Destination Mbala!

Over USD $200 million has been pledged to be invested in various sectors of the Economy in the Northern Province ahead of its Tourism and Investment Expo slated for 20th to 25th November 2018. The pledges were made by close to thirty Local and Foreign Investors at a pre-Expo Cocktail held in Mbala on Saturday, 6th October 2018.Leading the pledges was the Industrial Development Corporation (IDC) that will be investing USD $100 million in the Mpulungu Harbour through placement of two Cargo Ships and one passenger vessel on the Lake Tanganyika.IDC Chief Executive Mateo Kaluba announced at the Cocktail that the Company is targeting the lucrative export market of the Great Lakes region of Burundi, Rwanda, DRC and Tanzania which are currently serviced by Vessels from the four Countries operating on Lake Tanganyika.And Zambia Seed Company (SEEDCO) has given a short in the arm to the Province by donating K150,000 towards the successful hosting of the Northern Province Tourism and Investment Expo.Other Companies that have rallied their support to the Centenary Commemorations and Expo are Zesco which has contributed a whopping K520,000, Olam Coffee with a contribution of K430,000, China Geo with K150,000 and ZCCM IH pushing in K250,000.Other contributions have been received from IYAPRI at K70,000, Mikalile Investments: K60,000, ERB and its partners: K185,000Investment pledges received at the Cocktail held at Chila Lodge in Mbala include Seth James Group of Companies of Nigeria, Choppies chain of stores of Botswana, White Orchids of UK, Power China of China, Mansa Chili and Mikalile Investments.Mansa Chili will venture in an outgrower scheme that will target over 5000 small scale farmers and is ready to commence the project immediately.Other pledges were made by Zambia Breweries who are looking to develop a Cassava Value Chain, Horizon Properties and Musika which is currently supporting a number of farmers in the Province.And SEEDCO Board Chairman Chance Kabaghe says his company was determined to support the agricultural sector in the region because it has realised the unexploited agricultural potential in the Northern Province.Other companies have expressed interest in investing in the Kasaba Bay, Nsumbu National Park and the over 12 Water Falls that have potential for Hydro Power from as little as 20 Megawatts to 240 Megawatts.The Zambia Industrial Commercial Bank (ZICB) the latest Banking Institution that will be opening its doors later this year pledged support to all investors present.ZICB Board Chairman Charles Sichangwa said for a long time, businesses in Zambia remained unindustrialised and were not commercialised, hence the advent of his bank.ETG, which already has a foothold in the Province’s agricultural sector through fertilizer supply would be venturing in the development of rice production in the parts of the Province with proven potential for large scale rice farming.The other companies to invest in the province in their quest to support the Tourism and Investment Expo are IYAPRI and the Citizen Economic Empowerment Commission (CEEC) which had already invested K2.5 million in the development of an industrial yard in Kasama which is already at 40 per cent Construction .Walusungu Banda who represented CEEC said his organisation which was supported by the World Bank is to invest K24 million and would be involved in wood and gemstone processing among others.Northern Province Minister Hon Brian Mundubile said the interest the investors has already surpassed the expectation of his Administration long before the Expo which was an indication that Expo and Centenary Commemoration will be over subscribed.Earlier in the day there was great excitement as Mahogany Air launched its services to Northern Province with two planes landing for their inaugural flights into Kasama and Mbala .Traditional Rulers, Government Officials and ruling PF Officials led by PF Secretary General Davies Mwila, Deputy Speaker Mwimba Malama, Tourism Minister Charles Banda, Commerce Minister Christopher Yaluma, Works and Supplies Minister Felx Mutati, Members of Parliament, investors as well as senior government officials witnessed the launch and also attended the CocktailIssued by:Elias Kamanga Permanent Secretary, Northen Province Post Views: 1