ZAMBIA: A RISING STAR IN INVESTMENT, SAYS PRESIDENT HICHILEMA
LUSAKA, July 17, 2025 — President Hakainde Hichilema has declared Zambia “a place to be” for investors, citing a dramatically improved investment climate shaped by robust economic reforms, international engagement, and a clear vision for sustainable growth.
Speaking at the Invest in Zambia Conference in Lusaka, President Hichilema highlighted the strides his administration has made since assuming office nearly four years ago.
“Shortly after I was elected, I traveled to Brussels and told the European Parliament that Zambia is back in the Champions League,” he said. “That message was not just rhetoric, it was a commitment. Today, we are seeing the results.”
President Hichilema said in just under four years, Zambia’s economic fundamentals have seen a remarkable turnaround. He said his administration has embarked on strategic international engagements, including visits to the United States, China, GCC countries, and the European Union, to attract investment, strengthen partnerships, and position Zambia as a key player in the global economy.
He said through these diplomatic and economic interventions, the country has secured investments across sectors, including mining, energy, agriculture, and manufacturing.
One notable success is the reversal of Barrick Lumwana’s exit decision. “Through sustained engagement, Barrick chose to stay and has reinvested over $2 billion in Zambia’s economy,” the President stated. Similarly, the Kansanshi Mine, which was on the brink of closure, has now secured a $1.5 billion expansion, extending its lifespan by 20 years.
President Hichilema also said central to Zambia’s new economic trajectory has been the restoration of the rule of law, transparent governance, and debt restructuring. He noted that the government’s commitment to resolving industrial disputes outside court, including the high-profile Konkola Copper Mines (KCM) case, has reinforced investor trust.
“The message is clear: we don’t do business in court. We are here to resolve, support, and grow together,” he emphasized.
The President further said Government has also established the Presidential Delivery Unit to fast-track bureaucratic processes and boost project implementation. Public-private platforms such as the Private Sector Dialogue Forum now play a significant role in national planning and the budget process.
President noted from inheriting an economy with -2.8 per cent growth, Zambia is now on course to meet its 1 million-ton copper production target this year, with a broader vision of reaching 3 million tons.
“Our mining sector, once crippled, is now thriving again,” President Hichilema said, citing new projects at Kalengwa, Mingomba, and Kitumba Mines. Additionally, the country has become the largest producer of emeralds globally, overtaking Colombia, a testament to successful public-private partnerships.
He said these achievements have had a direct impact on employment. Thousands of jobs have been created, including women operating heavy machinery in mines, and youth engaged in infrastructure and energy projects.
President Hichilema said Zambia is also leading efforts in energy diversification. The liberalization of the sector, including the open-access system and net metering, has encouraged independent power producers to invest in renewable energy. A new fertilizer plant, which now exports to eight countries, is also generating 80 megawatts of power, with half going into the national grid.
The President emphasized the role of positive discrimination, incentivizing companies that produce and invest locally, to encourage industrialization and self-sufficiency.
President Hichilema called on Zambia’s diplomats to double down on economic diplomacy, engaging potential investors and offering guidance where needed. He singled out the Egyptian Ambassador to Zambia, who acted promptly following the President’s visit to Cairo, enabling new Arab contractor projects.
He also reminded the audience of his journey from the private sector to the presidency. “In the early and late 1990s, I chaired investment forums in Zambia and London. Today, I do so as Head of State. It’s been a long walk, but the goal has always been the same: investment, economic growth, and job creation.”
In a broader message to the continent, President Hichilema urged African leaders to shift the narrative from politics to trade, investment, and job creation.
“Growing the economy is not an end in itself, it is the vehicle to deliver dignity, opportunity, and hope to our people,” he said.
He emphasized the importance of free education, healthcare, and economic inclusion, which have seen over 2 million children return to school under his leadership.
President Hichilema said with legal stability, a welcoming investment climate, and a government committed to reform, Zambia is fast emerging as one of Africa’s most attractive destinations for investment.
© UPND Media Team