KEY TAKEAWAYS: ZAMBIA – A RISING STAR IN INVESTMENT UNDER PRESIDENT HICHILEMA AS HIGHLITED AT THE INVEST IN ZAMBIA CONFERENCE IN LUSAKA
1. Zambia is Open for Investment
• President Hakainde Hichilema has declared Zambia “a place to be” for investors, citing a dramatically improved investment climate.
• The government’s strategic focus is on attracting investment across mining, agriculture, energy, manufacturing, and infrastructure.
2. Economic Recovery is Intentional and Strategic
• The President emphasized that Zambia’s economic revival is not accidental but a result of deliberate planning and leadership from his time in opposition.
• The “python of debt” has been largely dismantled, with 90% of debt restructuring completed, giving the country fiscal breathing space.
3. Major Mining Sector Gains
• Barrick Lumwana reversed its exit decision and reinvested over $2 billion.
• Kansanshi Mine secured a $1.5 billion expansion, extending its life by 20 years.
• The $2 billion Mingomba Mining Project with American investors marks a major boost to the sector.
• Copper output is on track to hit 1 million tons this year, with a goal of 3 million tons by 2031.
• Zambia has overtaken Colombia as the largest producer of emeralds globally.
4. Energy Diversification in Motion
• Sector liberalization and net metering are enabling independent power producers to invest.
• The Chisamba Solar Power Plant and others will enhance renewable energy access.
• A new fertilizer plant is generating 80MW of power, exporting to 8 countries.
5. Boost to Agriculture and Industrialization
• The administration has set a 10 million-ton maize production goal by 2031.
• Nakambala Sugar has become a major exporter, with its HQ moved to Mazabuka to empower locals.
• Mulungushi Textiles in Kabwe is set for relaunch as part of Zambia’s reindustrialization strategy.
6. Regional and International Cooperation
• TAZARA rehabilitation has gained traction with support from Tanzania and China, reviving the 1970s tri-nation dream.
• The Lobito Corridor, in collaboration with the US and EU, will further enhance regional trade.
• Diplomatic engagements with the EU, USA, GCC, and China have brought in tangible investments and partnerships.
7. Policy and Institutional Reforms
• The Presidential Delivery Unit was created to reduce bureaucracy and fast-track development.
• Disputes are now resolved outside courts, as seen with KCM, fostering investor confidence.
• Platforms like the Private Sector Dialogue Forum are shaping the national budget with business input.
8. Skills Development and Local Empowerment
• Vocational training in carpentry, tailoring, bricklaying, and other trades is being revitalized.
• Formation of Copperbelt Power Company (CPC) through a management buyout empowers Zambians with ownership.
• Government favors local investment and production through policies of positive discrimination.
9. Global Recognition
Institutions like World Bank, Moody’s, and Bloomberg report:
• GDP doubling
• Falling inflation
• Stabilized exchange rate
• Record maize harvest
• Rebounding copper output
• Increased tourism arrivals
10. Vision Rooted in Hard Work and Humility
• President Hichilema reflects on his rise from a cattle-herding boy to Head of State, crediting hard work and the unwavering support of First Lady Mutinta Hichilema.
• He reaffirmed that growing the economy is a means to deliver dignity, opportunity, and hope to the Zambian people.
Conclusion:
Zambia, under President Hichilema’s leadership, is emerging as a leading investment destination in Africa, backed by structural reforms, global partnerships, and a clear economic vision. The momentum is real, and the government is committed to sustaining and accelerating progress.
© UPND Media Team