Govt to engage Mansa Batteries investors

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THE Government will engage investors for the defunct Mansa Batteries Company in Luapula Province to ascertain the causes for the failure to resuscitate the company.

Commerce, Trade and Industry Deputy Minister Miles Sampa said in an interview in Lusaka that the Government would be engaging the investors for Mansa Batteries.
Mr Sampa said Government’s policy was not that of wanting to run businesses but to create an enabling environment for investors to do so.
“We will be speaking to the current investors for Mansa Batteries, to establish why they have failed to revive the company. So we want to establish what had caused the investors to fail to revive the company and see where they need to be assisted,” Mr Sampa said.
Mr Sampa said the Government was aware of the challenges the district had been faced with and that was why it was investing heavily in energy infrastructure, adding that Kalungwishi Hydro power had since come on board.
He said once electricity was made available in the area, investors would be able to come on board and invest in various sectors of the economy in the district and province as a whole.
Part of funds from the US$750 million Eurobond was made available through the Development Bank of Zambia (DBZ) for interested investors both local and foreign to access.
“Government has funds available from the Eurobond for any interested investors both local and foreign interested in investing in various sectors which include energy. These funds have been made available through DBZ for investors to access,” he said.
Zambia Development Agency (ZDA) said the Government had indicated that it would revive the defunct Mansa Batteries Company to enhance economic development in the region and create more employment opportunities for the locals.