Zambia Promotes Investment Opportunities to Global Financial Giants
Thabo Kawana, the Permanent Secretary of Zambia’s Ministry of Information and Media, embarked on a strategic visit to the headquarters of global financial giants Bloomberg and the Wall Street Journal.
Kawana’s mission was to promote Zambia as a prime destination for business opportunities, highlighting the country’s robust investment climate and promising sectors.
During his visit, Kawana emphasized Zambia’s commitment to fostering a private-sector-led economy, welcoming investors with open arms.
He underscored key incentives that make Zambia an attractive investment hub, including zero restrictions on capital transfer and profit repatriation, as well as investment protection through Investment Promotion and Protection Agreements (IPPA’s).
Furthermore, Kawana elucidated on Zambia’s favorable investment incentives, such as 0% Customs Duty on capital equipment and machinery acquisition, accelerated depreciation benefits, and preferential corporate tax rates for specific industries like agriculture and investments in Special Economic Zones (MFEZ).
Addressing concerns regarding business registration, Kawana outlined the role of the Patents and Companies Registration Agency (PACRA) and emphasized the requirement for a majority of directors to be residents of Zambia.
Additionally, he assured potential investors of streamlined processes for land acquisition facilitated by the Zambia Development Agency (ZDA).
Highlighting Zambia’s burgeoning economy, Kawana pinpointed key investment opportunities in sectors including mining and value addition, energy (hydro, renewable, and solar), agriculture and agro-processing, aquaculture, tourism (nature-based, eco-tourism), and hospitality.
Kawana concluded by reaffirming Zambia’s readiness for business under the leadership of President Hakainde Hichilema’s UPND New Dawn Government.
He underscored the administration’s commitment to nurturing strong institutions that support an enabling environment for both local and foreign investment, signaling Zambia’s proactive approach to economic growth and development.
