As concerns regarding the Zambian President Rupiah Banda’s perceived fruitless trips mount, some huge foreign investments have already starting flowing in much to the disappointment of his critiques. Pledges made to the country are now coming to light with visits of high profile presidents and ministers showing fruits.
Brazilian investors have shown commitment in injecting 1billion US dollars in the ARM valley Konkola North Mining project. The investment comes in the wake of that country’s President Luis Inacio Lula Da Silver’s visit last July.
The president was in Zambia with an entourage of businessmen looking at tapping into the untapped investment opportunities. The country’s investment promoters Zambia Development Agency (ZDA) has expressed delight with the interest shown so far.
ZDA Director Andrew Chipwende tells that DataBank that the investment is a good development for the country as it will contribute to economic development through revenue collection and job creation. He further reveals other areas of interest by Brazilian investors as development of the integrated sugar-ethanol and co-generation of power project in Luena district in the Western Province of Zambia.
“Technocrats in the Ministry of Agriculture and ZDA are closely working with Brazil in areas of ethanol production as that country has perfected this field hence Zambia stands a better chance of benefiting from this,” says Mr. Chipwende.
With the country moving towards the digital revolution deadline of 2015, ZDA is also happy that Brazil is also interested in injecting some finances in the transmission technology which will see digital Television sets and others. On the other hand the Brazilian government has confirmed its new investment partnership with Zambia. Brazilian Ambassador to Zambia Josal Luiz Pellegrino tells the Data Bank that his government has consolidated its agreements to assist Zambia in utilizing bio-fuels. He says a delegation has since been to Zambia to ascertain the needs of the southern African country in development of bio-fuel structure.
“We want to see Zambia emerge from its energy crisis the same way our country did years ago through the utilization of bio-fuels. In order to do so Zambia can maximize on sugar and plants like Jatropha,” reveals Mr. Pellegrino.
Fuel challenges in Zambia
Zambia is faced with a challenge of high fuel prices which have continued skyrocketing. Various stakeholders have complained that this status quo is a major contributing factor to the high cost of doing business in the country.
A shift from conversional petroleum products to bio-fuel is a call that many civil society organisations have been supporting because of its cheaper production mechanisms and clean nature which does not pollute the air.
Investment in transport
The Brazilian government is also looking at investing in bus body repairs for huge buses like Marcoplo as a way of reviving them after accidents. ZDA Director Andrew Chipwende has stated that the plant will be an establishment of its kind in this part of Africa as South Africa is the only one assembling.
By Brian Mwale
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