Politics

Kitwe Mayor Reveals Violation of Law by Some Foreign Investors

The Kitwe City Council has directed foreign investors dealing in different businesses in the District to adhere to the provisions of the Investment Act.

Kitwe Mayor Christopher Kang’ombe has disclosed in an interview that the council had been engaging investors and inspecting their premises to check compliance levels as stated in the Zambia Development Agency (ZDA) Act.

He has directed all foreign investors to ensure they follow the ZDA Act and avoid being in conflict with local businesses.

Kang’ombe has observed that many foreign investors in Kitwe do not meet the $250, 000 threshold worth of investment required for foreigners to be given trading licences in Zambia.

“We started engaging investors last year because according to the ZDA Act, for one to be given a licence to invest in a country, you need to commit US$250,000 worth of investment,” Kang’ombe he said.

He said the local authority was not interested in foreign investors with small businesses but those that would add value to the country’s critical sectors of the economy.

Kang’ombe said foreign investors had agreed to do large commercial activities as opposed to trading in compounds and competing with the local businesses.

8 Comments

  1. Ba Kitwe

    Bravo Mr Mayor, that is the way to go with the problem of the investors. Hope others can take a leaf from the good job you are doing with your team especially the overall government and its relevant wings charged with the mandate to see to it that we have genuine effective investors and not invaders.

  2. Ba Kitwe

    I mean the entire government should learn from this and protect the business space of the small scale local business men and women, bravo once again.

  3. andrew

    Mr. Mayor, who gave these investors the space to trade without scrutinizing them/their capital base? This is barricading the chicken run when the fox has already eaten the chickens, Shame!!!!

    • Chilankalipa

      @ Andrew yours is wisdom. I also want to ask this Kasaka Kangombe, who gave the Chinese licences to sell Chikens, Mataba, Chinese salaula and noise pollution?

  4. MPOMPA MATAYELA

    Mr Mayor, can you also look into the Lebanese who knock from door to door selling pots, spoons and rugs on credit.

  5. Njekwa wa lubinda

    Bravo to you my mayor, we thank the almighty God for your intelligence and humane thinking, you are among a few positive thinking leaders this country has ever had. Indeed this country is in dire need for serious investment and laws must be adhered to if we’re to attain meaningful investment that will eventually grow the economy of our beloved country. How can we stand and watch our God given country go to the pigsty as if all is well.We have allowed fake investment come into our backyards for too long, something has to be done about it. Brothers and sisters let’s wake up to the call. Trading in substandard assortment of merchandise manufactured in China by the Chinese in our markets isn’t investment that will contribute to the growth of our economy. This country needs manufacturing industry in order for the economy to grow. Most of these street vendors in the name of investors do not meet the $250,000 ZDA benchmark, please intensify the scrutiny and insure that those who do not meet the standards have their makeshift businesses are closed. Zambia needs serious investment not haphazard kind of arrangements that is currently obtaining everywhere you go. Let’s do things right whilest we can ,it’s not yet too late. God bless mother Zambia.

  6. Joseph Sinkala

    Hope everyone should support you in that fight. I have said it before in many fora.
    The so called Investors have killed indigenous Zambians businesses.
    Hope the exercise will be an ongoing venture to get rid of these traders who are dotted all over the city.

  7. Justin

    That is it ba mayor,this people they have blocked our relatives at chisokone,how are they going to survive.Job weldone your worship

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