Two Brazilian firms have pledged to setup businesses in Zambia in August this year with an initial combined total investment of US$600 million. The two companies Uami and Valley will venture into the mining and the energy sectors respectively. Valley which deals in energy will invest us$400 million, while Uami will invest us$200 million in its mining operations

Uami has further targeted to produce over 50 Tonnes of Copper and create 1,500 jobs in its initial stages. Marcopola the Brazilian manufacturers of luxury coaches has also announced its intentions to set up a plant to maintain the Zambian fleet of buses among others.

This was disclosed during a business forum held at the Pamodzi hotel today. Meanwhile Brazilian President Luiz Inacio Lula De silva says he has great conviction that African countries are capable of competing with the other regions in the world in terms of economic trade.

The Brazilian leader said this when he graced the Brazil/Zambia Business Forum hosted by the Ministry of Commerce, Trade and Industry in conjunction with the Zambia Development ZDA at Pamodzi hotel in Lusaka. Mr Lalu da Silva said the negative publicity of African nations to the outside world has contributed in painting a gloomy picture of the region.

He said Africa has the Potential not only to develop and generate wealth but also improve the lives of the people because of the economic comparative advantages that exist in the region citing massive unexploited land as one of them.

President Lula disclosed that Brazil generates over 26 billion United States dollars from trade activities with Africa which is by far higher than the revenue generated from its trade activities with Japan and Germany combined.

And President Rupiah Banda has implored the Zambian Business Community to take advantage of the invitation extended to them and the various MOUs that have been signed today to engage in trade partnerships with Brazilians. He also warned that Government will revoke trade licenses and land from Zambians who are not utilizing them and give to people who are serious.

And The Brazilian Government has called for increased trade activities between Zambia and Brazil. And Brazil’s Deputy Minister of Development Trade and Industry has invited the Zambian business delegation for a business forum between the two countries to be held in Sao Paulo, Brazil in October this year.

This a reciprocal invitation to the 20 member delegation of major Brazilian firms that arrived together with Brazilian President Inacio Lula da Silva yesterday for a two day official visit who have since expressed interest in investing in various sectors of the Zambian economy.

Flavio Lala who spoke through an interpreter extended the invitation to the Zambian Government this morning during a business forum to exchange and compare notes on different business topics pertaining to economic investments in both Countries.

Mr Lala disclosed that Brazil which is the economic giant of South America is interested in upholding various business activities between the two countries for mutual benefit.

He says there is need for both countries to do more and ensure that there is an increased growth in trade activities which currently account for only 20 million united dollars.

And speaking at the function, Commerce, Trade and Industry Minister Felix Mutati assured Brazilian firms willing to invest in Zambia of a favorable and conducive business and trading environment.

Mr Mutati says Zambia has taken a leading role in ensuring that it provides all the key essential elements of a conducive investment destination in the entire Southern region.

He added that Zambia has the most flexible and consistent application of the tax system which ensures that investors get their expected incentives thereby creating investor confidence in the business community.

Mr Mutati also called on the Brazilian business Community to set up its own Multy Facility Economic Zone MEFZ in Zambia like the one the Chinese have setup in Chambeshi, and trade in Biofuel, Sugar, and Construction that will give the Zambian economy a new torch and skill of doing business.

Twenty Brazilian firms are in the country to explore business investment opportunities in the energy sector, Construction, Digital Broadcasting, and Manufacturing among others.

QFM

Sinazongwe District Commissioner (DC) Oliver Pelete has said government is proud with NAVA Bharat Ventures for releasing K4.332 billion to pay Maamba Collieries (MCL) retirees and for embarking on changing the face of Maamba Township.

Mr Pelete said when kicked off the payment for retirement package of retirees at the MCL head office in Maamba that before the new investor resumes production the employee’s six months salary areas have been cleared.

He said NAVA Bharat is in the process of planning how it would bring in machinery to revamp production.

The DC noted that the Company has started changing the face of Maamba through working on the roads within the township.

He said the new investor want to restore MCL to its original status.

“Government is proud of MCL. The bad image of MCl has changed. Government should also be commended for bringing in the right investor who is changing Maamba Township for better,” Mr Pelete said.

He urged the retirees to use their money prudently since it was their last payment.
[pullquote]“Government is proud of MCL. The bad image of MCl has changed. Government should also be commended for bringing in the right investor who is changing Maamba Township for better,” Mr Pelete said.[/pullquote]
MCL General Manager Alex Mutale said 40 retirees would be paid their money starting from those that retired in 2008.

Mr Mutale said once they were paid other retirees would be getting their money immediately they retire.

He also explained that the company is in the process of replacing the exiting Coal Processing plant (CPP) with a new one.

The General Manager said in the initial stage the company would construct a small CPP which would take three months to construct while waiting for the big one which will take about one year to be constructed.

He pointed out that the company would buy new equipment and rebuilds the existing bulldozer to commence mining as the manufacturer has already assessed it.

Mr Mutale said MCL would also start renovating the offices, working on the air strip, and commencing phase two of the road network in the Maamba Township.

However, Emmy Malambo a widow thanked the MCl for paying the retirement package for his late husband.

Mrs Malamboa thanked government for bring in a credible investor to end retiree’s misery they suffered for failing to get the money on time.

She said the money would help her send the children to School and assist her in her daily life.

NAVA Bharat ventures is the equity partner that government picket to running MCL and it owns 65 percent while government has 30 percent shares.

ZAIN Zambia customers will be able to make international calls for discounted rates of up to 70 per cent as the mobile phone has slashed rates to all international destinations.

Between now and end of September, as a special promotion to celebrate the reduction of rates, customers would be able to benefit from rates as low as 90 per cent.

The company has slashed the international call rates following authorisation by the Zambia Information Communication Technology Authority (ZICTA) for the mobile provider to start using its own international gateway.

Zain Zambia commercial director, Mark Ocitti told journalists in Lusaka yesterday that the rates had been reduced depending on the destinations, in some cases by 70 per cent.

Popular destinations such as South Africa, China, United Kingdom and the United Arab Emirates (UAE) could now cost as low as K1,500 per minute.

“We are delighted to pass on the benefit of operating our own gateway to our customers,” he said.

Mr Ocitti said as a special incentive, Zain had embarked on a promotion to run up to September 27, 2010, when rates would be lowered by a further 20 per cent between 18:00 hours and 22:00 on week days and throughout the weekends.

“Now making international calls will be more accessible to more people than ever before. In addition, our coverage of Zambia means that more affordable international calling from anywhere is now a reality,” he said.

He said the mobile phone provider was committed to lowering calling rates even on local calls.

[Times of Zambia]