A United States of America (USA) firm will heavily invest in Zambia’s energy industry by setting up a solar equipment plant in Zambia.
Wise Power Systems Global President William Rawheiser said this in an interview with ZANIS today upon arrival at the Lusaka International Airport ahead of Africa Growth and Opportunity Act (AGOA) which officially opens in Zambia’s capital city, Lusaka.
Mr Rawheiser said that the solar power equipment plant to be set in Lusaka will be affordable for people in rural areas where hydro power electricity was not accessible in some cases.
He observed that most towns in Zambia were not connected to the national grid and instead used thermal power generation which he described as ‘costly to run’.
Mr Rawheiser could not however, immediately disclose the cost of the planned solar power equipment plant.
The Power Systems President said he decided to come and invest in Zambia because of the good climate and gesture by the Zambian Government with a resolve to wooing foreign investors.
And Deputy Chief of Mission at the Zambian Embassy in New York, Alfred Choiza said the plant would help boost Zambia’s economy as well as provide employment opportunities to the local people.
Mr. Chioza said it is Government’s determination to continue attracting foreign investors into the country because Africa and Zambia in particular has abundant raw materials which only needed value addition.
He expressed optimism that more US investors were willing to come and invest in Zambia.
Over 3, 000 chief executives as well as Government leaders from United States are expected to participate in the AGOA Forum.
The 2011 AGOA theme is Enhanced Trade, Through Increased Competitiveness, Value Addition and Deeper Regional Integration.
Zambian President Rupiah Banda is expected to officially open the AGOA on Thursday.
The aim of the strategy on AGOA is to provide a framework through which Zambia’s competitiveness and comparative advantage can be harnessed and channeled to exploit opportunities in the US market.
Good news. This is what our students had been advocating for years.
The sun has shown on us for 47 years. The rain has fallen on us gathered up our dust, eroded our rivers and run away to the Indian Ocean. The wind has whiped up whirlwinds in our August and September days. The rivers have over-flooded our banks and all we do is ‘kuomboka’ them! We have geothermal energy bubbling up at Gwisho hot springs!
All these God given resources, we have despised and failed to take advantage of. Yet we have perennial electricity blackouts, floods, famines and water blues! Kaunda once said, ‘I hear God saying, “Kaunda ne bantu bobe, mulifipuba!”‘
Great news! I guess there will be some who will say that the American company has been bribed to make this statement about investing because it is an election year.
Hope they dont get scared away by the opposition
However, there is still a lot of work to be done. I was in Lusaka recently and the roads are so bad, they government needs to have these repaired soon.
Mending roads and repairing them should be a fulltime job for many unemployed people in Zambia
easy to say these things, and easy for govt to claim credit. lazy people
This is what the Country needs. Mining does not benefit the people of Zambia anymore. We can electrify the Country within Twenty years should the politicians decide to be goal oriented.
TOO OFTEN CEO HAVE CLAIMED THEY WILL INVEST AND IT HASN’T HAPPEDNED!!!!!!
Fantastic news. This is real development. The results for the FDI campaign are bearing fruit.
not a good time to be pf, awe kwena this is agony.
Mr Chioza not Choiza and he is based in DC not NY, get your current affairs right before you print. Have you no editor in chief. lol
Before Americans can put their dollars on a project, they do alot of groundwork (pilto scale) to determine technical and economical feasiblity of the project, so as far as I care, these (empty) promises cannot come from an american business executive. Also I cant even imagine a businessman (american for that matter) to say :”(I) have decided to come and invest in Zambia because of the …… gesture by the Zambian Government with a resolve to wooing foreign investors”. No serious investor would utter such non-sense.
I would really like to see a developed zambia with alot of manufacturing industry, but this kind of propaganda aimed at exploiting the minds of the uniformed will not take the country anywhere.
I bought ka solar lighting system for my house in the village. It lights from 1900hrs and by 2200hrs its off with no energy remaining. We wanna systems which will light the whole night, please
This is happening because China is heavily investing in the third world demographic lense, dont act like you dont know people. The world is slowly forgetting the west. It was biblically written that the feet of the statue were varigated to represent different kingdoms ascending to power in our times, its China’s turn. Japanese investments are the most welcome though.
# 12 You are so right!! No too many american businessmen or entrepreneurs are going to enter the african market. the risk of doing business there is too high for them.meanwhile politicians are making empty promises about agoa. The embassy folks can not even convince a small business owner in america to invest in africa.