By Nawa Mutumweno – Zambia is this year scheduled to receive $1 billion from India in foreign direct investment (FDI) and from Indians living in Zambia. According to Commerce, Trade and Industry minister Felix Mutati, of the $1 billion, about half was projected to come from Indians living in Zambia while the other half would come from Indian investors. Addressing the Indian business community in Lusaka recently under the auspices of the Indian Business Council of Zambia (IBCZ), Mr Mutati acknowledged India as Zambia’s biggest investment partner with figures standing at over $3 billion. Unlike most large-scale investors in the... Continue Reading
Publish Date: Wednesday, February 9th 2011 |
By Nawa Mutumweno – Mining companies have contributed about $7.7 million to the Environmental Protection Fund (EPF) which was set to protect the environment from pollution. According to Ministry of Mines and Minerals Development permanent secretary Godwin Beene, over 40 small and large-scale mines have contributed to the fund since its establishment in 2007. Dr Beene disclosed this when he appeared before the Parliamentary Committee on Economic Affairs and Labour, which was looking at how much revenue mining firms are contributing to the national treasury. One of the objectives of the EPF is to provide protection to the government against... Continue Reading
Publish Date: Wednesday, February 9th 2011 |
By Nawa Mutumweno – Zambia Electricity Supply Corporation (ZESCO) plans to upgrade the 220 kV Kafue town- Muzuma-Victoria Falls transmission line to 330 kV at a cost of about $50 million. The Kafue-Muzuma-Victoria Falls line upgrade involves upgrading the current existing line to a 330 kV power line from Kafue town substation to the proposed Zimbabwe-Zambia-Botswana-Namibia (ZIZABONA) substation in Livingstone, Southern Zambia. ZIZABONA, a $225 million transmission project which would develop new transmission lines to link the four countries expected to be completed in two phases between 2010 and 2013, would make it easier for these countries to trade power... Continue Reading
Publish Date: Friday, January 28th 2011 |
By Nawa Mutumweno – Loita Capital Partners International, a pan-African investment banking firm with strong roots in Zambia is to host the first ever Zambia Mining and Energy Indaba at Mulungushi International Conference Centre (MICC), Lusaka from May 4 – 6, 2011. Information obtained from the company indicates that the forum is poised to give investors and mining houses an opportunity to understand the vast potential in the country for mineral and energy resources. The Indaba will bring together investors, financiers, mining houses, policy makers and other relevant stakeholders. “The Indaba will focus on project showcases, issues affecting the mining... Continue Reading
Publish Date: Monday, January 24th 2011 |
By Nawa Mutumweno – Government is to set up a Venture Capital Fund this year with seed money amounting to $4 million to provide equity financing to small and medium enterprises in the country. According to the minister of Commerce, Trade and Industry, Felix Mutati, the fund once functional will help SMEs grow their businesses. “This fund will be under the Zambia Development Agency and is coming in the first quarter of 2011 to provide equity finance, targeting the SNEs. We will initially start with $4 million as seed money,” he pointed out. He was speaking at Lusaka ‘s Mulungushi... Continue Reading
Publish Date: Wednesday, January 19th 2011 |
