News

Matero in K5 billion investment

ARTHUR MWANSA, Lusaka
A LOCAL businessman has pledged to invest more than US$500 million (about K5 billion) towards the implementation of various social amenities in Matero Constituency.
Minister of Water Development, Sanitation and Environmental Protection Lloyd Kaziya said MACER Corporation Limited has pledged to extend the investment to K7 billion to create employment opportunities for youth  in Matero.
Mr Kaziya, who is Matero member of Parliament (MP, said this in an interview yesterday.
“I am very much in constant touch with this investor [George Palo], who has expressed interest to invest in Matero. I was hooked up by community members that are closely working with this executive chairman, he has a lot of connections outside the country to develop my constituency,” he said.
Mr Kaziya said he has held a number of fruitful meetings with Mr Palo, who has shown interest to develop the empty space that links Matero township to National Heroes Stadium and the Olympic Youth Development Centre (OYDC).
“I am trying to negotiate that we put up a shopping mall – bigger than Manda Hill Shopping Mall – because I am looking at the catchment area. We want to bring modernity to Matero. I believe this development will supplement the beauty of Heroes Stadium,” he said.
The minister is pleased that MACER is also behind the establishment of Cosmopolitan and Kafubu Mall on the Copperbelt.
Mr Kaziya said he has been assured by the investor that the project will boost the tax revenue base for the economy.
Mr Kaziya said MACER has also shown interest to bring in a company that can recycle garbage in an effort to create more employment opportunities for youths.
He said MACER has also shown interest in putting up a modern filling station, manage water and sanitation reticulation system and address solid wastes in the area.
Mr Kaziya said the company has further pledged to construct a modern market at Buseko and modernise George township.
“We want to start to re-create George township, we want to establish water pond systems. I have been negotiating with higher authorities to guarantee the start of these projects. These are attainable projects and finances are ready,” Mr Kaziya said.

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