By Amb Emmanuel Mwamba
Public Funding the road purporting to be a PPP
Lusaka-Ndola Dual Carriage-way, concessionaire takes over toll gates
The National Road Fund Agency (NRFA) has confirmed that it has handed over three toll gates to Macro Ocean Investment Consortium on November 30, 2024.
NRFA Public Relations Manager Alphonsius Hamachila, revealed that Katuba, Manyumbi and Kafulafuta toll gates have been handed to Macro Ocean Investment Consortium (MOIC), the Concessionaire that is upgrading the Road to a dual carriage under the Public Private Partnerships (PPPs), in line with the Concession agreement.
Macro-Ocean Investment Consortium is a group of Chinese Companies, headlined by Aviation Industry Corporation (AVIC International) and China Railways Seventh GroupThe consortium will be required to borrow locally from National Pension Scheme Authority (NAPSA), Workers Compensation Fund Control Board (WCFCB) and Stanbic Bank to total about $577m.
However, the consortium hasl not come with any required to come its own funds.
Oh this is good! It’s evidence that the PPP model is working. Roads for the benefits of road user hence enhanced economic activities, and more money for the pensioners from NAPSA profits. Bravo HH