KASOLO

By JAMES KUNDA-
THE Chembe Multi-Facility Economic Zone (MFEZ) is expected to start developing this year, following pledges by potential investors to establish business ventures there, Luapula Province Permanent Secretary Chanda Kasolo has said.
Mr Kasolo said in an interview that Government had allocated 3,700 hectares of land for the development of the Chembe MFEZ, which is expected to rake in an average of US$5 million worth of investment, per business.
He said that the presence of the MFEZ in Chembe would create several business opportunities for people living in surrounding areas, including the neighbouring Democratic Republic of Congo.
“The Chembe MFEZ is another concept of the Zambia Development Agency aimed at creating wealth and jobs for the local people and its location is ideal to this front.
“Soon, the Ministry of Commerce is expected to announce the Board of Directors for the MFEZ and then investors will begin to move in,” he said.
Mr Kasolo said so far, four companies are willing to be lead investors in the MFEZ that would accommodate a minimum of 100 business units.
He said the development would turn the newly created district into an economically viable region, as the companies that would be operational in the MFEZ, will provide in excess of 6,000 direct and indirect jobs.
“Government is excited at the development and will closely monitor expansion of the MFEZ so that Zambians are empowered to migrate from Small and Medium entrepreneurs, to large Scale business people.