Zambia Attracts 1.1 bln USD Investment Pledges in Q3

Xinhua, November 1, 2022

LUSAKA, Oct. 31 (Xinhua) -- Zambia recorded 1.1 billion U.S. dollars worth of investment pledges in the third quarter of 2022 on account of a stable macroeconomic environment, its investment agency said on Monday.

The Zambia Development Agency (ZDA) said the pledges recorded were an increase compared to 631 million dollars worth of investment recorded during the same period last year.

The investments were expected to create about 8,307 jobs.

Albert Halwampa, the acting director-general of the ZDA, told reporters during a briefing that the manufacturing sector had the highest investment pledges recorded of 396 million dollars, while other pledged investments were in energy, construction, transport and services, among others.

"We are at a stage where investor confidence is at its highest level because of macroeconomic stability. Zambia has become stable in terms of macroeconomic fundamentals," he said.