AFNON Partners With Chinese Companies To Advance Zambia’s Industrialization
August 10, 2022
1. Job Creation and Employment
- Direct Jobs: 3000 direct jobs expected to be created at full production, contributing to Zambia’s employment growth.
- Indirect Jobs: Thousands of indirect jobs expected to be created in supporting industries, such as raw materials supply, transportation, and services.
2. Foreign Exchange Earnings
- Export Revenue: 80% of production expected to be exported, generating significant foreign exchange earnings for Zambia.
- Reduced Import Bill: By producing stoves locally, Zambia’s import bill for stoves is expected to reduce, further improving the country’s trade balance.
3. Economic Growth and Diversification
- Contribution to GDP: The project expected to contribute significantly to Zambia’s GDP growth.
- Diversification of Economy: The project will help diversify Zambia’s economy, reducing dependence on traditional industries like mining and agriculture.
4. Increased Government Revenue
- Tax Revenue: The project expected to generate significant tax revenue for the government.
- Other Revenue Streams: The project may also generate other revenue streams for the government, such as licensing fees and royalties.
5. Improved Local Skills and Technology
- Technology Transfer: The project expected to facilitate technology transfer, improving local skills and expertise in stove manufacturing.
- Capacity Building: The project will help build local capacity in areas like manufacturing, quality control, and management.
6. Reduced Poverty and Improved Living Standards
- Increased Access to Employment: The project expected to increase access to employment opportunities, reducing poverty and improving living standards.
- Improved Energy Access: The project will help improve access to clean and efficient energy, reducing energy poverty and improving overall well-being.
