Business

MIGA insures over $120m investments

By NKOLE MULAMBIA
INTERNATIONAL financial institution Multilateral Investment Guarantee Agency (MIGA) has, since inception, insured nearly US$124 million in Zambia.
And MIGA vice-president and chief operating officer Michel Wormser is expected in Zambia today on a two-day fact-finding mission.
MIGA has insured the private sector in Zambia from inception in 1988 to help companies protect foreign direct investments against political and non-commercial risks.
The insurance cover includes an investment by Silverlands Ireland Holdings Limited to expand a cattle farm in Zimba as well as several investments by Chayton Atlas Investments farms in the Copperbelt and Central provinces.
According to a statement issued in Lusaka on Friday, MIGA has been active in insuring agri-business projects.
“I want to underscore our willingness to continue supporting that sector – and identifying other priority areas where MIGA can be helpful in advancing the country’s development agenda,” Mr Wormser said.
Mr Wormser’s visit underscores MIGA’s continued support to the country’s development agenda.
Mr Wormser is coming to Zambia to identify areas where MIGA can help the country mobilise capital for important projects, including those in energy, mining, agri-business and other job-creating sectors. Mr Wormser will meet with government and private sector officials.
After his mission in Zambia, Mr Wormser will travel to Tanzania and Kenya.

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