Zambia has generated over US$222 million direct foreign investment since 2012 as investment by mining companies in various various community programmes as part of their social responsibility with the mining sector contributing ttaking a lion’s share of over 51 percent, says a report.
The total investment in the social sector by various local and foreign companies represents 43 percent higher than what was investment overall by the private sector in Corporate Social Responsibilities
(CSRs) according to a report e-mailed to the Zambian Mining Magazine today from the Chamber of Mines in Zambia (CMAZ).
The (CMAZ) is a consortium of foreign mining companies that have sojourned in Zambia in the aftermath of the economic liberation in the late 1990s and are operating various units in various parts of the country, Africa’s top copper producer .
The Mining sector’s contributions to various social sector programmes accounted for 51 percent of the total US$99 million raked in CSR investment. The health sector received the highest contributions from various commpanies, mines inclusive, raking in a total of US$62 million, representing 33 percent of the totalo expenditure in various sectors in the year under review.
Other sectors that benefited included education, arts, environmental management and security, among others as the private sector sought to uphold the CSR programms to better the livelihood of the people in communities they operate.
Manufacturing gobbled US$79.4 million, representing 47. 3 percent, wholesale and retail, US$911.1 million with the rest of the sectors contributing US$5 million, representing 2.5 percent.
Major multinational mining companies operating in Zambia and mainly located on the Copperbelt and Northwestern include Konkola Copper Mines, a unit of London Listed Vedanta Resources Plc and Mopani Copper Mines, a unit of Global leading commodity trader, Glencore Plc of Switzerland.
Others are Kansanshi Copper, a unit of First Quantum Minerals Limited and Lumwana Mine, all located in Solwezi in North Western Zambia, among others. Konkola, Mopani, Lumwana and Kansanshi, mines, have invested in various social programmes ranging from infrasctructure, health, sanitation , water and sports development.