Investors optimistic about Zambia’s economic potential despite current debt hurdles —Survey


Investors are optimistic about Zambia’s long-term potential for economic development, particularly in renewable energy, and sustainable agriculture despite the country’s debt and challenges.

This is according to the Zambia Impact Investment Climate Survey 2022/23 report unveiled in Lusaka undertaken by the Zambian National Advisory Board on Impact Investing (NABII), Prospero Zambia Limited and Creo-Hub.

The report showed that despite Zambia’s debt and economic challenges, investors were optimistic and committed to invest in Zambia.

It showed that investors were optimistic about Zambia’s long-term potential for economic development, particularly in Renewable Energy, Sustainable Agriculture, Financial Services and Environment.

“As a result, 82 of investors with existing investments indicated that they would increase their allocations to support their portfolio companies and explore new growth opportunities,” it stated.

Read more: World Bank deeply concerned over pace of Zambia’s debt restructuring process

The report also showed that investors were ready to deploy capital but were limited by the availability of scalable and high impact businesses-the priority impact areas.

This included providing decent work and economic growth, increasing access to affordable and clean energy, gender equality, climate action, zero hunger and poverty reduction.

Speaking during the launch in Lusaka on Wednesday, Lois Mulube, Finance and National Planning Permanent Secretary Administration and Planning said the report was a significant milestone towards driving sustainable economic growth.

“As government, we have taken note of these findings and shall prioritize our efforts towards creating a more business-friendly environment that will unlock impact capital flows and drive sustainable economic growth for Zambia,” Mulube said.

And Prospero Acting Chief Executive Officer, Brian Ross, said the report provided an essential foundation upon which the Government could prioritise efforts that would be responsive to the needs and expectations of investors.

Ross said the report had come at a crucial time when Zambia seeks to achieve a green, inclusive, private sector-led economic recovery and development.

“Prospero is committed to collaborating with the private sector, policymakers, and implementers to promote mutual understanding and implement actions that will lead to meaningful change,” he said.

Meanwhile, NABII Chairperson, Austin Mwape, said these surveys would continue to provide an opportunity for structuring informed interventions that will help attract and retain impact investments in Zambia

“The 2022 survey is unique as it captures important baseline insights from both prospective, and experiences of already active, impact investors. This blend provides a variety of stakeholders with a real opportunity to align expectations with the actual experiences on the ground, therefore, presenting a critical input into the decision-making process for investments and policy formulation in the impact investment space,” he said.

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