Sat, 22 Jul 2017 10:29:12 +0000
By MAILESI BANDA
THE Zambia Institute of Chartered Accounts (ZICA) has commissioned the construction of a K50 million ultra-modern conference and office complex in Lusaka.
ZICA president Jason Kazilimani said the project was part of the institute’s quest to enhance sustainability.
Speaking during the ground breaking ceremony for the conference and office complex, he said the undertaking required vast financial resources hence their decision to diversify into real estate development.
“We are aware that we operate in a competitive environment, hence ZICA’s decision to embark on this diversification programme in order to broaden our tax base,” he said.
He expressed confidence that once the project was completed, it would change the infrastructure landscape in the new central business district of Lusaka.
Mr Kazilimani said the funds raised from the project after its successful completion would supplement membership income and enable the institute create value for its members.
He said the eight-storey building which is being constructed by China State Corporation would be completed in the next two years.
Meanwhile, Finance Minister Felix Mutati said investment in real estate conformed to the government’s commitment to real estate development.
In a speech read by the Accountant General, Mr Dickson Sichembe, he said the project was in line with the government’s policy on infrastructure development.
“Government is committed to infrastructure spending, accelerated infrastructure spending has driven economic growth provided jobs and delivered vital services to the people,” he said.
He explained that Government regarded infrastructure spending as a priority in order to create economic growth poles in the country.
