By STEVEN ZANDE –
A SOUTH African based property developer plans to invest US$200 million in the construction of warehousing and shopping facilities countrywide.
Actis has noticed that Zambia is an attractive investment destination because of its demand for imported products.
Company partner Louise Deppe said Zambia imported a lot of products from abroad and this created a demand for warehousing facilities.
Speaking at the opening of York Commercial Park in Lusaka, Mr Deppe said Zambia was an emerging economy that had huge potential for growth.
“We mobilise capital and deploy capital in emerging markets such as Zambia. We are involved in Mandahill and a lot of other building activities in the country,” Mr Deppe said.
He said Actis in partnership with IMPROVON, a fellow South African firm, had since constructed a commercial park at the cost of $12 million.
Mr Deppe said York Commercial Park was specialised in the distribution of property and construction of energy efficient buildings.
He said the properties to be constructed were energy efficient, hence would not affect power consumption in the country.
Mr Deppe said the construction projects would create jobs by employing the local population to build facilities.
Zambia Development Agency (ZDA) M-PHASE project manager, Robert Banda said the development of modern warehousing facilities would ease congestion at existing facilities.
Mr Banda said the concept was a shift from old warehousing that was done without adequate regard to security and access to markets.
York Commercial Park, which was formerly York Farm, was now under the ownership of Actis. The new owners had maintained the name to identify with the local community.