Lusaka Economic Zone announces K38 million investment by energy firm

Lusaka South Multi-Facility Economic Zone (LSMFEZ) says Techmasters Zambia intends to set up an energy saver LED light bulb manufacturing facility within the zone.

LSMFEZ Corporate Affairs Manager, Alice Schultz, told Zambia Monitor in a statement on Monday.

She said the company’s initial investment was pegged at K38 million and would create about 500 direct and indirect jobs over a period of three years.

Schultz said the firm would be manufacturing 1,170,000 energy saving LED light bulbs for both local and export distribution.

She said LSMFEZ was set up to diversify the Zambian economy, create jobs and wealth for the country.

“In fulfillment of its mandate, the LS MFEZ is proud to host an investment of this nature as there are not many producers of LED lighting locally,” Schultz said.

Schultz said they planned to accommodate hardware stores and other commercial firms as well as residential developments, which would require LED lighting.

The investment will contribute to the LS MFEZ growing investment portfolio currently at a total of US$1.5 billion, accounting for 101 approved companies and above 30,000 jobs,” she said.

Schultz said for the next 24months the LS MFEZ would focus on operationalization of all investors allocated land within the industrial area, development of its residential area and its Central Business District and Eco-Green Park.

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