NATSAVE) and Musika.
The scheme, which would be piloted in Chikanta area in Kalomo district of Southern Province, will run for a period of one year.
The MoU includes a financing mechanism for small scale farmers that covers the drilling of 20 boreholes and other irrigation solutions, including after-sales services in the area.
Speaking at the MoU signing ceremony in Lusaka, NATSAVE managing director, Cephas Chabu, said access to finance was key to growing the agriculture sector which was one of the key focus support areas for the bank.
Mr Chabu said farmers would be expected to open accounts with the bank at the branch in Choma for them to be able to access the funds.
“This partnership will scale up operations for small scale farmers in the area. Southern Province has water challenges and therefore the drilling of 20 boreholes will assist farmers with irrigation,” he said.
And Musika managing director Reuben Banda said the intervention was expected to increase smallholder production of irrigated crops while providing enough water for livestock.
Mr Banda said the scheme would also enable farmers to diversify their production to include horticultural crops amid the growing concerns on the effects of climate change, thereby extending the growing season beyond the rains.
He said Musika was currently working with 380,000 smallholder farmers and 71 agricultural businesses countrywide which include NATSAVE.
He said about 12,000 households living in Chikanta chiefdom would have the assurance of additional opportunities to increase their income.
“The partnership provides an opportunity to demonstrate private sector engagement through strategic alliances between the financial sector and agricultural equipment market and the farmer in respect of market pro-activeness to weather risks,” Mr Banda said.
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ZCCM-IH sees big future for mining
By BUUMBA CHIMBULU
THE much improved business environment in the sub-Saharan region and favourable demographics are poised to support growth in the mining sector over the coming decades, says the Zambia Consolidated Copper Mines (ZCCM-IH).
According to ZCCM-IH 2016 annual report released this week, the improved business environment in the region would anchor medium-term growth prospect.
“The underlying drivers of growth in sub-Saharan Africa that have been in play domestically in the region over the past decade most importantly, the much improved business environment generally continue to be in place, and favourable demographics are poised to support these drivers over the coming decades,” reads the report.
And the State-owned mining giant indicated that it experienced low to static growth owing to the challenges faced by the mining sector in general.
It said the negative growth was compounded by low commodity prices, particularly copper, due to increased supply on the market and reduced demand mainly in high copper consumer countries such as China.
“The mining sector was faced with a significant energy deficit which affected production negatively and consequently led to a reduction in revenues. As a result of the foregoing, investment in the mining sector was reduced and mainly concentrated on consolidation of already existing operations,” reads the report.
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Indian firm to invest in coal and manganese mining
BY CHIKUMBI KATEBE
INDIAN firm, Pure Trust Trading (PTT), has expressed interest in opening up coal and manganese mines in Zambia as business looks promising in the country, says Zambia’s High Commissioner to India Judith Kapijimpanga.
And Ms Kapinjimpanga has also disclosed that PTT was interested in buying 500 to 2,000 metric tonnes of Zambia’s coal and manganese.
She said that was not the only company that had expressed interest in bringing investment into the country, adding that many more companies had shown interest to do business with Zambia.
“An Indian firm, Pure Trust Trading, is interested in buying 500 to 2,000 metric tonnes of manganese and coal.
“Many parts of the country especially Luapula Province have a lot of mineral resources such as manganese while Southern Province has numerous coal deposits,” Mrs. Kapinjimpanga said.
She said she had already communicated with the concerned ministries including Foreign Affairs, Commerce, Trade and Industry, the Ministry of Mines and the Zambia Development Agency (ZDA) for implementation of the business project.
This is according to a statement made available to the Daily Nation by the first secretary for press and tourism in New Delhi, Bangwe Naviley.
The high commissioner had expressed appreciation of foreign investments that culminated into value addition within the mining sector to create jobs and skills transfer for the local people.
She said Zambia was looking for trade with other countries such as India to bring about increased foreign exchange earnings and job creation in the country.
