Monday, June 24, 2024

FDI pledges into Zambia swells-ZDA

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ZDA Director General Patrick Chisanga
ZDA Director General Patrick Chisanga

The Zambia Development Agency says it has recorded increased investments pledges for the first half of 2016 indicating a positive trend in the number of investments compared to the same period in 2015.

ZDA Director General Patrick Chisanga however, there has been a decrease in the number of pledged employment in the same period.

During the period January to June 2016, a total of 1.8 USD Billion investment pledges were recorded by the ZDA in different sectors of the economy.

This represents an increase of 20% compared with the 1.5 USD Billion investment pledges recorded in the first half of 2015.

“The period under review the Energy sector registered the highest amount of pledged investments, followed by the Agriculture and the Manufacturing sectors. In terms of jobs, a total of 7, 433 jobs were pledged compared to 10, 558 jobs

The increase in the pledged investments could be attributed to sustained investor confidence and the conducive business environment as demonstrated by an increased number of high level international business activities that have been undertaken in the first half of 2016.

Among these high level business activities, are the Zambia International Investment Forum, which is a flagship forum hosted by the Agency that attracts both local and international investors as well as the Zambia International Energy Conference and the African Development Bank Annual Meetings that took place in Lusaka in the period under review.

Additionally, the Agency in collaboration with the Ministry of Commerce, Trade and Industry organised targeted business forums in France and Saudi Arabia where existing investment opportunities where presented to prospective investors.

Another significant development is the strong performance of the Kwacha in 2016, outshining gold and 150 other currencies and precious metals as copper prices recovered on the world market. The currency has benefited with the increase in metal prices, increased mining investments and an enhanced investor friendly climate.

13 COMMENTS

  1. Lets wait for the response from the self proclaimed super economist, Bo HH and his under 5 clinic party. According to them there is loss of investors confidence contrary to ZDA’s figures.

    • @ Chibs…..Pledges are not actual investments nor are they jobs….. Its like me telling you that I will give you money or I will employ you.

    • Don’t celebrate too early. These proposals, and not pledges, will await the election results and then what the IMF dies to Zambia thereafter. We know that Chikwanda has failed to set up his sinking fund (very appropriate considering that he is in a leaky PF boat) for repaying the Eurobonds. The Zambian economy is headed for doom under PF and those investors will be mere phantoms soon.

  2. @mqwala, lts from pledges that result into actual investments. Consult your self proclaimed super economist.

    • @Chibs…..Do you know that investment pledges that were made in 1991 when Chiluba came into power have not materialised? Investors decided not to invest in Zambia.
      Do not get carried away by investment pledges, these are loose commitment of capital to an investment, the investors have not committed to invest in Zambia.

    • @ Chibs

      Try to buy your food with pledges and you will die of hunger!!!
      Did the PF make pledge in 2011 of:
      Constitution in 90 days
      More money in our “pockets” in 90 days
      Amendment of POA
      2 million jobs in 90 days………..
      So much about pledges

  3. These are mere pledges which may or may not matearilise. If the upcoming elections are disputed then all those pledges will come to nought. If the elections are declared illegitimate then access to international capital markets will be denied and the likes of IMF will not be able to lend to Zambia under International sanctions. Tough choices ahead!

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