Zambia : gov’t invested heavily in 2018

A man displays a 50,000 Kwacha note in Lusaka January 23, 2012. Photo : REUTERS

NEWSROOM (ADV) – Zambia recorded about 3.9 billion U.S. dollars of projected investment in various sectors of the economy in 2018, its investment agency said on Wednesday.

Of the total projected investment, the energy sector recorded the highest value at 1.5 billion dollars, representing 39 percent of the total, followed by the manufacturing sector with 708.4 million dollars while the mining industry was third with 241 million dollars, according to the Zambia Development Agency (ZDA).

Cosam Ngoma, the investment agency’s acting director-general, said the increased projected investment in the energy sector was a direct result of government’s efforts in the promotion of increased investment in alternative sources of energy in addition to hydro power after experiences of 2015 and 2016 when the county faced a power deficit.

He said in a release that 21.7 million dollars out of the total projected investment went into various multi-facility economic zones and industrial parks around the country.

The investment resulted in the creation of 20,709 jobs in 2018, he added.

“Given the conducive climate such as political and economic stability, ease of doing business and good governance, investment into the country is projected to increase,” he said.

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