Zambia’s Foreign Minister Decries Unequal FDIs at Global Finance Conference
Zambia’s Minister of Foreign Affairs and International Cooperation, Hon. Mulambo Haimbe, SC, MP, has raised concern over the disproportionately low share of Foreign Direct Investments (FDIs) and capital inflows to developing nations, warning that the imbalance continues to stifle economic growth and deepen inequality.
Speaking during a side event titled “Private Sector Capital: A Dialogue with Global Investors” at the Fourth International Conference on Financing for Development (FFD4), Hon. Haimbe pointed to unequal capital allocation and limited access to global trade as key barriers to poverty reduction and sustainable transformation in the Global South.
“The high cost of borrowing and minimal FDI flows are compounding the structural constraints already faced by developing countries,” said Hon. Haimbe. “This not only undermines efforts to industrialize but also perpetuates cycles of dependency and underdevelopment.”
He emphasized the need for more inclusive Public-Private Partnerships (PPPs), which could enable shared risk-taking and joint infrastructure development. He also urged global investors to partner with well-established domestic enterprises to reduce perceived investment risks.
Despite the challenges, Hon. Haimbe expressed optimism that sustained dialogue with institutional investors could unlock greater collaboration and mobilization of capital for development. “FDIs must be aligned with the Sustainable Development Goals (SDGs), if we are to make meaningful progress,” he said.
Fellow speakers at the event echoed calls for stronger data systems, improved regulatory frameworks, and enhanced cooperation among governments, investors, and international bodies to turn the promise of the SDGs into tangible, measurable outcomes.
