Zambia Development Agency Secures $8.9 Billion in Investments
The Zambia Development Agency (ZDA) has successfully realized $8.9 billion in investments from 2021 to 2024, as announced by ZDA Director General, Mr. Albert Halwampa, during a media briefing held on Friday, August 23, 2024, at the ZDA Boardroom.
Of the total committed investment of $54 billion, 440 companies have contributed to this substantial achievement, resulting in an actualization rate of 113%.
The investments cover various sectors, with mining leading the way at $3.34 billion, followed closely by manufacturing at $3.10 billion, and transport at $1.2 billion.
“This remarkable success reflects the ZDA’s dedication to promoting both local and foreign direct investment, trade, and business development, particularly for SMEs,” Mr. Halwampa stated. Lusaka Province emerged as the top contributor, actualizing $5.3 billion, followed by North Western Province with $2.3 billion.
In addition to the investment gains, the ZDA reported the creation of 36,045 jobs, surpassing the committed employment figure of 29,009. The mining and manufacturing sectors were the largest employers, creating 9,692 and 12,460 jobs, respectively.
Mr. Halwampa attributed this success to Zambia’s strong leadership under President Hakainde Hichilema, whose policies have fostered a stable macroeconomic environment and attracted unprecedented levels of investment.
As the ZDA continues its mission, Mr. Halwampa encouraged local investors to seize opportunities, emphasizing the government’s support for small and medium enterprises through low investment thresholds and incentives such as zero customs duty on imported equipment and machinery.
