Senior Chief Chitanda Lumamba of the lenje speaking people of central province has welcomed the construction of a sugar plantation in his chiefdom.
Speaking during the consultative meeting held at his palace yesterday, the chief said the sugar plant will create better livelihoods for his subjects and Zambians at large through revenue and increased human capital.
The chief further said that there is need for chiefs to collaborate with other stakeholders for the development of the country.
Chitanda sugar company funder and Direct Initiative Credit Consultancy DICC Chief Executive Officer Roy Yumba said the current guidelines of the Banking and Financial Services Act of 2017 has limited the ability of local investors to access funds and credit facilities from commercial banks.
Mr Yumba further said local companies face challenges in accessing financial assistance despite government’s support to local investments projects.
He further said that Direct Initiative Credit Consultancy faced several challenges in accessing loans from local banks to actualise the sugar plantation proJect.
Meanwhile Chitanda Sugar Company Managing Direct Peter Akupela expressed gratitude to DICC for fully funding the construction of the sugar plantation in Chibombo.
Mr Akupela said the project will construct a hospital, a police station, a primary and secondary school over the next five years and create jobs for the locals and Zambians at large.
He further said that there is need for government to scale up support for local investors by enacting incentives that prioritize Zambians.
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