Invest Africa Concludes Successful Visit to Zambia
On Thursday, the Invest Africa group wrapped up its inaugural Investor & Trade Mission to Zambia: capping off three days of illuminating and exciting discussions between the government and business groups.
Highlights of the trip included a roundtable meeting with President Hakainde Hichilema at State House, as well as a discussion with Bank of Zambia Governor Denny Kalyalya, and a presentation on trade and investment opportunities by Zambia Development Agency (ZDA) Director Albert Halwampa.
Among the businesses represented at the mission were global law firm DLA Piper, German technology and industrials manufacturer Siemens, financial services firm Absa Group, and logistics giant DHL.
ZDA Director Albert Halwampa speaks with delegates from the Invest Africa Trade Mission.
The purpose of the visit was to promote and build connections for potential investment and trade opportunities for foreign companies in Zambia. It follows concerted efforts by the New Dawn government and national agencies to diversify Zambia’s economy and stimulate private sector growth.
Of particular note was a presentation by Technology and Science Minister Felix Mutati, which focused on how technology can help to drive forward Zambia’s economic transformation.
Hon. Mutati highlighted the importance of the digital economy in supporting Zambia’s strategic development objectives. As well as bolstering Zambian infrastructure, he pointed out that digital services such as e-trade and financial technology (FinTech) platforms could help businesses in Zambia to grow more quickly.
The minister highlighted emerging technologies such as Artificial Intelligence as being a real ‘game-changers’ in terms of value addition for businesses. However, he stressed that Zambian citizens were at the heart of the country’s digital transformation and that digital platforms will only succeed if Zambians can see the benefits in adopting them.
Zambia Is Back spokesperson Choolwe Chibomba (left) with Technology Minister Felix Mutati.
The presentation by ZDA Director Albert Halwampa, meanwhile, focused on active opportunities for trade and investment within Zambia. These included the Mulembo-Lelya Hydroelectric Project, which is looking to raise $285 million and will generate 118MW of electricity once completed. The project is currently accepting FDI proposals through either a majority or minority stake, as well as through a joint venture or public-private partnership.
Mr Halwampa also showcased an opportunity for investment at the Shangombo Sugar Project, which requires $522.3 million through a FDI majority stake. The project is located at a Greenfield site in Western Province.
Investors looking to hear more about these or any other opportunities can contact the Zambia Is Back campaign – part of the ZDA – at info@zambiaisback.com