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Business News of Monday, 22 August 2022

Source: www.punchng.com

Zambia seeks Dangote’s assistance to develop fertiliser industry

Aliko Dangote Aliko Dangote

The Zambian Minister of Commerce and Industry, Mr Chipoka Mulenga, has sought the assistance of the President, Dangote Group, Aliko Dangote, in the development of his country’s agricultural sector.

Mulenga, who led a delegation from Zambia on tour of the 3.00 million metric tonnes Dangote Fertiliser plant, called for a collaboration between Dangote Group and the Zambian government in the establishment of fertiliser plant in the southern African country.

In a statement, he said any investment in fertiliser production would not only help the country to be self-sufficient in food production, but would also help to grow the Zambian economy as well as that of the neighbouring countries.

According to him, the Zambian government had created an enabling environment for local and foreign investment through great incentives to attract investment in all sectors of the economy.

He said, “The Zambian government in the last budget made some pronouncements which focus on value addition, industrialisation, skill enhancement and development.

“We have a huge youthful population who are ready to work if given the opportunity to be productive.”

He described Zambia as Africa’s new investment destination because of its stable political system, stable macroeconomic environment and investment protection guarantees.

He said that Zambia is strong in agriculture and even seeking to become stronger through having its own fertiliser plant.

Mulenga stated that, “Rather than continue to import fertiliser from anywhere, we want Aliko Dangote to come and establish plant in Zambia.

“The country’s fertiliser consumption has increased tremendously in the last few years and has continued to increase. I am happy that we no longer have to go outside of Africa to seek investors.

“Dangote has been able to change the narratives through his investment in cement production across Africa. We now have Africans investing in the Africa continent. Dangote has already established the biggest cement plant in Zambia.

“Dangote Cement Zambia has a remarkable portfolio and is bringing positive change to the cement industry, not only in Zambia, but also to other neighbouring countries.”

Mulenga commended Dangote for investing massively in fertiliser production in Nigeria.

He added, “This could only happen because the company put the right people, right leadership, right technical skills and the right management in place to have such a remarkable result. This fertiliser plant is not only serving the needs of Nigeria, but also attracting foreign exchange into the continent. This is a good demonstration that we can have this kind of investment in any part of Africa, which can grow and be beneficial to other countries.”

He urged Nigerians to guard Dangote investments and other local investments in Nigeria.