Zambia News

Abu Dhabi company commits $15 million to fostering entrepreneurship

A company from Abu Dhabi has promised to invest $15 million in Zambia to assist the growth of businesspeople.

The Ministry of Small and Medium Enterprises and The Khalifa Fund, an arm of the United Arab Emirates government, will collaborate to operate the fund designed to make it easier for local business owners to get financing.

This is the result of the President’s recent trip to Abu Dhabi in the United Arab Emirates, according to JITO KAYUMBA, Advisor to the President for Finance and Investments.

During a press briefing at State House on the results of the President’s visit to the UAE, Mr. KAYUMBA was speaking.

Additionally, he said that the $2 billion energy project, which is expected to produce roughly 2000 megawatts of electricity, will bring in a lot of jobs for the community.

In addition, Zambia will have extra electricity thanks to the investment, according to Presidential Spokesperson Anthony Bwalya.

Mr. BWALYA continued by saying that President HICHILEMA’s international travels are constantly targeted at generating employment, encouraging investment, and delivering on the promise of raising citizenry living conditions.

And Mr. BWALYA stated that in light of the problems posed by climate change and the disruption of the global supply chain brought on by the Russia-Ukraine war, Zambia is anticipated to mobilize production of grain for the continent, such as maize and soy beans.

According to him, the President would cooperate with South Africa and Senegal to improve global food security and resilience.

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