Industrial yards on course

COVID-19 opens up new opportunities and a greater sense of urgency to build up Africa’s manufacturing capacity and critically needed industrial value chains.

These however must be supported by enabling infrastructure and policies, says the re-elected African Devel

yards in the LS-

opment Bank (AfDB) president, Akinwumi Adesina. Works are going

Dr Adesina said special attention would of be given and the to contractor regional industrial value industrial chains and yards strengthening in the on site. of financial markets.

Lusaka South Multi- “Once that

This, he said, would expand Facility intra-regional Economic trade done, and we will competitiveness and boost Zone the (LS-MFEZ) Africa Continental to see Free SMEs

Trade Area.

which will boost local the zone and “We will build on the great participation successes in the we have from had there,” in Mr agriculture, by scaling up area technologies is expected to to reach said. tens of millions of farmers and supporting be completed Africa in the to build He comalso observed petitive agricultural value next chains. 12 months. the need to increase

“We will add value to what Participation we produce in Africa, incentives and to provide creative and high-tech of local opportunities investors for willing massive to invest youth engagement in agriculture in the economic and agribusiness,” the zone. he Mr

said in a statement. zone is currently expressed concern

As Covid-19 shocks began, low due the to, Board among of Directors that Zambia aphad proved a US$10 billion pandemic other reasons, response the facility competition to adfrom dress immediate and project minimum investments investment for countries, countries such especially to contain fiscal of meltdowns. US$500,000 which Rwanda, Kenya,

AfDB, Dr Adesina said, some was locals a responsive say is Bank Egypt, which South had, apart from approving prohibitive. a Covid-19 facility, launched Mozambique a US$3 billion social bond on LS-MFEZ the global Business market, the Zimbabwe largthat est United States dollar denominated Development social bond better ever in incentives.

world history. Manager, Francis Mr Kunda said

Kunda, said minimum US$

Dr Adesina stressed that these actions reflected the

construction works of 000 investment

Bank’s ambitions, its unshaken commitment and un

the industrial yards investors to qualify

yielding responsibility to support, stabilise and strength

were currently on available incentives

en African economies.

course. was a limiting

“The Covid-19 pandemic has changed everything

Mr Kunda local businesses.

globally. It has thrown Africa’s growth back.

explained that the however said

“The continent has lost gains and economic growth

industrial yards, had been lobbying

that were achieved over the last decade. Africa’s recovery

once completed, its parent Ministry

will therefore be long and challenging,” he said.

would boost local Commerce Trade

He indicated that AfDB pay increased attention

participation in the Industry which

to supporting Africa with quality health care infrastruc

economic zones. talking to Ministry

ture, and building on its comparative advantage in infra

He explained in Finance to improve

structure.

an interview that incentives.

Dr Adesina said the institution the industrial would yards focus on “For ecoinvestors nomic infrastructure, quality would physical enable infrastructure small qualify, and one has

quality health infrastructure.

and medium sized invest minimum “Our bank must ensure entrepreneurs its own long-term to set financial US$500,000 “This laboratory is targeted sustainability at the to drive Africa’s up businesses growth further, in the deeper some and of the local operations we are setting faster up in starting the years with to come. zone. investors that Rufunsa, were we are working “We must with small realise the dreams “That one of a is more on the prosperous limiting factor. scale miners there and Africa. art is A anal healthier miners Africa. table A more and resilient we have Africa. you And, invest a less from the surrounding more area,” developed he said. Africa,” he Citizen said. Economic S$500, 000 you

Mr Keer said the laboratory would also and Empowerment not be entitled be open to the general public for them to Commission who are incentives,” Mr come and have their samples tested. constructing industrial said.

tion in accordance with applicable terms and conditions. This will apply to all types of accounts irrespective of the currency in which they are held.

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