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Mercury Asset Partners, a multinational financing and logistics company, has made $600 million available for the implementation of various infrastructure and investment projects in Zambia. These include setting up a solar geyser manufacturing plant, urban renewal through the upgrading of slums, and establishing an investment bank focused on providing construction finance.

Zambia gets infrastructure investmentThis follows the signing of a Memorandum of Understanding (MoU) between the Government of the Republic of Zambia and Mercury Asset Partners in August 2017. The MoU made provision for the construction of 5000 houses in various locations across the country as well as associated services and auxiliary infrastructure such as paved roads, sewer reticulation, water reticulation, electricity supply, schools, clinics, and shopping malls, among others.

According to Zambian Minister of Housing and Infrastructure Development, Ronald Chitotela, the country is focusing on an infrastructure development agenda in order to grow its economy. “Government wants to grow economic activities by opening Zambia to more foreign direct investment through infrastructure development. Our recent meetings in Washington were successful, and we are looking forward to the successful implementation of the projects,” he says.

Chitotela has urged the National Housing Authority to speed up the process of concluding negotiations so that a contract with Mercury Asset Partners is signed. Mercury Asset Partners Co-Director and founder Julie Bwalya says the company is determined to see the implementation of the projects in Zambia and that further meetings with the National Housing Authority would be held in Lusaka to conclude negotiations.

Image credit: http://www.parliament.gov.zm/node/209

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