OECD and Zambia Partner to Strengthen Investment Climate and Digital Transformation
The Organization for Economic Cooperation and Development (OECD) and the Zambian government have officially launched a second Investment Policy Review to boost Zambia’s investment landscape.
This review, set to begin in early 2025, emphasizes Zambia’s commitment to an improved investment climate, revisiting the 2012 review to align with emerging economic priorities.
Announced during the OECD Sustainable Investment Days in Paris, the review involves cooperation between OECD Deputy Director Antonio Gomes, Zambia’s Minister of Technology and Science Hon. Felix Mutati, Zambian Ambassador to France H.E. Ms. Judith Mulenga, and Zambia Development Agency’s Director of Investments, Mr. Chimuka Nketani.
The 18-month process will focus on attracting investments by fostering innovation and supporting job creation, aligning with President Hakainde Hichilema’s vision of investment as a cornerstone of Zambia’s economic growth.
Key objectives of the review include streamlining investment incentives, strengthening value-added manufacturing, and addressing climate and energy challenges. Minister Mutati emphasized the need for a sustainable policy framework to drive economic transformation and reinforce investor trust amidst the global climate crisis.
Beyond investment, Zambia will engage in creating a digital investment toolkit with OECD and contribute to the African Virtual Investment Platform—a collaborative venture with the African Union to attract investments to the continent.
Hon. Mutati expressed Zambia’s enthusiasm to pilot this platform, underscoring Zambia’s commitment to responsible investment, particularly in the critical minerals sector.
During the conference, OECD’s Head of Middle East and Africa Division, Mr. Carlos Conde, reiterated OECD’s commitment to supporting African nations, enhancing Zambia’s digital infrastructure, and bolstering data capabilities for sustainable development.
Additionally, OECD announced a €250,000 grant from Italy to boost Zambia’s critical minerals sector. This funding aims to harness technical expertise and support missions that accelerate Zambia’s growth in this strategic sector.
Hon. Mutati also met with Finland’s Ambassador for Sustainable Development Financing, Ms. Riikka Laatu, to discuss strengthening Zambia-Finland collaboration in digital transformation. Zambia’s ongoing digital transformation strategy focuses on digital infrastructure, platforms, literacy, and digital agriculture.
Minister Mutati urged Finnish support for initiatives like digital market solutions for farmers and a pilot project transitioning border posts from “one-stop” to “non-stop,” which aims to streamline trade and reduce transit times.
Finland lauded Zambia’s advancements and proposed a joint event to highlight Zambia’s digital progress on the global stage.
