Capitalize on the proposed reforms targeted for SOE, local investors urged
Zambia Chambers of Commerce and Industry (ZACCI) has called on local investors, independently or as consortiums, with interest in the infrastructure business space to capitalize on the proposed reforms targeted for the State-Owned Enterprises (SOE) in Zambia.
Speaking in a statement, the Zambia Chamber of Commerce and Industry President Chabuka Kawesha, said that, their institution is calling on the Industrial Development Corporation (IDC) as they undertake the State-Owned Enterprises reform processes and policy enhancement to closely embrace the Organization for Economic Co-operation and Development (OECD) Guidelines for multinational enterprises.
Mr Kawesha said that the Organization for Economic Co-operation and Development Guidelines must be at the core and be followed by Zambia’s State-Owned Enterprises, in principle they are recommendations from governments and in some cases key stakeholders to multinational enterprises on responsible business conduct that in many cases with attract capital, commercial and technical investment, as they can play a major role in job creation threefold through secondary operatives.
He also said that the Organization for Economic Co-operation and Development Guidelines set standards for responsible business conduct across a range of issues such as human rights, labour rights, and the environment.
Mr Kawesha explained that the reformed State-Owned Enterprises must build their capacities to undertake Bankable Feasibility Studies and Reports (BFSR) and within agreed timeframes look at expansions, public listings and tangible contributions to
“We call upon private sector players in this marketspace to make their mark by increasing trade volumes as well as network capacities and ancillary services respectively,” he said
Last week, Minister of Finance and National Planning Situmbeko Musokotwane announced in the National Assembly during the 2023 National Budget address on the State-Owned Enterprise Management.