USD 14.1bn in Actualised Investments
By Francis Maingaila ♥️
Lusaka, Zambia — 2024
Zambia has recorded USD 14.1 billion in actualised investments and created more than 114,000 jobs between 2021 and 2025, driven by policy reforms, improved macroeconomic stability, and renewed investor confidence, with growth led by the mining, manufacturing, and energy sectors, the Zambia Development Agency (ZDA) announced on Tuesday.
The investment growth follows debt restructuring, improved macroeconomic stability, and policy reforms that have restored investor confidence after years of economic decline.
ZDA Director General Albert Halwampa said the country had previously experienced high inflation, debt distress, and weakened investor confidence, which led to many licensed projects failing to take off.
He said government’s decision to openly address the debt crisis, restructure obligations, and re-engage international partners, including the International Monetary Fund (IMF), helped reduce Zambia’s risk profile and reopen access to affordable financing.
“As confidence returned, investors were able to borrow, implement projects, build factories, export products, and employ Zambians,” Halwampa said.
According to ZDA data, 2,065 investment licences were issued between 2021 and 2025, representing USD 9.31 billion in committed investments.
Halwampa said 779 licensed companies have so far been monitored, with USD 14.1 billion already invested on the ground.
He said the actualised investments cut across key sectors such as mining, energy, agriculture, tourism, manufacturing, transport, ICT, infrastructure, services, construction, and real estate.
Mining accounted for the largest share at USD 5.07 billion, followed by transport, ICT, manufacturing, agriculture, and tourism.
On employment, Halwampa said the monitored investments have generated more than 114,000 jobs.
Manufacturing recorded the highest number of jobs, followed by mining, agriculture, services, ICT, transport, and energy.
Lusaka Province recorded the highest job numbers, although significant employment gains were also reported in other provinces.
Halwampa attributed the improved investment climate to policy consistency, restored international credibility, stable exchange rates, and declining inflation, which have increased predictability for investors and exporters.
He added that economic growth has rebounded from negative 2.8 percent in 2021 to an average of about six percent, despite global economic challenges.
To support local participation, Halwampa said government revised investment laws to lower the minimum investment threshold for Zambian investors from USD 500,000 to USD 50,000.
He said the change allows local investors to access incentives previously reserved for large-scale foreign investments.
These incentives include duty-free importation of machinery, tax holidays of up to 10 years in Multi-Facility Economic Zones, and eligibility for incentives during expansion projects.
Halwampa also highlighted growing opportunities in the energy sector, particularly renewable energy, as Zambia works to address power deficits caused by drought and climate change.
He said increased electricity supply will be critical to supporting the country’s target of producing three million tonnes of copper.
Halwampa further said investment approval processes have been streamlined, with key agreements now processed within days, improving Zambia’s competitiveness as an investment destination.
He said the figures presented only reflect companies already monitored and are expected to increase as more investors report actualised projects.
“Zambia is now a stable, predictable, and credible investment destination. The numbers show it,” Halwampa said.
Meanwhile, ZDA Board Chairperson Prof. Biemba Maliti said the economic recovery is visible across the country.
He said companies that had been dormant for decades are resuming operations, with investment activity spreading beyond Lusaka.
“This improvement is not confined to one region. It is happening across all provinces, in line with government’s decentralisation agenda,” Prof. Maliti said.
He also acknowledged the role of the media in informing the public about investment opportunities and economic reforms.
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