Name of project: Lusaka Medical Centre Limited
Project rationale
The lack of specialist diagnostic centres in Zambia is forcing the government and private citizens to spend millions of dollars seeking specialist treatment in foreign countries such as South Africa, the UK, India and the US.
Name of promoter: Professor Neil Nkanza
Location of the Project: Lusaka
Expectations of the project promoter: The promoter is seeking a joint venture or equity partner to invest up to US$20 million. Shareholding and management is subject to negotiations.
Project description
The promoter plans to establish a 150 bed capacity medical centre equipped with state of the art facilities at a
projected initial investment of US$30 million.
The hospital facilities will include the following:
1. Out-patient facility
24-hour out-patient facility, and a Casualty Unit to be run by doctors specialized in trauma.
2. In-patient facility
Wards consisting of about 40 beds for different disciplines such as surgery, paediatrics and obstetrics and gynaecology will be established at the in-patient facility. There will be several private VIP rooms available which will have a fully equipped ICU ward with 10 adult beds. The maternity wing is envisioned to have a neonatal ICU ward. 5 theatres will also be built at the Medical Centre.
3. Consulting rooms
4. Radiology: This modern radiology facility will have all radiological equipment available including CT scanning facilities and other scanning equipments.
5. Laboratory: Modern pathology laboratory facility to be built within the
hospital
6. Mortuary: To be constructed within the hospital premises.
Estimated period of completion: Less than 2 years
Availability of skilled labour: There are qualified local medics. The promoter also intends importing specialized skills.
Infrastructure: This is a start up project with no existing buildings. Utilities such as water, sewerage, electricity and good roads are available in Lusaka.
Fiscal incentives: Investors investing not less than US$500,000 in health and any priority sectors can take advantage of the following incentives:-
• Company tax charged at 50% of the profits earned for a period of 5 years starting with the first year
of profitability.
• Dividends shall be exempted from tax for 5 years from the year of first declaration.
• Capital expenditure on improvement or for the upgrading of infrastructure shall qualify for improvement allowance of 100% of such expenditure
• Suspended customs duty for 5 years on machinery and equipment.
Non fiscal incentives: Any investor with a Investment License is entitled to investment guarantees and protection against state nationalization, free facilitation for application of immigration permits, secondary licenses, land acquisition and utilities.
Licenses needed: Medical Council of Zambia, Pharmaceutical regulatory authority, Environmental council of Zambia, Registrar of companies, and Radiation protection agency.
For further details on this joint venture opportunity contact the Zambia Development
Agency (ZDA)
Key contact: Florence Mumba
Director: Investment Promotion and Privatisation
Zambia Development Agency
Email: fmumba@zda.org.zm
