Maravi

Sichinga asks investors to partner with locals

COMMENT - How about a sunset clause on foreign ownership of business in Zambia. That would really be a 'win-win' situation. You can set up a business, but you are obligated to train Zambian workers and management, and hand over all shares to Zambian ownership in 10 years.

Sichinga asks investors to partner with locals
By Masuzyo Chakwe
Mon 19 Mar. 2012, 12:00 CAT

COMMERCE minister Robert Sichinga says it is important for foreign investors to partner with Zambians in various business ventures. Sichinga was speaking in New Delhi on Friday when he met Indian investors, including Varun Beverages, who have already invested in Zambia.

He said partnership would enhance citizen's economic empowerment and contribute to poverty reduction in the country. Sichinga said while Zambia welcomed investors, it was also important that Zambians be embraced as investment partners.

He appealed to food and beverage companies to consider entering into out-grower schemes with local farmers as a way of economically empowering Zambians.

This is according to first secretary for press at the Zambian High Commission in India, Bwalya Nondo.

Others present during the meeting were Apollo Group of Hospitals and ABHIJEET, a mining and construction company interested in investing in Zambia.

Apollo Group of Hospitals signed a memorandum of understanding (MOU) three months ago with the Zambian government for collaboration in healthcare, and capacity building for health personnel in specialised areas of medicine.

Sichinga met representatives of the three organisations on the sidelines of the 8th CII EXIM Bank-India-Africa Conclave Partnership which opened at Taj Palace hotel in New Delhi yesterday.

Sichinga is leading a delegation of Zambia Development Agency (ZDA) and private business players to the conclave which is expected to provide Zambia an opportunity to network and attract potential investors in various sectors of the economy.

Labels: ROBERT SICHINGA

posted by MrK @ 7:10 PM