The Zambia Development Agency has recorded 3.9 Billion US dollars of projected investment in 2018 in various sectors of the economy.
The Agency has also facilitated export deals worth over 109.5 Million US dollars in form of on spot sales and business deals that were clinched by the private sector at various export promotion platforms.
Acting Director General Cosam Ngoma said of the total projected investment, the energy sector recorded the highest valued at 1.5 Billion US dollars, representing 39 percent, the manufacturing sector was second with USD 708.4 million US dollars representing 18 percent followed by the mining sector with 241 Million US dollars representing 6 percent.
Mr. Ngoma said of the total recorded projected investment, 21.7 Million US dollars was investment in the various Multi Facility Economic Zones and Industrial Parks around the Country.
In the same vein, Mr. Ngoma said the Agency recorded projected employment of 20,709 jobs in 2018 compared to 24,660 in 2017 denoting a decrease of 19 percent.
He said given the conducive business climate such as political and economic stability, ease of doing business and good governance, investment into the Country is projected to increase.
With the increased FDI inflows into the Country, Mr. Ngoma urged the local businesses to partner with foreign investors through joint ventures and business linkages to create wealth and jobs for the Zambian people.
Meanwhile, Mr. Ngoma said the Agency facilitated Business Development Support Services including incubation to 4,948 Micro, Small and Medium Enterprises which involved product development in various sectors such as agriculture, manufacturing, textile and garments, leather, mining and tourism.
He said the ZDA further assisted 1,529 SMEs with business linkages which included market access support through backward and forward linkages to Large Enterprises such as supermarket chains and access to finance with various financial institutions across the country.
He added that the Agency supported 1,073 potential entrepreneurs including youth and women, with training in mindset transformation, in partnership with Barclays Africa Foundation and Voluntary Service Organization.
This is contained in a statement issued to the Media by ZDA Manager Communications and Public Relations Faith Musonda.
So you “projected” $3.9 billion investment in 2018 but facilitated export deals worth over $109.5 Million ….you must be ashamed publishing such results!!
The $3.9bn investments will bear fruits after 3-4 years, that’s when the export will peak. This allows for:
Commissioning
Ramp up, and
De-bottlenecking
Many Zambian experts in Development, Investment and those who are resource connected away from politics are ready to support the economy even freely advise ZDA in how to successfully drive its statutory mandate on a path of attracting measurable investments that trigger equitable development. The country is in deep trouble as such, we don’t need freeloaders and talking shops. Kindly work with ZRA, the Ministry of Mines, and Finance to start publishing so far the growth and impact of DFIs including those in the extractive industry. Continuous failure by Lusaka to publish revenues and impact on the economy from companies receiving these generous tax incentives is a red flag that kills public confidence. Time for an impact assessment and re-plotting.
Rome was not built in one day, lets roll [ POLEPOLE NDIOMWENDO] Pakapaka Tukutuku mpakanfike…!!! Dobadoba train will make it some day soon,
You have not even started paying back principle amounts on the $17 billion yet you are already recording job losses compared to previous years ???
The key word which is also deceiving is the word “projected “. We don’t want cosmetic investment data we want actual and realized investment figures.