UK pledges more investment, partnerships to support Zambia’s growth agenda

The stock of United Kingdom (UK) investment in Zambia has exceeded £3 billion, making the UK one of the country’s largest investors, while the UK-Zambia Green Growth Compact has attracted an additional £1.6 billion in UK-linked investment since 2021, British High Commissioner Rebecca Terzeon has said.

Terzeon said the UK was ready to bring more investment, expertise and partnerships to help turn Zambia’s growth ambitions into reality under the Grow Zambia agenda.

She was speaking at the British Residence in Lusaka during celebrations to mark the Official Birthday of King Charles III.

Terzeon said the UK-Zambia partnership remained strong and enduring, built on a shared language, familiar institutions and legal traditions, Commonwealth membership and deep connections between the people of the two countries.

“The United Kingdom remains a committed and natural partner for Zambia. We are ready to bring investment, expertise and partnerships to turn the Grow Zambia agenda into real opportunities for Zambians,” Terzeon said.

She said President Hakainde Hichilema had described the UK as a natural partner for Zambia, adding that the two countries shared a commitment to sustainable, inclusive and green growth.

“Growth must be sustainable, resilient and inclusive. It must create stronger businesses, more skills, better jobs and deeper local supply chains that help reduce poverty and build resilience to shocks such as El Niño and Ebola,” Terzeon said.

She said Zambia had an important role to play in the mineral supply chains needed for the global energy transition, adding that prosperity must be underpinned by macroeconomic stability, effective institutions, accountable government, political pluralism, freedom of speech and the rule of law.

“We are moving from delivering services for Zambian citizens towards sharing expertise and strengthening systems and institutions so that Zambia can deliver for its own people,” she said.

Terzeon cited British International Investment’s support for small and medium-sized enterprises (SMEs) and its role as an anchor investor in Zambia’s first sustainability bond.

She also highlighted the UK’s £15 million contribution to the Zambia-Tanzania Interconnector, which helped unlock a further US$300 million from the World Bank and the European Union.

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