President Edgar Lungu has called on the Engineering Institution of Zambia -EIZ- and National Council for Construction -NCC- to take a lead in ensuring that buildings constructed are NOT a danger to society.
President Lungu expressed concern that some infrastructures are collapsing despite so much resources being injected in their construction.
The President said this during the official opening the 36-million United States dollars ZEP-RE Business Park in Lusaka today.
President Lungu called on Zambian engineers, Architects, quantity surveyors and all players involved in the construction industry to uphold their ethics.
He noted that the building has added beauty to the city and expressed hope that it will stand the taste of time.
President Lungu added that ZEP-RE has continued to meet its mandate of financial inclusion on the continent and offer support to key sectors of the economy.
The Head of State expressed confidence that the regional Reinsurance Company will be key in bringing objectives of African Continental Free Trade Area to Fruition of promoting trade on the continent.
President Lungu also expressed happiness that ZEP-RE is engaging regulators of insurance on reforms necessary to accelerate growth of the markets.
Meanwhile, Finance Minister Bwalya Ng’andu expressed delight that Zambia has been selected for ZEP-RE’s largest investment because of the country’s contribution to its setting up 25 years ago.
And Lusaka Province Minister Bowman Lusambo attributed the growth of investments in Lusaka to a conducive business environment in the country.
He also appealed to investors to consider setting up base in Lusaka because of the stable political environment and good leadership of President LUNGU.
And COMESA Secretary General Chileshe Kapwepwe said the company has been key in supporting growth of the insurance and reinsurance business on the continent.
She said the company with 37 shareholders writes premiums worth over 1-billion US dollars in about 60 counties and settles premiums in excess of over 750-million dollars.
Ms. Kapwepwe, however, raised concern on the low insurance penetration across the continent.
And ZEP-RE Board Chairperson William Erio said the Business Park becomes the first investment in real estate in Zambia , COMESA Region and single largest investment by the company.
ZEP-RE has 37 shareholders among them COMESA and Zambia which had about a 6.19 percent stake.