Thu. Aug 22nd, 2019

Turkish investors urged to participate in ZNBS housing project

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By ALICE NACHILEMBE
Zambia’s Ambassador to Turkey, Joseph Chilengi has urged Turkish investors to participate in the Zambia National Building Society (ZNBS) housing estates development project.

The project is under the Public Private Partnership (PPP) arrangement.

Dr Chilengi said Zambia had a housing deficit of 1.3 million units, which could escalate to three million by 2030 if not addressed.

“As a country, we have opened up new districts which require housing units and ZNBS is looking for partners, so this project is available for participation by the Turkish private sector,” he said.

The envoy made the remarks during a special presentation at an event co-organised by the Foreign Economic Relations Board of Turkey (DEİK) and Bodrum Chamber of Commerce in Turkey’s port city of Bodrum yesterday.

The discussion theme was “Business opportunities for the Turkish exporters in the African market” focused on economic relations between Turkey and Africa, especially in the construction and tourism sectors.

He said Turkey had successfully implemented a robust social and low-income housing model from which Zambia and the entire African continent could benefit through partnership with the Turkish private sector.

He also said Zambia had other PPP projects available for investment in energy, agriculture, Information and Communication Technologies (ICT), hotels, road construction and railway.

Dr Chilengi cited the solar renewable energy project, the US$ 964 million Nseluka-Mpulungu Railway project, US$ 837 million Livingstone-Kazungula-Sesheke Railway, the US$ 220 million Zambia National Broadcasting Corporation (ZNBC) Twin Palm mixed use real estate development project, and the Lusaka City Council Waste to Resource project, among others.

He said Zambia remained an investment destination of choice due to peace, political stability and appropriate business incentives for investors.

The envoy said by investing in Zambia, Turkish companies will also be tapping into the Common Market for Eastern and Southern Africa (COMESA) and the Southern African Development Community (SADC) markets with a combined population of over 600 million.

On opportunities in Africa, Dr Chilengi said all the 55 members states of the African Union (AU) had a common agenda to construct and overhaul infrastructure such as roads, airports, railway systems, schools and hospitals.

He said Africa provided immense opportunities for investment by Turkish companies in the construction sector.

Dr Challenge urged Turkish companies to help Africa achieve road, railway and air connectivity in line with the aspirations of the continent’s development blueprint, Agenda 2063.

“You come with one thing, which others don’t have, your quality of goods and services are superior. Africa provides huge opportunities so don’t be left behind,” he said.

This is contained in a statement issued by Jerry Munthali First Secretary Press Embassy of Zambia, Ankara, Turkey.

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