- August 10, 2021
- Posted by: Collins Muyenga
- Categories: General, News
The Livingstone City Market and Intercity Bus Terminus that were commissioned last week by Her Honour the Vice President, Madam Inonge Wina are expected to change the fortunes of the city and of the traders in the two facilities as they will have the opportunity to expand their businesses and be accorded a decent and befitting environment to conduct business from. additionally, all the marketeers and bus operators will have a great opportunity to secure their lives and boost their trade because they will become members of NAPSA and will have access to different benefits offered by NAPSA to the informal sector, including access to credit.
Speaking during the commissioning ceremony in Livingstone, Chairman of the NAPSA Board of Trustees Mr Evans Chibiliti said the two projects were economically viable if the correct operating model was implemented.
“These facilities would be based on cashless model which would allow traders and bus operators to build a credit profile for themselves. the Authority would make the two facilities a revolving pool for cheap capital which marketeers and bus operators would access without needing collateral, but simply based on their own trading activities,” said Mr. Chibiliti.
Mr. Chibiliti reiterated that the chosen operating model was envisaged to result in the creation of additional jobs in Livingstone, including formalising the jobs of the “call boys” to more respectful and upgraded roles like that played by porters at airports.
“Therefore, there is no reason for call-boys to lose their jobs under this operating model. This is in line with the government’s all-inclusive agenda, of extending social security coverage to the informal sector and alleviating poverty in the country,” he said.
Speaking in her keynote address, Her Honour the Vice President, Madam Inonge Wina reiterated the government’s vision of developing infrastructure in all sectors across Zambia. She said over the past decade, Zambia had witnessed unprecedented infrastructure development that had changed the lives of the citizenry for the better through improved services.
“We have been consistent on this, and we will continue to grow the economy through infrastructure projects and improved services across the country” she said.
Ms. Wina said the Livingstone City Market and the Intercity Bus Terminus befitted the city’s status as the country’s tourism hub. This was particularly important because Livingstone was close to other neighboring countries like Zimbabwe, Botswana and Namibia that served as gateways to the region.
“The Livingstone City Market and Bus Terminus will complement the Harry Mwanga Nkumbula International Airport by accommodating transiting passengers” she said.
The two projects were initiated by the Ministry of Local Government in line with its mandate to construct ultra-modern markets and related infrastructure countrywide. However, when the completion of the projects had stalled due to some funding challenges, the National Pension Scheme Authority was approached to partner with the Ministry of Local Government to ensure a successful completion of the two projects.
The Authority’s decision to invest in the two projects was informed by its mandate to invest scheme members’ contributions into economically viable projects for the benefit of the members and the greater good of the Zambian people. The two facilities have been concessioned to the Authority for a period of 14 years for the Authority to recoup its investment to the tune of K42 million.
For the Livingstone City Council, the two projects will guarantee a steady and reliable source for the much-needed revenue to finance its operations and establish a financial base for more developments in the city.