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Development Agency says many mining companies seeking to invest in Zambia


The Zambia Development Agency (ZDA) says it received a number of enquiries from investors interested in setting up investment in the Multi-Facility Economic Zones (MFEZ) at the just ended annual mining indaba in South Africa.

Overseer of the MFEZ at the Zambia Development Agency (ZDA) Jones Zulu, said the agency received a surprising number of enquiries at the Indaba.

Read more: Zambia Development Agency claims $5bn worth of investment intent received

“This year has been so much better than last year for ZDA. We have seen a lot of interest from people that are wanting to invest in Zambia or looking for partners to work with in both mining and mining-related opportunities,” he told Mining for Zambia magazine on Friday.

Zulu said Government encouraged manufacturing companies to set up in special multi-facility economic zones in exchange for certain incentives.

He said several mining companies had been enquiring about setting up [new] special economic zones.

“Other people want to set up inside an existing zone, so we have had interest from both angles.

“The strength of these Multi-Facility Economic Zones lies partly in the fact that they are incentivise ‘value addition’, encouraging companies to add value to a product before exporting or consuming it locally,” Zulu said.

And ZCCM-IH Board Chair Dolika Banda said the Indaba had been all about consolidating relationships and finding strategic new partnerships.

Banda said Since 2022, Zambia’s mining industry has seen something akin to “a 180-degree turn.”

“When we were speaking last year, Mopani was on the verge of collapse. ZCCM-IH together with Copperbelt Energy Corporation had to take the lead in negotiating with different critical creditors to keep the lights on.

“We had no idea who was going to partner with us to help bring this mine to optimum production. Now we have a short list of potential strategic partners and have reached very high level discussions, especially this week,” she said.

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