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Invest Africa, a leading business and investment platform, has said Zambia is set to attract foreign investment due to its ripe business environment.
Karen Taylor, Chief Executive Officer, spoke exclusively to Zambia Monitor in an interview in Lusaka on Wednesday, stating that Zambia was ready for investment.
She said: “As a delegation, we feel the country is ready for investment, the environment is right, and it’s very much Zambia’s moment which should be grabbed with both hands.”
When asked how Invest Africa was helping to build sustainable bridges between foreign investors and local players, Taylor said their mission was to link the delegation to local partners.
She said the conversation with government was really important and believes the relationships the delegation forms during their time on the ground will be second to none in terms of the value they provide.
“We had a concentrated two or three days together with local businesses, so we had formal meetings during the day, and in the evening, we had networking opportunities and interacted with local businesses here in Lusaka,” Taylor said.
She added that they were in Zambia to maximise investment and trade opportunities available in various sectors of the economy.
Taylor led a delegation in Lusaka and held a round-table discussion with President Hakainde Hichilema on Tuesday.
“We were looking forward to coming to Zambia to make sure we have an opportunity to connect local partners with our investment delegation and investment delegation members with the government”.
“We are a trusted entry into Africa, and we support and connect businesses to one another both here and in the United Kingdom,” Taylor said.
The delegation comprised companies from nine countries coming from the energy, mining, infrastructure, education, financial services, hospitality, and logistic sectors, which are interested in investing in Zambia because of the business-friendly environment.
“We met with Mikir Shah, Chief Executive Officer of Africa Specialty Risk, one of the companies in the delegation and headline sponsor of the investor and trade mission to Zambia,” she said.
Furthermore, Taylor stated that President Hichilema said Zambia was on the move and asked Invest Africa to help him by identifying linkages to investment and impediments to help drive trade and investments in the country.
“Mr Hichilema said investment should be domestic, regional, and foreign. This is in line with our agenda to concentrate on the regional and foreign investment,” Taylor stated.
When asked on the expectation of the trip, she hoped that this would give an opportunity to the organisation to host the President at Invest Africa’s annual flagship event, The Africa Debate in London on May 11, 2023.
“This partnership dates back to the Mining Indaba in South Africa last year when the Head of State asked us to bring a trade delegation to Zambia which is the first step in the dialogue, and next is an opportunity to host the President at our annual flagship event”.
“This will give us an opportunity to carry on trade and connect with partners so that we are keeping Zambia on the map in terms of investment opportunities in the course of 2023,” Taylor said.
She pointed out that the organisation has a membership platform and event network, which effectively connects them in Africa and allows them to play a role and contribute towards social and economic development.
Taylor said this was done by guiding sustainable capital projects and opportunities into Africa through its investor missions, hence its role here in Zambia.
Mikir Shah, Chief Executive Officer, Africa Specialty Risks said: “The African continent, and Zambia in particular, offers vast investment opportunities, and we believe that ASR can play a significant role in unlocking this potential by providing adequate insurance cover for risk mitigation from initial investment through construction to operation.”
While in Zambia, the Invest Africa delegation met with the Minister of Finance and National Planning, Situmbeko Musokotwane, as well as Technology and Science Minister Felix Mutati and other Cabinet Ministers.
They also held discussions with the business community in Zambia, including the Zambia Development Agency and Development Bank of Zambia, among others.
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