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Mercury Asset Partners to finance infrastructure projects in Zambia

Zambia aims to develop its infrastructure to boost up economic growth. (Image source: Paul Saad/Flickr)

Mercury Asset Partners, a multinational financing and logistics company, has mobilised US$600mn to implement various infrastructure and investment projects in Zambia

These include setting up of a solar geyser manufacturing plant, upgrading of slums (urban renewal) and establishing an Investment bank focused on providing construction finance.

In August 2017, the government of Zambia signed a MoU with Mercury Asset Partners to construct 5000 houses in various locations in the country. The construction of the houses will come with provision of associated services and auxiliary infrastructure such as paved roads, sewer reticulation, water reticulation, electricity supply, schools, clinics, shopping malls etc.

This came to light during a meeting between delegation from the Ministry of Housing and Infrastructure Development and Mercury Asset Partners group in Washington.

At the same meeting, Norm Coleman, former US republican senator, pledged to help the Zambian government to build strong geopolitical and economic ties with the US Government.

Ronald Chitotela, ministry of housing and infrastructure development in Zambia, said that Zambia is on an infrastructure development agenda in order to grow the economy. The minister further added that the government wants to grow economic activities by opening Zambia to more foreign direct investment through infrastructure development.

Meanwhile, Julie Bwalya, co-director and founder of Mercury Asset Partners, said that they further meetings with the National Housing Authority are set to be held in Lusaka discussing implementation of the project.

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