Investors are welcome in Zambia – President Lungu

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President Edgar Lungu has assured investors and the business community that Zambia is always ready to receive investors from any part of the world.

And the President Lungu has implored the business community, diplomatic corps and all Zambians in general to ignore the heightened campaign which has been calculated to undermine the economy.

President Lungu said his government’s resolve is to overcome the lies that have been expressly designed to hurt the Zambian economy.

He stated that government’s management of the economy and public finances is based on laid down systems and guided by sound fundamentals.

“We shall see off all these lies and innuendos. Our management of the economy and public finances is based on laid down systems and guided by sound fundamentals. Let me take this opportunity to assure all other investors that Zambia is open, safe and ready to receive any investor from any part of the world,” the President emphasized.

The Head of State was speaking in Lusaka today during the official opening of TOTAL Zambia’s new headquarters in Northmead.

The President said his government has no reason to doubt the intentions of the French multi-national company, TOTAL Zambia, because of its global sound reputation.

He said the country is grateful that TOTAL has continued to invest in Zambia where it occupies a commanding height in the energy sector.

President Lungu also expressed gratitude that the company decided to keep their operations intact in Zambia while other major international oil marketing companies decided to move to other regions few years ago.

The President is pleased that TOTAL Zambia has invested over 30 million United States dollars in the last three years to expand and modernise its facilities such as the fuel depots in Lusaka, and service stations across the country in order to meet the increasing energy demand, as well as enhance service delivery to customers.

And TOTAL Zambia Chairman Pierre Yves-Sachet said his company is proud to be part of the developmental agenda of Zambia.

Mr. Yves-Sachet said the investments that his company has made in Zambia are a positive contribution to economic activities and the development of the country.

“As TOTAL we fully appreciate that energy is a key driver in the economic development of the country and our commitment remains to make energy available and accessible industry and as many people as possible and this is central to our core business, said Mr Yves-Sachet.

The TOTAL Zambia Chairperson also disclosed that in response to the call for diversification in the energy sector, his company has embarked on the construction of the first ever solar powered service station and is also involved in scaling up of solar projects in the country.

He said his company is working on the first ever wind farm in Pensulo, Northern Zambia which is expected to produce 130 megawatts at a cost of 250 million United States dollars.