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The Industrial Development Corporation (IDC) has launched the Intra-Group Marketplace, aimed at strengthening State-Owned Enterprises (SOEs) through collaboration and enhancing intra-group trade.
The IDC Intra-Group Marketplace is expected to drive competitiveness, amplify the economic impact of the Group, and facilitate seamless trade and collaboration among its subsidiaries.
Finance and National Development Planning Minister, Dr. Situmbeko Musokotwane, launched the application in a speech read on his behalf by Ministry Director of Finance in charge of Local Government and Projects, Murdsen Ruveve.
During the launch, which took place at Mulungushi International Conference Centre in Lusaka on Wednesday, Musokotwane said the marketplace enables companies to leverage each other’s strengths, reduce procurement costs, and enhance operational efficiencies.
“By fostering a culture of collaboration, we are transforming our SOEs into competitive and self-sustaining entities that contribute meaningfully to Zambia’s economic development,” he said.
Musokotwane stated that enhancing intra-group trade is essential to building a resilient economy, noting that by prioritizing internal sourcing, SOEs can mitigate external shocks, stabilize supply chains, and retain value within the Zambian economy.
He said the approach not only supports the growth of individual subsidiaries but also strengthens the collective competitiveness of the IDC Group.
“The IDC Group plays a crucial role in Zambia’s economic landscape with a combined asset base exceeding K300 billion in December 2024. To date, the IDC has received over K1 billion in dividends, reinvesting these funds to support the expansion and modernization of its subsidiaries,” Musokotwane revealed.
He said the reinvestment strategy has led to a decline in loss-making institutions within the group, reflecting improved financial health and operational performance.
Musokotwane added that, in line with the 2026 National Budget allocating K253.1 billion toward consolidating economic and social gains, the IDC Group’s initiatives align with government priorities of fostering economic growth, job creation, and infrastructure development.
“The budget’s emphasis on sectors such as agriculture, mining, and manufacturing complements the strategic objectives of the IDC Group, creating a synergistic environment for sustainable development,” he said.
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Earlier, IDC Chief Executive Officer, Cornwell Muleya, said the Group has grown to manage a diverse portfolio of 36 companies across strategic sectors of the economy.
Muleya, however, noted that collaboration within the Group had not matched its scale, with subsidiaries often working in silos, duplicating costs, and missing opportunities to build stronger, more competitive value chains.
“The result is that while the IDC balance sheet is large, the share of intra-group trade remains small. Collectively, our subsidiary companies generated over K45 billion and K40 billion in annual revenues in 2023 and 2024, respectively,” he stated.
Muleya said that despite the large footprint, intra-group trade remains modest, accounting for less than 5 percent of overall transactions.
He revealed that in 2024, intra-group trade transactions were valued at K1.1 billion, down from K1.7 billion in 2023.
“This mismatch represents untapped value. Our subsidiaries often procure outside the group, even when the same products and services are available internally,” Muleya said.
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