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ZDA POSTS US$5.8 BILLION PROJECTED INVESTMENTS

BY BUUMBA CHIMBULU

ZAMBIA Development Agency (ZDA) has posted US$5.8 billion worth of projected investments in 2020, representing a 19.7 percent growth.

This was from the 326 registered investment projects that were recorded in 2019 compared to 350 posted in 2020, says ZDA board chairman David Masupa at a media briefing in Lusaka yesterday.

In the year under review, the ZDA recorded US$5.841 billion worth of projected investment from US$4.880 billion in 2019.

Of the total registered investments in 2020, Bishop Masupa said about US$3.170 billion came from Foreign Direct Investment (FDI) and about US$2.68 billion was Domestic Direct Investment. He said this represented a 54.3 per cent and 45.7 per cent of the total projected investment respectively.

In addition, Bishop Masupa said the Agency registered re-investment worth US$1.97 billion from the 26 investment projects in 2020 compared to US$3.95 billion from 76 projects recorded in 2019.

“These investors were expected to expand their businesses and to create 1,626 additional jobs in 2020, compared to the 1,101 jobs that were projected to be created by re-investments in 2019,” he said.

He said it had in the last five years posted positive trend in the growth of projected investments, mainly in Greenfield Projects.

Bishop Masupa indicated that the projected surge in investments confirms the relative conducive business and investment climate created by the Government through ease of doing business reforms, political and economic stability.

“Notwithstanding the negative effects of the Covid-19 pandemic on investments such as the increase in risk aversion, uncertainty, travel restrictions and the freezing of global investment capital, the continued growth of projected investment attests to the continued interest in Zambia as a preferred destination for investment,” he said.

During the period under review, Bishop Masupa said the manufacturing sector recorded the highest projected investment of US$ 2.67 billion, representing 46 per cent of the total investment.

He said the energy and transport sectors were second and third highest with projected investment of US$1.66 billion and US$ 0.64 billion, accounting for 29 per cent and 11 per cent, respectively.

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