JOIN DRIVERN TAXI AS PARTNER DRIVER TODAY!
Zambia’s Industrial Development Corporation (IDC) plans to issue a $500 million private bond to invest in the energy sector and other infrastructure, the president’s spokesman said on Monday.
Zambia’s government in August transferred all shares in state-owned companies to IDC, which was incorporated in 2014 as a private entity under the Companies Act, Amos Chanda said.
“After all the shares were moved to IDC, it will in the coming weeks go to international markets to borrow as a private entity without government guarantees,” Chanda told Reuters.
Chanda said that as a private entity, there was less risk associated with the IDC than with state-owned companies.
REUTERS
