Govt shares transferred to IDC

The kaloba couple
The kaloba couple, Wina & Lungu

Government has transferred all its shares in parastatals to the Industrial Development Corporation -IDC-.

And President Edgar Lungu says the IDC will now be able to go to the capital market soon to raise an initial 5 hundred million dollars.


President Lungu says the money will be invested in the energy sector and other related infrastructural development programmes.

The President who is also the Corporation Board Chairperson says he expects the IDC to spearhead the accelerated investment especially in the power sector.


President Lungu says it is necessary for both expedition and corporate culture to use IDC as a delivery vehicle.

This was contained in a statement issued by Special Assistant to the President for Press and Public Relations, Amos Chanda.