Government has hailed the listing of China NON-FERROUS Mining Corporation Limited for its accomplishment of listing on the Hong Kong Stock Exchange, one of the world’s important and credible stock exchanges.
Finance and national planning minister Alexander Chikwanda in a statement released to QFM News today says the listing which represents the first African asset to be listed on the Hong Kong Exchange is a very inspiring way forward.
Mr Chikwanda says an initial $300 million intended to finance projects in Zambia is a legitimate cause for hope especially seen against the Backdrop of current huge challenges in the global economy.
He explains that for Zambia this is a demonstration of positive affirmation of confidence by the global community in the country as a credible investment destination.
Mr Chikwanda adds that this also puts to rest some of the negative Assertions about Zambia’s outlook, which in any case can only be ultimately determined by what Zambians themselves do and not prophets of doom in the international community.
The finance minister hopes that China NoN-Ferrous Mining Corporation Limited will be encouraged by the successful listing on the Hong Kong stock exchange and list on the Lusaka Stock Exchange.
Mr Chikwanda has also urged all other mining companies,banks and information technology companies to list on the Lusaka Stock Exchange not only to widen Zambian participation in the economy but also tap the hidden and latent capital.
QFM
Good news indeed at least PF can start counting achievements done in 10 months, you did it…..this is encouraging…now let’s hear critics with no solution or positive contribution….everyone is looking to the East now
NAISA
Don’t steal R.B.s glory. He did this listing. What will you PF and your God SATAn do for us? Not even one new investor for Ten Moons! Shame! Chasing all investors away even simple cotton companies leaving our farmers in the cold. May Jehovah not spare you for your wickedness and Don’t Kunyong’o.
Interesting line on the hidden and latent capital in Zambia. Is such capital really there?
@4 Ice road trucker
That capital may be there but the system is such that (1) the capital is not sufficient for capital intensive projects, projects with real potential for economic growth and employment, and (2) accessing it is near impossible because of the high risk category that the country falls under. But again, one would argue that it’s just us Zambians not coming up with well written capital intensive project proposals and approaching world non traditional financiers like the oil tycoons of the middle east or the venture capitalists in Asia who are always on the look out for future projects. The Kenyans and Tanzanians are doing so well with such sources of capital especially in their IT projects.