PTA Reinsurance Company, ZEP-RE has opened a multimillion-dollar Business Park in Lusaka, Zambia which will also house the firm’s offices in the region.
The nine-floor star-shaped-environmentally-friendly building was officially launched by Zambia’s President Edgar Lungu who commended ZEP-RE and Common Market for East and Southern Africa (COMESA) for implementing infrastructure projects that will help further deepen regional integration.
“This investment, in addition to other achievements in the region, is a clear example of ZEP-RE’s commitment to real economic growth in our region. On my own behalf and of my country, we pledge to support ZEP-RE and provide all the necessary frameworks required for it to efficiently execute its mandate,” President Lungu said.
Commenting on the investment, ZEP-RE Managing Director Hope Murera said the Company’s founding mandate was to spur economic development in the COMESA region and as such, most of ITS investments were within COMESA countries.
“A significant portion of these investments are structured as syndicated loans to support government programmes such as infrastructure development. We have also channeled funds directly to member states by investing in among other things real estate and deposits in banks of the region. This new multimillion-dollar ZEP-RE business park in Lusaka is one such investment,” Ms. Murera said.
ZEP-RE Chairman William Erio said the Company has so far underwritten premiums currently standing at US$1 billion with claims paid at US$700 million on cumulative basis.
“We are on the right track with our “I Believe” strategic plan as we work towards building a billion-dollar company. We have restructured the Company and positioned it in a growth path to achieve vision 2026 through increased footprint and developing our people,”Mr. Erio said on his part.
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