Page 11 - DMEA Week 03 2023
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Meanwhile, Angolan President João as efficiency of industrial efforts in the Lobito
Lourenço confirmed that his country was willing Corridor.
to invest in the Zambian downstream. He added While AZOP was initially led by Zambian
separately that his meeting with Hichilema was copper firm Basali Ba Liseli Resources, Sonan-
aimed at strengthening trade and co-operation gol and Zambia’s Industrial Development Corp.
between the two countries. (IDC) have taken over strategic equity positions,
Along with oil came further deals for trans- with a memorandum of understanding (MoU)
port and infrastructure links. Those mentioned signed between the two.
were rail and road plans as well as an electricity A further shared-financing agreement was
line, planned to be constructed for long-term signed in 2019. At that point, the companies tar-
use. geted project completion within five years, allow-
The two countries acknowledged that ing for 12,000-14,000 temporary jobs during its
cross-border links are sparse, therefore nega- construction and a further 4,000 permanent jobs
tively affecting trade and investment – as well in Zambia and Angola once complete.
Week 03 19•January•2023 www. NEWSBASE .com P11
