Actis, a property developer based in South Africa plans to invest $200 million in the construction of warehouses in Zambia.
Actis has since identified and shown interest in Zambia and considers the country an attractive investment destination especially due to its demand for imported products.
Company partner Louise Deppe said Zambia imported a lot of products from abroad and this created a demand for warehousing facilities.
During the opening of York Commercial Park in Lusaka, Mr Deppe said in a statement that Zambia was a promising economy with enormous potential for growth.
He said Actis, in partnership with a fellow South African firm, IMPROVON, had since constructed a commercial park at the cost of $12 million.
“We mobilise capital and deploy capital in emerging markets such as Zambia. We are involved in Mandahill and a lot of other building activities in the country,” Mr Deppe said.
Mr Deppe said York Commercial Park was particularly made for distribution of property and construction of energy efficient buildings.
He added that York Commercial Park will make a significant contribution to construction of more energy efficient properties that would not affect power consumption in the country.
According to Mr Deppe, the construction projects would lead to job creation through employment of locals in the communities to take up building projects.
“Development of modern warehousing facilities would ease congestion at existing facilities”, Zambia Development Agency (ZDA) M-PHASE project manager, Robert Banda said.
Mr Banda commended the whole idea and termed it a major move from the old warehousing system that was done without adequate consideration to security issues and access to markets
York Commercial Park, formerly known as York Farm, is now under the ownership of Actis. The new owners had maintained the name in a bid to identify with the local community.
