By 
The Zambian government has reportedly established a wealth fund to consolidate revenues generated by state-owned enterprises, Industrial Development Corporation (IDC) Chief Executive Officer, Cornwell Muleya, has stated.
Speaking at the opening of Zambia Forestry and Forest Industries Corporation (ZAFFICO) corporate offices in Lusaka on Monday, Muleya claimed the wealth fund would play a critical role in securing the country’s financial future.
“This fund will be key in ensuring that the Zambian government saves money for future generations,” he said.
Muleya reportedly expressed satisfaction with ZAFFICO’s new offices along the Great North Road, describing the development as significant for Zambia’s industrial growth.
“I am most delighted today to witness the opening of a corporate and sales office for Zambia Forestry and Forest Industries Corporation PLC (ZAFFICO),” he stated.
He further claimed that IDC’s mandate was to drive Zambia’s commercial investment agenda, aimed at bolstering industrial capacity and job creation.
“ZAFFICO is one of the subsidiaries under the IDC Group, and the Government of the Republic of Zambia, through the IDC, holds a 63 percent shareholding in the corporation,” Muleya stated.
“Thus, we are very pleased to witness this expansion of a new sales office.”
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.
Comments