BoZ Deputy Governor Dr Francis Chipimo said the figure represents the highest FDI inflow ever recorded in the country and marks a sharp increase from US$641.1 million in 2023. He said the growth reflects renewed investor confidence in Zambia’s economic recovery and policy direction.
Dr Chipimo said the increase was largely driven by reinvested earnings in the mining, manufacturing and deposit-taking sectors, as well as higher equity capital and intercompany debt flows into mining.
Findings from the 2025 Foreign Private Investment and Investor Perceptions Survey (18th edition) show that Zambia’s net private-sector foreign liabilities remained relatively stable, recording a net inflow of US$712.9 million. The stock of foreign liabilities rose by 9.9 percent to US$19.8 billion, with mining accounting for 60.1 percent, manufacturing 15.5 percent, and deposit-taking corporations 8 percent.
However, preliminary data for the first half of 2025 indicate that FDI inflows declined to US$157.9 million, compared to US$580.5 million during the same period in 2024. The decline has been attributed mainly to debt repayments by mining firms to affiliated entities.
Zambia Development Agency Director General Albert Halwampa said the strong FDI performance in 2024 was linked to government reforms, particularly the debt restructuring programme, which improved investor confidence.
The survey is jointly conducted by the Bank of Zambia, the Zambia Development Agency and the Zambia Statistics Agency under the Balance of Payments Statistical Committee, and is compiled in line with international statistical standards.
Ceratainly imprssive for sure
But is it factual considering all that weve been told by them and the upcoming election
Very impressive but for added credibility why not be more explicit about the net position i.e. inflows minus outflows? Masamu should be made simple for us lumpens, not just boasting tuma big numbers
This year everything will look super. Monga bauza bafana
The record inflows were due to many foreign companies participating in GRZ bonds due to high interest gains, lower taxes on interest but now after government changed the rules all those inflows vanished to just from $2.3 billion in 2024 to a mere $150 million in 2025.