US$130m investment in LS-MFEZ to create 5, 500 jobs

By GIDEON NYENDWA 

THE Lusaka South Multi-Facility Economic Zone (LS-MFEZ) has secured US$130 million in investment from 16 investors across diverse sectors in 2024 that would result into the creation of about 5, 500 jobs.

The US$130m is targeting sectors, including chemical fertilisers, agro-processing, and recycling, with the investments expected to generate 5, 500 jobs over the next three years, according to LS-MFEZ Managing Director Mwiza Mseteka.

During a media briefing yesterday, Mr. Mseteka highlighted a new US$50m investment agreement with Varun Food Beverages Zambia Limited. 

He said the partnership would establish a state-of-the-art manufacturing facility for the Carlsberg beer range, projected to create up to 939 new jobs and boost regional distribution capacity. 

“Varun’s investment bolsters our capacity for regional distribution and reinforces LS-MFEZ’s mission to attract impactful investment,” Mr. Mseteka said.

Mr Mseteka said the economic zone currently hosts several companies in various stages of development, with Kings Worth Group Limited, Umoyo, and Proton Cables among those that have completed projects or are actively building facilities. 

He noted that each of these investments supports LS-MFEZ’s goals of diversifying Zambia’s economy and enhancing critical industries.

Additionally, LS-MFEZ has partnered with Ongos Real Estates of Namibia and Zambia’s National Housing Authority to construct 2, 000 housing units in the zone. 

Mr. Mseteka said the project would facilitate residential growth and support future commercial developments, such as shopping malls and office spaces, creating a vibrant community and business environment.

He said LS-MFEZ has allocated 400 hectares for commercial developments, including plans for a five-star hotel, healthcare facilities, shopping centres, and additional office spaces and emphasised that the Power Purchase Agreement (PPA) with Zesco Limited will ensure reliable power supply, which he described as crucial for investor confidence.

Mr. Mseteka said the zone was also advancing water infrastructure, with planned connections to Libala Water Works and Kafue bulk water systems to meet industrial and residential water demands.