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EAZ HAILS IDC, MARCOPOLO DEAL

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  • EAZ president, Lubinda Haabazoka said the association fully support Government for having rightly put the resources of the people of Zambia into the tile-making company.

By SIMON MUNTEMBA

CONTRARY to misconceptions created in some section of the media, Government’s acquisition of 49 percent shares in Marcopolo Tiles Company Limited is recommendable as it is a viable business, the Economics Association of Zambia (EAZ).

EAZ president, Lubinda Haabazoka said the association fully support Government for having rightly put the resources of the people of Zambia into the tile-making company. 

Dr Haabazoka said this yesterday after touring Marcopolo Tiles Company Limited manufacturing plant in Lusaka West.

“There has been a lot of misconceptions in the press as of the true value of the factory and its capabilities, but I think as an association today we stand extremely proud that in Zambia we have a factory co-owned between the private sector and Government through the Industrial Development Corporation (IDC), National Pension Scheme Authority (NAPSA) and the Workers Compensation Fund Control Board (WCFCB).

“As an association we give this investment 1000 percent approval and we fully back Government on this decision to acquire shares,” Dr Haabazoka said.

He urged the Zambians to refrain from criticizing Government just for the sake of it as that has the potential to dent the country’s image to the outside world.

“We would  like to call on all Zambian citizens to support this investment because Zambia should be built by Zambians. This is a state of art fact and we commend Government for rightly putting the resources of the people of Zambia into a viable business like this one.

“So Zambian citizens let us refrain from making sentiments that could dent our image as a country, this is a good investment,” he said.

And Buy Zambia campaigner, Michael Zulu also expressed happiness with the investment which created direct jobs to local Zambians.

“What is more exiting is that I have seen a lot of our Zambian colleagues handling the machines as opposed to our foreign friends who come as investors and take all the jobs. So we are very excited that there is a lot of job creation here. It’s not just simple jobs but quality job creation, “Mr Zulu said.

Meanwhile, Marcopolo Tiles Company Ltd director, Roy Mwamba said the company has also transferred skills to the local Zambians.

Mr Mwamba also said the company was using locally sourced raw materials to manufacture the products, thereby creating more jobs for Zambians.

Last week, Government announced that through its three entities, led by the Industrial Development Corporation it had paid US$44.8 million to acquire 49 percent shares in a private Chinese company that makes tiles.

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