MFEZMulti-Facility Economic Zone (Zambia)
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The zone requires about US$350 million to fully develop the Kalumbila multi-facility economic zone (MFEZ).
The Lusaka East MFEZ gives its attention on logistical operations, comprising warehouses, show rooms, hotels, value addition as well as light manufacturing activities in addition to conference centres.
The Zambia China Economic and Trade Cooperation Zone (ZCCZ) has announced that it has made investments worth US$160 million to date for the development of infrastructure in the Lusaka East and Chambishi Multi Facility Economic Zones (MFEZs).
The ZCCZ official has revealed that ZCCZ has lured 27 companies to date, which are managing operations in Lusaka East as well as in Chambishi MFEZs. This has facilitated aggregate investments of $1.2 billion as well as creation of 8,000 jobs.
He has disclosed that the MFEZs future in Zambia is positive, provided that the country s investment strategies continue to be attention-grabbing to the overseas investors along with steady and secured political scenario.
The MFEZ in Chambishi, the maiden economic zone in the African region, is being developed as part of the Forum for China-Africa Cooperation program.
The Regional Manager of Stanbic Bank Zambia - Teza Kazumba has revealed during the official launch of the branch in recent times that the bank is the first financial establishment to start a branch in the MFEZ. He added, As Stanbic, we are proud to be part of the historic moment in that we are the first bank to open a branch in the economic zone.
Kazumba has also praised the Government for magnetizing foreign direct investment through formation of an investment friendly atmosphere via developing MFEZs.