by Abraham Kalito on 20 Jun 2018by Zondiwe Mbewe on 20 Jun 2018by Mirriam Chabala on 20 Jun 2018by Sipilisiwe Ncube on 20 Jun 2018
- Goal Diggers
by Mazuba Muleya on 11 Jun 2018by BBC Sports on 9 Jun 2018by Mazuba Muleya on 24 May 2018by Abraham Kalito on 17 Apr 2018
by Abraham Kalito on 20 Jun 2018by Stuart Lisulo on 20 Jun 2018by Joseph Mwenda on 16 Jun 2018by Stuart Lisulo on 15 Jun 2018
by Zondiwe Mbewe on 20 Jun 2018by Zondiwe Mbewe on 19 Jun 2018by Zondiwe Mbewe on 18 Jun 2018by Zondiwe Mbewe on 14 Jun 2018
- Editor's Choice
by Percy Chanda, UPND on 15 Jun 2018by Elias Munshya on 11 Jun 2018by Akashambatwa Mbikusita-Lewanika on 31 May 2018by Chibamba Kanyama on 25 May 2018
by Diggers Editor on 20 Jun 2018by Diggers Editor on 19 Jun 2018by Diggers Editor on 16 Jun 2018by Diggers Editor on 14 Jun 2018
by Felix Kashweka on 30 May 2018by Sipilisiwe Ncube on 24 May 2018by Sipilisiwe Ncube on 15 May 2018by Felix Kashweka on 14 May 2018
- Guest Diggers
by Sishuwa Sishuwa on 18 Jun 2018by Sishuwa Sishuwa on 15 Jun 2018by Muleya Mwananyanda on 15 Jun 2018by Sishuwa Sishuwa on 11 Jun 2018
Govt needs US$360m for Zambia-Tanzania-Kenya Power Interconnecter – NkhuwaBy Zondiwe Mbewe on 23 Feb 2018
Minister of Energy Mathew Nkhuwa says government will have to secure US$360 million this year in order to fund the Zambia-Tanzania-Kenya Power Inter connector Project, if it has to meet the 2021 completion deadline.
And Minister of Finance Margaret Mwanakatwe says the country’s total net cash flow as of 2016 stood at a deficit of $981.9 million because the country spent more money on imports of goods and repatriation of profits and dividends.
Meanwhile Minister of Commerce, Trade and Industry Christopher Yaluma says the Multi-Facility Economic Zones are open for any one with money to invest.
The ministers where speaking in Parliament on Tuesday, during the questions for oral answer session.
Responding to a question from Luangeni PF member of parliament Charles Zulu who wanted to know when the Zambia-Tanzania-Kenya Power Inter connector Project would be completed and what had caused the delay, Nkhuwa assured the House that the project would be completed by 2021 if funding of about $360 million was secured.
“The Zambia-Tanzania-Kenya Power Inter connector Project will be completed in 2021 if funding of about $360 million is secured by Zambia in 2018. This project will take 36 months to construct and commission. The cause of the delay is lack of funding and the delayed feasibility study on Mbeya-Kabwe section which was only completed in October, 2017,” said Nkhuwa.
And responding to Nsenga Hill PF member of Parliament Kapembwa Simbao who wanted to know the total net cash flow as of 2016 and how much of the total cash flow was Foreign Direct Investment (FDI), Mwanakatwe revealed that as of 2016, the net cash flow recorded a deficit of $981.9 million because the country spent more money on imports of goods and repatriation of profits and dividends.
“Mr Speaker, the total net cash flow as of 2016 was a deficit of $981.9 million. This reflects that the country spent more money on imports of goods and services and repatriation of profits and dividends than it earned. You may wish to note that the estimate of the total cash flow is directly related to the current account. The Foreign Direct Investment flows in 2016 was $486.2 million,” said Mwanakatwe.
Meanwhile Minister of Commerce, Trade and Industry Christopher Yaluma said as of December last year, three MFEZs namely; Chambeshi, Lusaka South and Lusaka East were operational.
He was responding to questions from Simbao who wanted to find out how many Multi-Facility Economic Zones were operational as of 30th December, 2017; how many companies were operating in the Lusaka South Chambeshi MFEZs.
“As of December 30, 2017, three MFEZs were operational namely; Chambeshi, Lusaka South and Lusaka East. There are three companies operating in Lusaka South MFEZ namely; Zambian breweries PLC, Zambian fertilizers Limited and NRB Farmer Zambia Limited. In the Chambeshi MFEZ there are 31 companies operating. Lusaka East MFEZ has a total of 12 companies, out of these eight are operational,” he said.
Yaluma said the MFEZs were created to promote manufacturing and value addition to local products.
“The MFEZs were created to promote manufacturing and value addition to local products. Chambeshi and Lusaka East are managed by ZCCZ company. Lusaka South is managed by government through IDC and ministry of commerce trade and industry. Benefits of MFEZS are to provide organized space for industrial development, to provide an attractive investment environment, to provide jobs,” he said.
And asked by Monze Central UPND member of parliament Jack Mwiimbu why government was failing to give Zambians plots in MFEZs, Yaluma said only people with money could invest.
“Minister you are aware that the Lusaka South MFEZ is supposed to be a city within a city. There are residential houses there, cites for hotels and other commercial ventures. I would like to find out from you what difficulties you are encountering in ensuring that Zambians are given plots in those areas so that they can build their houses and other facilities are give to Zambians? What difficulties do you have, those plots are there but they have not been utilized?” he questioned.
Yaluma said in his response; “I’m aware the facilities are underutilized. But I must say that we are open to everyone to come and invest there. Its the question of the people that have got the money to invest. You can only invest if have got money. If you have no money I don’t think you can invest,” said Yaluma.
About Zondiwe Mbewe
Zondiwe is a vibrant young Zambian journalist who has interest in writing political and current affairs on issues which affect every Zambians. She draws inspiration from journalists who stand for what is right and are not afraid to tell and show the truth to the people.
Email: zondiwe [at] diggers [dot] news
- Lusaka cop shoots self over K35,000 debt - 20 Jun 2018
- Nshinka used to point gun to Precious’ head whenever they argued – Witness - 20 Jun 2018
- Lungu is naked, but PF think it’s the Emperor’s new clothes – Kambwili - 19 Jun 2018
- Fiscal policy directives meant to hoodwink donors – Milupi - 19 Jun 2018
- Mambo questions Lungu’s unexplained absence from State funeral - 18 Jun 2018
Subscribe for email alerts
Weekly Most Digged
ArchivesJul0 PostsAug0 PostsSep0 PostsOct0 PostsNov0 PostsDec0 Posts
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- November 2016
- October 2016
The News Diggers
Deputy News Editor
Plot No. Lus/9812/649-MC8
off Alex Chola Road
P.O. Box 32147
Telephone or WhatsApp:
+26-097-7708285, 095-3424603, 096-5815078
diggers [at] diggers [dot] news
editor [at] diggers [dot] news
Send this to a friend