Investors pledge $4 billion for housing infrastructure in Zambia

Investors with a total purse of $ 4 billion have come forward to help the Government of Zambia fill the national housing deficit. Amer International Group, a Chinese company had pledged to invest a total of $3 billion in Zambia’s housing infrastructure in Zambia. Another $1 billion is pledged by US-based Magcor Zambia Holdings Limited.

AsokoInsight reports that the investors are seeking partnership with the government in the housing infrastructure development sector. The investors have offered their cooperation to the Zambian government that started a programme to alleviate the national housing shortage, which is currently at 1.5 million. It has invited investors to support and participate in its plans in Public Private Partnership (PPP) mode.

Zambia wants citizens to have the opportunity to buy the houses at an affordable rate. The governments aims to see both public and private sector employees owning a house by the time they retire.

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