EU and UK Ramp Up Investment in Zambia’s Green Growth and Agri-Business Sectors
The European Union (EU) has approved the second phase of the Enterprise Zambia initiative, valued at approximately €36 million, aimed at supporting agriculture and agri-business development along the Lobito Corridor. The initiative is being implemented in collaboration with the German Government.
EU Head of Cooperation Claudio Bacigalupi reaffirmed the EU’s commitment to enhancing Zambia’s private sector and expanding access to finance. He also announced the launch of GREENTech4CE, a €27 million initiative targeting Small and Medium Enterprises (SMEs) to promote green technology and a circular economy.
Speaking on Tuesday during the opening of the two-day Impact Capital Africa Conference at Ciela Resort in Chongwe, Bacigalupi said the EU is using blended finance approaches to drive the transition toward a green and digital economy.
He emphasized that the EU has placed the private sector at the heart of its Global Gateway Strategy, offering countries like Zambia opportunities for innovation, inclusivity, and sustainability.
“Impact investment has a crucial role in realigning financial returns with positive social and environmental outcomes. We can unlock transformative growth and empower communities across the continent,” he said.
Bacigalupi highlighted the success of Enterprise Zambia, noting that a recent evaluation showed that companies supported under the programme had expanded their operations, invested in infrastructure and training, and adopted sustainable practices.
These improvements, he said, led to increased revenue, greater resilience, and stronger industry partnerships.
“Over 170,000 people directly benefited from this EU-supported intervention, which aimed to reduce social and economic inequality. Additionally, more than 3,200 full-time equivalent jobs were created,” Bacigalupi stated.
Meanwhile, British High Commissioner to Zambia Rebecca Terzeon reaffirmed the UK Government’s commitment to supporting Zambia’s economic growth through strategic investments in power and trade infrastructure, including the Zambia-Tanzania Power Interconnector.
She noted that, through the Financial Sector Deepening Africa (FSDA) programme, the UK is providing technical expertise to support the issuance of Green Bonds and offering capacity-building for climate-related financial disclosures, ensuring Zambia’s development is sustainable.
“The British International Investment (BII), the UK’s development finance institution, plays a vital role in our commitment to sustainable development across Africa. To date, BII has invested over $4.5 billion in more than 700 businesses across the continent,” Terzeon said.
Also speaking at the event, Impact Capital Africa representative Jeffrey Scheidegger announced that businesses pitching their ideas at the conference over the past three years had collectively raised $100 million in capital.
Special Assistant to the President for Economic, Investment, and Development Affairs, Jito Kayumba, officially opened the conference and reaffirmed the Zambian Government’s commitment to maintaining a conducive business environment for all investors.
The conference is being held under the theme: “Harnessing Impact Capital for Sustainable Developme
