27 November 2008
A NIGERIAN investor will set up a US $250 million sub-urban centre in Palabana area in Lusaka district with all modern facilities.
Design Union Zambia (DUZ) yesterday signed a memorandum of understanding (MoU) with the Government on the project, which would be called OneLusaka.
The investor pledged to set new standards for environmentally sustainable and contemporary African design and living.
Speaking during the MoU signing ceremony, DUZ managing director, Anthony Aihie said the firm had already acquired a 110 acre piece of land for the development of the project which would take about four years to complete.
Mr Aihie said the venture would include the city centre, which would be a meeting point for entertainment and other recreational activities as well as various other facilities like a hotel.
The other facilities would be a commercial centre, a school, a housing complex and various public utilities like a power line to service the area.
"The company is partnering with the Ministry of Commerce in the Zambian Government which has pledged to facilitate the provision of electricity, water rights and suitable access roads to the estate as well as all statutory and legal approvals," he said.
He said that the same company was currently developing Access Bank main office and branches across Zambia and it would come up with the state-of the art structures for the bank.
Mr Aihie signed the agreement for his company while Commerce, Trade and Industry Permanent Secretary, Davidson Chilipamushi signed for Government.
Mr Chilipamushi said the project would act as a model for foreign investments within Africa in the face of massive Foreign Direct Investment (FDI) from outside the continent.
He said the Zambia Development Agency (ZDA) would facilitate the investment and assured the developers that the Government would protect any investment, whether local and foreign to ensure sustainable development.
Acting Nigerian High Commission to Zambia, Nze Nnamdi said that all the provisions of the agreement should be fully implemented and he was confident that the project would help to foster relations between the two countries.
DUZ chairperson, Yemi Osinbajo, said that Zambia had a conducive environment for investments because of continued peace and stability.
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I do agree with the person that said inviting Nigerians to Zambia is a deadly weapon. Our president is not so naive as to do such a thing. Im sure he's heard about Nigerians being crooks and why should he start making deals with them. Our former leaders avoided such measures and he should find out the reason why?????? If South Africa cant control them including Britain, how is he going to control them in Zambia? I would suggest he really does a lot of findings before opening doors for them. Why sell land to them when there's Zambians who… [Read Full Text]
President Banda's deals with Nigeria, smells a rat. In England, the Government is failing to contain Nigerian crookedness and sphistication with all its massive policing skills and technology; Invitng Nigerians on such a large scale in such an economy which is very weak, corrupt and largely poor is a deadly move. Why Nigerians when South Africa and the Chinese are around the corner. With due respect to Nigeria and Nigerians, as brothers, your ways are just too complex for us Zambians. Please opposition Parties fight this.