Ritam Holdings Plans $500m Investment
Zambia Daily Mail, July 12, 2022
RITAM Holdings, a South African holding company, will in the next three years invest US$500 million in various sectors of the economy, with a targeted 2,000 jobs for the local people.
This follows the good policies of the New Dawn government, particularly the ones encoded by President Hakainde Hichilema during the mining indaba in South Africa recently.
Mr Hichilema pledged Zambia’s active participation in Africa’s economic agenda through unlocking investment potential in the extractive industry.
He said to this effect, Zambia has started reforming its mining sector in order for the country to maximize its potential for economic development.
Key sectors covered up by the company include health, agriculture, mining, finance and energy.
The company has set up base in Lusaka and plans to acquire land and start building a multi-storey head office within 90 days.
Ritam Holdings chairman Mcebisi Mlonzi said: “As a South African diversified holdings company, we found it befitting to work in partnership with Zambia, given our southern African ties to strive to become Africa’s leading diversified industrial group, applying innovation, technology and resources to enhance the sustainability and development of human life.
“We will be launching a multi-sector investment in Zambia, this is off the successful partnership with Government on a hospital infrastructure project through one of Ritam Holdings subsidiaries, TFM. The success of the hospital has paved way for Ritam Holdings to strengthen its ties with Zambia by launching a multi-sector group of companies supported by investments that will exceed US$500 million over the next three years.”
Mr Mlonzi said in a statement yesterday that the broader vision for Zambia is to make a positive contribution to the economy by creating value, wealth, jobs and transferring skills.
Meanwhile, Ritam Ecomed Zambia chief executive officer Marius Smith said the goal of the firm is to be the first choice for medical equipment solutions, supported by innovative technology, quality and comprehensive range of products, among others.
Ritam Ecomed, a subsidiary of Ritam Holdings, is a flagship medical equipment supply, installation, commissioning, servicing, maintenance and training company that has partnered with Zambian-based healthcare company Kano Healthcare Solutions.
Under the partnership, Ritam Ecomed will provide solutions in the areas of intensive care units, theatres, maternity wards, general wards, trauma units, radiology, emergency medical services, homecare and pain management.