Govt approves economic zone for Kafue District, hopes to attract over $300 million investment

Cabinet has approved the establishment of a Multi-Facility Economic Zone (MFEZ) in Kafue District, Lusaka Province, during its meeting on Monday, July 15th, 2024.

Information and Media Minister, Cornelius Mweetwa, announced the decision during a press briefing in Lusaka on Thursday, highlighting that the MFEZ was expected to attract investments worth up to US$300 million.

This initiative aims to transform an underutilised area of Kafue District into a manufacturing hub, focusing on producing a variety of goods for export markets.

It is projected to create over 2,000 new jobs locally at full capacity and generate significant tax revenue for the government.

“The Cabinet believes that developing the Kafue MFEZ will significantly reshape the economic landscape of Kafue District by promoting economic diversification, skills development, job creation and revenue generation,” Mweetwa stated.

He said that the MFEZ would act as a catalyst for attracting high-quality enterprises engaged in manufacturing various products, enhancing Zambia’s competitiveness in international markets.

In addition to the MFEZ approval, Mweetwa also announced that Cabinet had endorsed the introduction of the “Kazungula Bridge Authority Bill, 2024” in Parliament.

This bill seeks to formalise the establishment of the Kazungula Bridge Authority, pursuant to an agreement between the governments of Zambia and Botswana.

The authority would oversee the management and maintenance of the bridge infrastructure, ensuring it functions effectively as a crucial link between the transport systems of both countries.

“The Kazungula Bridge Authority Bill, once enacted, will define the authority’s scope and purpose, facilitating the optimal management of this critical infrastructure,” Mweetwa explained.

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.