Lusaka mayor woos Indian investors
Published On March 12, 2014 » 1981 Views» By Moses Kabaila Jr: Online Editor » Business, Stories
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DANIEL-CHISENGABy JAMES KUNDA-
LUSAKA Mayor Daniel Chisenga has implored multi-national companies and the private sector in India to invest in Zambia because of the good economic policies prevailing in the country.
Mr Chisenga asked the Indian infrastructure and medium-heavy manufacturing sector to take advantage of the enabling environment for foreign investments.
The Mayor was speaking on the sidelines of the 10th Conclave on India-Africa Project Partnership (CIAP) that took place at the Taj Palace Hotel in New Delhi, India.
“Government has created huge investment opportunities for foreign and local companies as a result of sound economic policies and good governance,” Mr Chisenga said.
This is contained in a statement made available by Lusaka City Council assistant public relations manager Brenda Katongola.
The CIAP was held to promote strong industrial relationships between India and Africa and to boost investment opportunities.
The CIAP was held under the theme “accelerating economic growth through innovation, transformation, inclusion and governance”.
And speaking at the same occasion, Export-Import Bank of India (EXIM BANK) chairperson and managing director, Yaduvendra Mathur assured African countries of the institution’s financial support towards infrastructure development.
Mr Mathur said African countries should speed up necessary processes required for the institutions to facilitate financing.
Meanwhile, Indian based Afcons Infrastructure Limited vice chairperson and managing director K Subrahmanian said that US$223 billion dollars-worth of project funding is underway for Africa.
Mr Subrahmanian said the streamlining of funding-approval processes would reduce delays and provide alternative means of financing rather than just dependence on Sovereign guarantee such as barter-based projects.
Afcons Infrastructure Limited, is the premier-most engineering, construction, rehabilitations and infrastructure company in India with an annual turnover of around $400 million in this current financial year, which is expected to touch $1billion in about two years time.

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