A consortium of US investors has pledged to invest more than $ 5.4 billion towards the country’s green energy investment as a way of averting the escalating electricity load shedding once the United Party for National Development (UPND) forms government.
This is part of the US$ 25.8 billion investment pledges to be invested in the country.
UPND President Hakainde Hichilema, who said there was no way a country’s economy could run with load shedding of over 15 hours every day assured the nation that his government intends to end load shedding within the first 18 months of the UPND assuming office hence his excitement at the interest from investors.
President Hichilema says his recent international trips to Milan, London, Washington and Frankfurt were meant to prepare the nation for a UPND government that shall respond to the needs of the country and is happy that the trips are starting to bear fruits.
Speaking on Christian Voice’s Chat Back radio program this morning, the UPND leader further said the tourism sector got investment pledges of close to US$2 billion as there was need to open up national parks by way of constructing 1 kilometre concrete airstrip runways and opening water points.
He also revealed that US$6.3 billion investment pledges were made to support the mining sector on the backdrop of good leadership which is expected from the UPND government which has won the admiration and praise from credible investors.
He revealed that one group pledged US$1.5 billion to be released to the country 10 days after he is sworn in as Republican President.
This is the first time in history of Zambia that the country has received such huge amounts in pledges as no previous Zambian government has managed to attract such kind of investment pledges.
“My colleague Bwalya Ng’andu (finance Minister) found us in the US. These investors were coming from meeting him and were saying ‘HH your minister is speaking very good English. You don’t just go to donors and say we will do this and that and expect investment pledges. They have seen that you have choked the gross domestic product (GDP) of US26 billion with a national debt of over US$19 billion.”
He said he had formed credible networks of over 30 years with people he was with at school in Europe and added that the donors were assured of normalcy once a government that respects the rule of law is inaugurated as that is the pre-requisite of sustainable investment.
“Zambians and Zambian citizens will be given licences for investment in natural resources such as water, mining, Mukula trees and quarrying. The investors will bring their capital investment and the locals will use their licences as equity. Our friends the Jerabos will also be given an opportunity to be mine owners,” said Mr Hichilema.
“Paramount of all we shared our vision as UPND to accelerate economic and social development in Zambia to create jobs and look after the sick, the children and the old. In estimates, I am being conservative, they made investment pledges of US $25.8 billion,” Mr Hichilema said.
President Hichilema was recently in Washington DC where he wooed investment pledges of more than US$ 25.8 billion investment funds to be invested in the various economic sectors of the country once the UPND forms government.
UPND MEDIA TEAM