Joanna James
The African nation of Zambia has grown by leaps and bounds, especially during the past 10 years which has made the country a potential portal for widespread growth and investment opportunities. For example, in this period the country’s economic growth exceeded 5% and is largely attributed to the expansion witnessed in service-based industries, mining and construction. For future investors considering Zambia as their next investment avenue, the following details should be taken into consideration.
The country’s government has focussed its attention on adopting sound and practical macroeconomic policies that have resulted in a stable environment being created. Therefore, many structural changes have seen the light of day with respect to investment and trade facilitation with Zambia now regarded as the most sought-after destination in Africa primarily from a macroeconomic standpoint. Further, the cost of engaging in business has reduced in recent times and on top of this, the country boasts a slew of advantages that will certainly require one’s attention. For starters, Zambia features an abundance of manpower and natural resources to tap into. Also, there is no control over prices, interest rates and foreign exchange rates while the establishment of Multi-Facility Economic Zones (MFEZs) has spurred development across multiple sectors with a firm focus on the future.
A proactive approach underpins the efforts of the local government with a shift in direction away from the mining sector already beginning to pay off. Thus, creating more Public Private Partnerships (PPPs) and furthering public sector output & revolutionising infrastructure remain among the key goals of the present government. Having looked at the value of what the country represents, it is advisable to factor in the following sectors and industries before making an informed decision.
Zoning in on those areas that arrive with reputations to safeguard is your best bet on the subject of investing in Zambia. For instance, mining remains integral to the local economy with copper mining playing a pivotal role in this regard. Evidencing this thought, in 2016 Zambia was the 2nd largest producer of copper in the African continent and the 9th in the world, in short, is home to a wide range of mineral resources such as gold, zink, nickel, gemstones and industry & energy minerals. These offer outstanding value and investment opportunities in the extraction and processing of the same. Furthermore, from the 752,000 sq km that make up Zambia, 58% of these lands are recognised as being fit for cultivation. However, a mere 14% of the above number is currently in use which will pleasantly inform you that there is significant potential in the agriculture sector. In terms of attracting investors, new farming blocks have been declared open for the sake of engaging in cultivation and agro-businesses. Added to this is the introduction of non-essential crops in the likes of tobacco, cassava and coffee that have combined in generating increased momentum within Zambia’s agriculture sector. What makes Zambia’s tourism sector a rewarding and worthwhile avenue to conduct business in boils down to its many value additions. Aside from a tropical climate, the country has access to stunning national parks & game management areas, waterfalls and lakes & rivers to make use of. For example, the Kasaba Bay Integrated Development Plan was unveiled given the development of a large number of sites within the boundaries of Nsumbu National Park where the necessary infrastructure was put in place accordingly to appeal to both local and international investors. Also, the country’s tourism capital Livingstone has been the subject of development with an integrated initiative underway that will see regions such as the Songwe Gorge TAAP sites and Dambwa TAAP site receiving significant attention. On a concluding note, more hotels have also sprung up in and around popular landmarks and tourist hotspots such as Royal Livingstone Hotel by Anantara. From this Livingstone hotel, Victoria Falls which ranks as one of the Seven Natural Wonders of the World can be conveniently reached.
A true believer that the pen is a mighty weapon, ventures into reaching the minds of every reader with the earnest hope of leaving an indelible stream of thought.
A travel writer who has a passion for fashion and a deep interest in admiring new and exotic attractions around the world.
