Three private firms sign a joint venture agreement to construct 100,000 prefabricated houses in Zambia

By IAfrica
In Zambia
Jul 13th, 2014
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Three private firms sign a joint venture agreement to construct 100,000 prefabricated houses in Zambia

Time Posted: July 13, 2014 7:05 pm
 ENVIROBOARD Corporation Zambia Limited Chairman, Vincent Chakulya (left) and Africapaciti Group Chairperson signing the joint venture.

ENVIROBOARD Corporation Zambia Limited Chairman, Vincent Chakulya (left) and Africapaciti Group Chairperson signing the joint venture.

Three private entities have signed a joint venture agreement to construct 100,000 prefabricated houses in Zambia annually.

The agreement covers financing and establishment of three factories to manufacture prefabricated housing materials and construction of low cost houses in Zambia.

Press Secretary at the Zambian High Commission in South Africa Nicky Shabolyo has confirmed the development in a media statement issued to ZANIS in Lusaka today.

The joint venture agreement was signed on Friday by Africapaciti Investment Group, EnviroBoard Zambia and EnviroBoard Corporation USA in Johannesburg, South Africa.

Zambia’s High Commissioner to South Africa Muyeba Chikonde who witnessed the occasion expressed optimism that the partnership will help Zambia meet her housing deficit of 1.5 million units.

Mr Chikonde said the partnership will free – up resources that government has been spending on constructing houses for people across the country.

He said government will strive to create a conducive regulatory framework and open up serviced land for immediate construction of housing units.

Mr Chikonde, an architecture by profession, challenged the private sector to invest in the provision of housing and other public infrastructure in order to grow the Zambian economy.

And Africapaciti Investment Group Chairperson Millicent Mombeshora said her firm will build a minimum of 3,000 eco-friendly low cost houses in its first year of operation using American technology.

EnviroBoard Corporation USA Group Chairman Glen Camp said his firm is excited to help provide descent accommodation to people in Africa.

Zambia will be the first African country to benefit from the project before it is rolled out to South Africa, Zimbabwe and Tanzania.

AFRICAPACITI Group Chairperson, Dr. Millicent Mombeshora (right) presents a sample of the building material to be used in the housing project to Zambia's High Commissioner to South Africa, Mr. Muyeba Chikonde

AFRICAPACITI Group Chairperson, Dr. Millicent Mombeshora (right) presents a sample of the building material to be used in the housing project to Zambia’s High Commissioner to South Africa, Mr. Muyeba Chikonde

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