ZDA REPORTS $9.3 BILLION WORTH OF INVESTMENTS IN 2024
The Zambia Development Agency (ZDA) has announced a remarkable milestone in the country’s economic growth, revealing that a total of USD 9.3 billion worth of investments were actualized in 2024. The announcement was made by ZDA Director General Albert Halwampa, who highlighted the significant strides Zambia has made in attracting and implementing large-scale investments across various sectors.
The investments were derived from 497 projects implemented during the year, underscoring the government’s commitment to creating an enabling environment for both local and foreign investors.
Sector Highlights
- Energy Sector:
The energy sector emerged as the top recipient of investments, attracting a substantial USD 2.63 billion. This reflects Zambia’s ongoing efforts to enhance energy generation and distribution, critical to powering industries and communities. - Manufacturing Sector:
Following closely was the manufacturing sector, which continued to draw significant interest from investors due to its potential for value addition and export opportunities. - Other Sectors:
While energy and manufacturing took the lead, other sectors, including agriculture, mining, and tourism, also contributed to the overall investment portfolio, showcasing Zambia’s diverse economic potential.
In addition to financial inflows, the investments created 40,395 jobs, surpassing the initial commitment of 38,119 jobs. This achievement highlights the tangible benefits of investment promotion efforts, directly impacting livelihoods and reducing unemployment.
Mr Halwampa commended the efforts of all stakeholders involved, emphasizing that the job creation numbers reflect a strategic alignment between investment projects and Zambia’s development priorities.
The ZDA attributed this success to the government’s pro-business policies, improved regulatory frameworks, and incentives for investors. The agency continues to position Zambia as a preferred investment destination in Africa by prioritizing economic diversification, infrastructure development, and regional integration.
The reported investments are expected to have a multiplier effect on the economy, boosting sectors such as construction, logistics, and financial services.
The ZDA has expressed optimism about sustaining this momentum in 2025 and beyond. Strategic focus areas include:
- Expanding renewable energy projects to ensure a stable and sustainable power supply.
- Enhancing industrialization efforts in manufacturing for domestic consumption and export.
- Strengthening public-private partnerships (PPPs) to drive infrastructure development.
While foreign direct investment remains critical, Mr. Halwampa emphasized the importance of encouraging local investors to take advantage of the available opportunities. He noted that inclusive growth would require active participation from Zambian entrepreneurs and small businesses in the investment ecosystem.
The ZDA continues to work closely with both public and private sector players to identify and remove barriers to investment. Enhanced collaboration is expected to drive further progress in achieving Zambia’s economic goals.
With USD 9.3 billion worth of investments and over 40,000 jobs created in 2024, Zambia is positioning itself as a regional leader in investment attraction and economic transformation. The government and ZDA remain committed to leveraging this success to foster sustainable growth and development in the years to come.
