Project name: Lake Kariba Waterfront Development
The project entails the development and operation rights for:
• Fixed and floating hotels
• Game lodges
• Bush camps
• Lakeside golf estates
• Villas
• Entertainment and activity centres
• Retail outlets including restaurants and staff housing
• Medical facility
• Marina
• Airport
Facilitator: Zambia Development Agency (ZDA).
Project location: Lake Kariba shoreline in the Southern Province. The area comprises of 22,000 hectares of prime waterfront land.
Investment cost: USD 701 million.
This investment cost is made up of a grant of USD 350 million, a loan of USD 331 million and USD 20 million contingent provision. The rights granted in terms of the
lease over land have been estimated at USD 55 million, which can also be used as collateral.
Return on investment: Annual average return on investment is projected at 41%.
Sector status: The World Tourism Organisation (WTO) forecasts tourism in Zambia to increase by an average of 5.5% per annum. There is therefore a need to develop more tourism facilities and infrastructure to expand the sector.
New partner involvement: The ZDA is seeking equity investment of USD 701 million which will comprise about 70% of total equity. There is an option for potential investors to negotiate and agree on reasonable terms for a shareholding agreement.
Target market: This business is export driven and the target market will be Europe, USA, Canada, Australia and Southern Africa.
Incentive scheme: An approved schedule of incentives to new
investors is available from the ZDA.
For further details contact the Zambia Development Authority(ZDA).
Key contact: Florence Mumba
Director: Investment Promotion and Privatisation
Zambia Development Agency
Email: fmumba@zda.org.zm
