Ritam Announces US$ 500 Million Zambian Investment

Ritam Holdings has announced that it will launch investments into Zambia amounting to over US$ 500 million over the next three years.

The investment by the black-owned South African group will create over 2000 jobs for Zambians.

The company outlined that the investment is due to the current policies implemented by the New Dawn Government to encourage the private sector and secure economic stability as well as the statements made by President Hakainde Hichilema during the Mining Indaba held earlier this year.

The company is hoping to create a successful partnership with the Zambian Government to create a hospital infrastructure project through one of the company’s subsidiaries TFM. 

Further, another subsidiary, Ecomed, will be helping these hospitals, alongside the Ministry of Health, to employ and train staff. 

Ecomed has also partnered with Kano Healthcare Solutions to aid medical equipment supply, installation, commissioning and training at Zambian hospitals.

Marius Smith, Ritam Ecomed CEO, said, “With joint expertise and over 45 years of joint experience, Ritam Ecomed will be able to provide world-class medical solutions to Zambia. With a staff complement of 275 people in Southern Africa, including Clinical Engineers, registered Nurses, Paramedics and Product Specialists.” 

Additionally, Ecomed will be specialising in equipping hospitals built by TFM in areas such as care units, maternity wards and emergency medical services amongst others.

Mcebisi Mlonzi, Ritam Holdings Chairman, stated that the company will also invest in other key sectors such as health, agriculture and energy.

He stated, “As a South African diversified Holdings company, we found it befitting to partner with Zambia given our Southern African ties to strive to become Africa’s leading diversified industrial group, applying innovation, technology and resources to enhance the sustainability and development of human lives.”

The news is reflective of the steps taken by the New Dawn Government bearing fruit and securing Zambian economic development.