Three members of ZISWA were among the Zambians that attended the investment meeting addressed by Professor Nkandu Luo, Minister of Local Government and Housing of the Republic of Zambia at the Zambian High Commission in London on 17th April, 2012.
The Minister urged Zambians in the diaspora to invest in the construction of housing stock in Zambia. She also outlined further areas of investment as being in construction of paved roads (as tarmac has proved costly for the nation), play parks, schools, water and sanitation and any other area associated with creation of new small or sub-towns.
The Minister stressed the fact that the greatest demand for investment is in low -cost housing for the low-income groups of Zambians. The current indication is that such a house would cost USD$ 25, 000 to USD$35, 000 to construct on a 45 to 65 square metres size area. For medium Cost housing, current estimates forecast that they will cost between US$ 50, 000 and US$ 75, 000. On the otherhand the indications for High Cost houses are expected to be US$100, 000 and above.
All the units will have paved road access and all will be connected to water reticulation and public sewers. Further all units will have solar power heaters and mains electricity. All these aspects are open for investment.
To aid the anticipated housing boom, the government has decided to decentralise the acquisition of title deeds to land. All applications for investment in the areas that the Minister outlined must be routed through the Zambian High Commission in London who will provide a supporting covering letter.
The Minister stressed that she can be contacted directly in the event of their application being obstructed or delayed at the High Commission in London. Professor Luo further indicated that her Ministry was ready to play a facilitating role in assisting those investors who required loans from Zambian commercial banks. The Zambians were urged to organise themselves into small groups or incorporate companies, although individual investors were also very welcome to participate as well.
Further information can be found on www.mlgh.gov.zm and at the Zambian High Commission, 2 Palace Gate, London, W8 5NG, Tel : +44(0)20775896655. Fax : +44(0)2075811353.