EIZ Launches Engineering Fund to Drive Innovation and Industrial Growth in Zambia
The Engineering Institute of Zambia (EIZ) has launched the Engineering Fund, a financial mechanism aimed at empowering Zambian engineers, fostering innovation, and strengthening the country’s path towards industrial growth and economic transformation.
Speaking at the launch, EIZ President Wesley Kaluba described the fund as “timely and strategic,” noting its alignment with Zambia’s efforts to diversify the economy, industrialise sectors, and harness the ingenuity of its people.
“The engineering profession has always stood at the centre of human progress. Every bridge that connects communities, every road that links markets, every factory that powers industries, and every innovation that improves daily life has engineering at its heart,” Mr Kaluba said.
He explained that the fund will provide financial support to enable engineering professionals to develop solutions that drive economic growth and address national priorities. It also forms part of EIZ’s broader mission to translate engineering talent into practical applications, particularly in research and development to tackle Zambia’s most pressing challenges.
“The world around us is changing rapidly. Technology is advancing, industries are evolving, and societies are demanding smarter, greener, and more efficient solutions. These require bold, practical, and sustainable approaches,” he added.
EIZ Board Chairperson Bernard Chiwala highlighted that the fund, established in 2024, is a strategic initiative to support both professional and economic development among members. He said it will provide grants to engineering students, facilitate knowledge acquisition, and extend project and industrial development loans tailored to the needs of engineers.
Meanwhile, Zambia Industrial Commercial Bank (ZICB) Chief Retail Banking Officer, Chibota Chiyasa, reaffirmed the bank’s commitment to supporting Zambia’s economic transformation.
“As the only wholly Zambian-owned commercial bank, ZICB takes pride in deliberately supporting local enterprises. SMEs are the true drivers of job creation, innovation, industrial development, and local wealth creation,” Mr Chiyasa said.
The launch of the Engineering Fund marks a significant milestone in Zambia’s industrialisation agenda, with the potential to unlock engineering-led solutions to national development challenges while creating opportunities for future generations of Zambian engineers.
