Lusaka South Multi-Facility Economic Zone Investment Hits US$130 million

President Hakainde Hichilema is today visiting the Lusaka South Multi-Facility Economic Zone (LSMFEZ) for the commissioning of the Powerful Diligent Veracious Metals Limited Steel Plant. 

It was yesterday announced during a press briefing by the zone’s Managing Director Mwiza Mseteka that the LSMFEZ has secured an investment of US$130 million from 16 industries in 2024. According to Mseteka the investment is also expected to create over 5,000 jobs in the next three years and the zone will benefit from dependable power supply as a result of a power purchase agreement with ZESCO.

Last week Government launched a US$10 million Green Pre-fabricated Housing Production Plant within the LSMFEZ. Production at the plant is expected to reduce the current housing deficit of 1.5 million in the country and is scheduled to begin in June 2025.

Among other businesses expected to expand to the LSMFEZ are Java Foods which earlier this year indicated that it has set aside US$6.5 million for its expansion programme to establish a modern factory in the zone, with plans to have the factory operational in the next two years.

Photo credit: President Hichilema Facebook page