"Strengthening Zambia's Economy"
By Francis Maingaila
Lusaka, Zambia – The Zambia Diaspora Chamber of Commerce (ZDCC) is actively working to strengthen Zambia’s economy by connecting Zambians abroad with local businesses, fostering international investment, and driving economic growth.
Established in 2023, the chamber focuses on empowering young entrepreneurs to scale their businesses, utilizing diaspora investments to create jobs and bolster local enterprises.
Freud Musanu, speaking at the International Business Exchange Hybrid Conference held at Pamodzi Taj Hotel, emphasized the importance of small and medium-sized enterprises (SMEs)—which include market vendors, grocery store owners, and informal traders—in driving Zambia’s economic engine.
Unlike many chambers that prioritize large corporations, the ZDCC specifically targets grassroots businesses, recognizing their pivotal role in the nation's development.
Musanu outlined four key success measures for the chamber including fostering collaboration with policymakers to align economic strategies with national goals, integrating diaspora stakeholders into Zambia’s financial landscape, connecting international investors with local entrepreneurs to build confidence in business opportunities, and hosting forums for business engagement.
Recently, the chamber hosted a highly successful event with 102 participants exploring new business ventures.
Keisha Livermore, Chief of Mission for the International Organization for Migration (IOM), highlighted the untapped economic potential of Zambia’s diaspora.
While remittances provide valuable financial support to families, she stressed that the diaspora could make even more significant contributions through direct investments, partnerships with local entrepreneurs, and sharing the expertise they’ve gained abroad.
The ZDCC believes that knowledge transfer from the diaspora could revolutionize key sectors in Zambia.
Experts in agriculture, for example, could introduce climate-smart farming techniques, addressing the country's food security challenges.
Similarly, professionals in education and healthcare could help improve curricula and bridge skill gaps.
Despite Zambia’s wealth of tourism assets, such as Victoria Falls and Kafue National Park, the country lags behind regional competitors like Kenya.
Engaging the diaspora to promote Zambia’s tourism industry could be a game-changer, unlocking new revenue streams.
Ministry of Foreign Affairs Permanent Secretary, Etambuyu Anamela Gundersen, reaffirmed the government’s commitment to economic diplomacy and investment facilitation.
“The National Diaspora Policy, introduced in 2019, is transitioning from theory to practice with ongoing projects engaging Zambians abroad,” she said.
Gundersen also mentioned the government’s implementation of a 2022 Diaspora Conference resolution to integrate diaspora representatives into Zambia’s national development.
Zambia’s reputation for peaceful political transitions makes it an attractive investment destination.
The government’s national branding initiative is positioning Zambia as a prime location for investments in energy, agriculture, and mining.
“Our ambassadors are working closely with the diaspora to boost trade and mobilize resources,” Gundersen added.
Through the Zambia Diaspora Chamber of Commerce, Zambia is increasingly building connections between local businesses and global investors.
With strategic partnerships, supportive policies, and a focus on diaspora-driven initiatives, Zambia is well-positioned to attract investment, create jobs, and foster sustainable economic development.
The key investment challenge remains: How can Zambia fully harness the economic power of its global citizens?
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