Chingola Chamber of Commerce praises govt.

The Chingola Chamber of Commerce, Trade and Industry has started recording increased business opportunities from mining companies following the enactment of the Local Content law in October last year. The local content law which compels mining companies to give 20 percent of construction and supply jobs to local suppliers and contractors, is aimed at empowering local mine contractors and suppliers with more business opportunities. Speaking in an interview with the media, Chingola Chamber Trustee, Emmanuel Musonda confirmed that the local contractors and suppliers in Chingola are receiving increased business opportunities since the enactment of the law.

Mr Musonda said the local suppliers and contractors have received more jobs and inquiries from the mines than ever before stating that even payments are made within a short time. He thanked government for listening to the concerns of the local contractors and suppliers saying now there will be more money returned in the economy from the mines which will in turn increase cash circulation in the economy and strengthen buying power for citizens. “I can confirm that we have increased job opportunities and business inquiries from mining companies since the enactment of the Local Content law and the mining companies are engaging us a lot on how we can all adhere to the local content law stipulations, otherwise this piece of regulation will boost economic development and people’s benefit from the mining sector, ” he stressed.

Mr Musonda however, appealed to government to facilitate availability of a cheaper source of capital funding for local suppliers and contractors so that they can also be competitive. And Chingola based entrepreneur, Debby Chikumbe, said business in Chingola is being boosted by the increasing business opportunities and frequent payment to local contractors and suppliers by the mining companies. Mr Chikumbe said there is reasonable cash in circulation and people are able to buy goods sold by entrepreneurs.

[paywall]

“As you may be aware, our businesses depend on the miners and the mine suppliers and contractors, so when these two groups get paid our businesses boom as these are our main buyers and I can confirm that we have been recording increased sales since the enactments of the Local Content law as we see suppliers and contractors getting jobs and being paid every month and sometimes even twice so that move to enact this law by government is paying off,” he said. And another entrepreneur, Justina Musimuko, said her business was doing well due to the mine contractors and suppliers that are doing well because of the increasing business opportunities they are getting from the mining companies in the district and beyond.

[/paywall]