By 
Vice President Dr. Mutale Nalumango has reaffirmed that Zambia’s economic outlook remained positive, underpinned by ongoing government reforms and support from international partners such as the International Monetary Fund (IMF).
She said the economy was projected to grow by about five percent, anchored on increased investment in both greenfield and brownfield mining projects, as well as expanded opportunities in energy, manufacturing, and agriculture.
Nalumango made the remarks during a bilateral meeting with Toyota Tsusho Corporation on the sidelines of the 9th Tokyo International Conference on African Development (TICAD-9) in Yokohama on Thursday.
The Toyota Tsusho delegation was led by Vice Chairman of the Board Kashitani Ichiro and Executive Officer for Africa Division, Hirata Tatsuya.
She commended Toyota’s longstanding relationship with Zambia and welcomed the company’s plans to diversify investments into renewable energy and healthcare.
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“Zambia’s recent Memorandum of Understanding (MoU) with Toyota Tsusho, ZESCO, and the Ministry of Energy was timely, particularly as the country seeks to reduce its energy deficit and mitigate the impact of climate change on hydropower generation,” she said.
The Vice President also highlighted Zambia’s strategic position as a land-linked hub in Southern and Eastern Africa, urging Toyota Tsusho to take advantage of wider regional markets under COMESA, SADC, and the East African Community (EAC).
Ichiro commended Zambia’s cooperation and announced that the company would send a team of experts to Zambia in October 2025 to explore additional investment opportunities, including new vehicle models tailored for the local market.
Meanwhile, Executive Officer, Hirata, reaffirmed Toyota Tsusho’s strong presence in Zambia through CFAO Mobility, which currently holds 51 percent of the market share.
He also noted the company’s contribution to the health sector through Missionpharma, which has supplied Health Centre Kits containing 60 essential medicines to more than 3,000 health centres nationwide.
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