A recently held Israel-Zambia Business Forum, co-hosted by the Zambia Development Agency and the Israel Ministry of Foreign Affairs in Jerusalem, has paved the way for trade deals surpassing the US$800 million mark.
The forum, strategically scheduled during Zambian President Hakainde Hichilema’s state visit to Israel, witnessed participation from over 100 Israeli high-tech companies. These firms, specializing in innovation, energy, financial services, and agritech, engaged with Zambian peers operating in sectors like agriculture, construction, and financial services.
Highlighted deals arising from this collaboration include:
- A USD 5 million investment for a Technology Incubator in Zambia.
- A USD 50 million influx for a deposit-taking financial institution in Zambia.
- A robust USD 645 million commitment towards trade credit insurance and project guarantees.
- An investment of USD 100 million for a 71 Mega Watt Solar and wind energy plant.
Israeli businesses expressed considerable interest in Zambia’s investment environment, with many voicing plans to collaborate with Zambian companies. The collaborations aim to enhance technological advances in agriculture and push productivity, especially concerning maize, wheat, avocados, and mangos.
To further consolidate these partnerships, the Zambia Development Agency, in conjunction with the Israel Ministry of Foreign Affairs, the Export Institution of Israel, and the Israel Chambers of Commerce, has committed to hosting a subsequent Business Forum on Zambian soil.
In a move to accelerate Israel-Zambia business ties, President Hichilema announced a visa waiver for Israeli nationals traveling to Zambia, aiming to bolster investment inflows from Israel.
Israel, a global powerhouse in innovation, boasts a per capita income of USD 54,000. Zambia stands to gain immensely from Israel’s unparalleled strides in technology and agriculture sectors.
The transformative Israel-Zambia Business Forum took place on 2nd August 2023 in Jerusalem, Israel.