ZDA Records US$8.9 bn in Actualised Investments, 36,045 jobs
The Zambia Development Agency has recorded US$8.9 billion in actualised investments in the last three years.
ZDA Director General Albert Halwampa addressed media on Friday to share a comprehensive update on the state of investment in the country over the past three years.
According to Halwampe the agency has recorded unprecedented investment promotion activities in the past three years which resulted in the US$8.9 billion actualised investments, which has been recorded from 440 companies out of the 1048 companies registered between 2021 and 2024.
Data from the 608 companies is still being awaited due to slow responses, once received the final actualised amount will be communicated accordingly he stated.
The top investments actualised during this period were made by First Quantum Minerals (FQM), Tuff Boards Limited Zambia Manufacturing, Tim Motors Zambia Limited China Service, United Capital Fertilizer Zambia Company Limited Zambia Manufacturing and Shape It Adhesives Zambia Limited.
Mining recorded the highest actualisation rate by sector with US$3.34 billion recorded, followed by manufacturing at US$3.1 billion and transport at US$1.2 billion.
In terms of jobs, the ZDA has recorded 36,045 jobs actualised against committed employment of 29,009 from the 440 companies that responded. The highest number of jobs are in manufacturing at 12.460, followed by mining at 9,692 and transport at 6,133.
Halwampa also set out a number of corporate social responsibility efforts during the same period, from the building and upgrading of schools to internship opportunities and road repairs.
The ZDA Director General set out some of the key drivers of increased investment during this period, highlighting the important role of good and focused leadership by President Hichilema, a robust and consistent policy environment, stable macro-economic and fiscal policy fundamentals and consistent funding of ZDA.
In closing his address, Halwampa appealed to local investors to step up and invest in the country, noting that ZDA Act No 17 has provided for a low investment threshold of US$ 50,000.00 to make it easier for local investors to access incentives that include the following:
1. Zero % customs duty on imported equipment and machinery.
2. 10 years tax holidays on dividends and profits if set up in the multi facility economic zone and exporting or farming in the farm blocks.
3. Extension of incentives to expansion projects- encouraging renewals.
4. Opportunities in farm blocks and energy sectors.
5. Constituency Development Fund (CDF) opportunities.
Image source: Zambia Development Agency (ZDA)