LS-MFEZ attracts $100 million investment in quarter 1 of 2022

The Lusaka South Multi Facility Economic Zone has attracted an additional 100 million United States dollars investment in quarter 1 of 2022.

Accounting for the USD 100 million achieved during the first quarter, are 7 new investments in the areas of UPVC manufacture, Agro-processing and steel factories which brings the total approved investments within the Lusaka south multi facility economic zone to 70 companies with a cumulative investment of over 977 million dollars from inception to date.

Lusaka south multi facility economic zone limited manager corporate affairs Alice Schultz tells q news that the zone has in place a five-year corporate strategic plan that is targeted at achieving an investment of 1 billion United States dollars over the planning period.

Ms. Schultz says as at March 31st, 2022 a total of 17 companies were operating within the Lusaka south multi-facility economic zone with 17 at construction stage, while 36 companies are yet to commence activities on the ground as they advance the processes of conducting feasibility studies, sector approvals and licensing.

She says about 4,500 employees are trekking to the LS-MFEZ daily and are employed by the operational entities while a total of 13,360 permanent jobs are expected to be created when the projected 70 companies are operational in the zone.