Zambia Sees Promised Investments Materialize, UCF Fertilizer Plant Nears Completion
The Zambia Development Agency (ZDA) reports significant progress on the $50 billion in investments pledged over the past three years.
ZDA Director General, Albert Halwampa, highlighted the United Capital Fertilizer (UCF) project as a prime example of these commitments coming to fruition.
Mr. Halwampa visited the UCF facility in Lusaka to assess their progress firsthand.
He underscored UCF’s $900 million investment as a key contributor to Zambia’s economic growth and GDP expansion.
Mr. Halwampa attributed the surge in investments to a robust marketing campaign led by President Hakainde Hichilema.
This campaign, he said, has resulted in an unprecedented level of investment, surpassing anything witnessed in ZDA’s 13-year history.
“Our visit today serves to demonstrate to the Zambian people that the billions of dollars in investments pledged based on ZDA licenses are translating into real projects,” stated Mr. Halwampa.
He emphasized the collaborative relationship between ZDA and UCF in promoting and developing critical projects for the nation.
The UCF project boasts an investment exceeding $600 million in its compound D factory, creating nearly 3,000 jobs.
Additionally, UCF has embarked on a top dressing project with a further investment of $800 million.
Wonderful Group Deputy CEO, Roy Mwamba, expressed gratitude for ZDA’s support.
He revealed that UCF has already invested over $548 million of their $900 million commitment.
The company’s compound D fertilizer factory is nearing completion and is slated for commissioning next month.
Upon completion, the upgraded plant will enable UCF to produce 700 metric tons of fertilizer annually.
This expanded capacity positions UCF to not only serve Zambia but also become a regional fertilizer supplier.
Mr. Mwamba also announced the launch of tobacco fertilizer production, targeting export markets like Tanzania and Zimbabwe.
The success of the UCF project is attributed not only to their own efforts but also to the favorable policies implemented by the ZDA.
This collaborative effort highlights the potential for public and private partnerships to drive Zambia’s economic development.
