A joint venture agreement has been reached with three private companies on a new Zambia construction project that will result in the construction of 100,000 prefabricated low-cost housing units in the country annually.
Based the agreement that was signed by Africapaciti Investment Group, EnviroBoard Zambia and EnviroBoard Corporation USA, three factories will be established to complete this project which will help reduce the country’s current housing deficit of 1.5 million units.
According to the Zambia High Commissioner to South Africa, Muyeba Chikonde, the Government will only play an oversight role on the project by creating a regulatory framework that conducive to success and challenged the private sector to invest more in the Zambia housing sector in order to grow the country’s economy.
The groundbreaking technology being used in the construction of these housing units will include the use of prefabricated material that has been manufactured from elephant grass and other organic material.
According to Millicent Mombeshora, chairperson for the Africapaciti Investment Group, this technology has been used in the United States for years, but is new to Africa.
“This technology has been used for many decades in the US and now marks a new era for housing development in Africa,” she said, “Africapaciti Investment Group is proud to be at the forefront of socio-economic development in Africa, promoting African industrialization, creating jobs and influencing better living conditions for our people.”
The construction project will be launched in Zambia and will later be expanded to include projects in South Africa, Zimbabwe and Tanzania.