Zambia seeks Spanish investments, as economy attracts $8.5bn in 2022

Zambia attracted over US$8.5 billion worth of investments in 2022, as Spanish investors have been urged to prioritise their investments in the country.

Zambia’s Ambassador to France, Christine Kaseba called on investors to commence their investment activities in sectors of the economy such as tourism, agriculture, manufacturing, mining and energy.

She encouraged the Spanish investors to make Zambia a preferred investment destination of choice.

Kaseba was speaking during a business forum held in Spain in collaboration with Madrid Chamber of Commerce and Industry on Friday.

She said Zambia’s macroeconomic fundamentals were looking better, thereby triggering an increased investor confidence in the economy.

“Just last year we attracted well over US$8.5 billion compared to US$3.3 billion in 2021, representing an increase of 158 per cent. We are encouraging you to be part of this promising investment journey our country has embarked,” Kaseba said.

She further assured the investors of actualising their investment within the shortest period due to the conditions set up by a pro-business government that had placed trade and investment at the core of the national economic development agenda.

“You should take advantage of the huge export markets that Zambia offers such as the African Continental Free Trade Area, Southern Africa Development Community, the Common Market for Eastern, Southern Africa and the European Union Everything But Arms,” Kaseba said.

At the same event, Zambia Tourism Agency acting Chief Executive Officer Chavunga Lungu, appealed to the investors to invest in Zambia’s rich tourism sector which guaranteed premium returns.