Friday, February 20, 2009

Zambians can afford the US $500,000 MFEZ, says Mutati

COMMENT - Is anyone still in doubt that the MMD is a party of the rich, for the rich? Let's get rid of these neoliberals, and start developing the country for the people, not foreign corporations and the sellout politicians who will take their bribes.

Zambians can afford the US $500,000 MFEZ, says Mutati
Written by Fridah Zinyama
Friday, February 20, 2009 6:57:26 PM

COMMERCE minister Felix Mutati yesterday said most Zambians can afford the US$500,000 requirement to invest in the Multi-facility Economic Zones (MFEZ).

During an MFEZ Stakeholders Consultative Forum hosted by the Economics Association of Zambia (EAZ), Zambia Institute of Chartered Accountants (ZICA) and Association of Certified Chartered Accountants (ACCA) in Lusaka, Mutati said the government had come up with different initiatives to help Zambians in different categories of business to grow.

“There is no need for Zambians to be concerned about whether they will not be able to invest in the MFEZ because those who cannot afford the amount have other options that are meant to help them grow their businesses,” he said. “I will let you know that there are some Zambians who can afford to bring in 10 Marcopolo buses in Zambia which cost about US$ 500,000.”

Mutati further added that the government had signed different credit facilities that could help the Zambian business community to access credit at affordable rates and with longer repayment periods.

“Just last year, we signed a US$ 32 million credit loan facility with the European Investment Bank that is supposed to help the business community with funds to grow their businesses,” he said.

Mutati said Zambians should acquire correct information that could help them make proper investment decisions.

“Look at the Citizens Economic Empowerment Fund, most people have been complaining that it is complicated to fill in when the application form has five parts which have to be filled in,” he said.

“There is a part where you fill in your personal details, your business idea, what you are going to use as collateral. These are simple procedures which, if people inquired, could easily fill in and access the funds.”

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