By 
Zambia Development Agency (ZDA) Director General Albert Halwampa has called for a comprehensive investment due diligence framework to strengthen responsible investment and improve coordination among government institutions.
Halwampa said Zambia already had robust due diligence measures in place which include investor screening, verification of funding sources, Environmental, Social and Governance compliance, and post-investment monitoring.
He made the call on Wednesday during a panel discussion on Sustainability Initiatives and Due Diligence at the 50th Anniversary of the Organisation for Economic Co-operation and Development (OECD) Global Forum on Responsible Business Conduct in Paris.
The discussion explored how businesses and regulators can apply a risk-based approach to due diligence, alongside challenges in compliance, enforcement and policy coordination.
“Particularly in the mining sector, to ensure investors comply with environmental requirements and responsible business practices,” Halwampa said.
He noted that monitoring was a key part of Zambia’s current approach, but that these requirements were fragmented across different institutions and the lack of a unified system created gaps in coordination and oversight.
“Zambia needs a unified due diligence framework aligned with international best practices to enhance transparency and support responsible investment,” Halwampa said.
He outlined several of Zambia’s existing investment safeguards. These include measures to combat corruption and monitoring of investment incentives.
“Implementation of the local content policy requiring at least 20 percent local participation to ensure investments benefit local communities. The policy is designed to link foreign investment to local economic growth,” Halwampa said.
The ZDA chief argued that a consolidated framework would help government agencies work together more effectively and also give investors clearer guidelines and reduce duplication in compliance processes.
Read More: Zambia’s PPP framework attracts over $19 billion, envoy tells UAE investors
“We want to ensure that investment delivers for Zambians while meeting global standards,” Halwampa said.
He stressed that responsible business conduct was central to sustainable development.
In a related development, the OECD would undertake a Responsible Business Conduct initiative across Sub-Saharan Africa and agreed with ZDA to position Zambia as a key focus for the programme.
“The initiative aims to promote responsible investment, strengthen due diligence across global supply chains, and support inclusive and sustainable economic growth,” Halwampa said.
The OECD Global Forum on Responsible Business Conduct brings together governments, business, and civil society to advance due diligence and sustainability standards worldwide.
Zambia’s participation signals its intent to align with international norms while attracting quality investment. The proposed framework would consolidate screening, monitoring, and enforcement under a single coordinated system.
WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.
Comments