On 24 October 1964, the British colony of Northern Rhodesian became the independent state of Zambia. For the first thirty years after independence, the government under the leadership of Dr. Kenneth Kaunda, the leader of the United National Independence Party and the first president of Zambia, remained relatively closed to foreign investment as many major industries were nationalised.
However, following the establishment of multi-party democracy, and particularly in the last several years, Zambia has become increasingly open to foreign investment in a variety of sectors. The 2006 Zambia Development Agency Act is a key indicator of this commitment to investment.
Zambia in 2012 is a country of approximately 13 million people in an area of 752,614 square kilometers. It is a landlocked country bordered by Zimbabwe, Mozambique, Malawi, Tanzania, the Democratic Republic of Congo, Angola, Botswana, and Namibia. While a number of different languages are spoken throughout the country, English is the primary language of government and business, making communication easier with the international community.
The Zambian political situation remains stable and infrastructure is improving as the economy further develops. Roads, railways, and airports are being vastly improved, particularly in areas of economic significance like the Copperbelt region, and Zambia is a net exporter of electricity. Cell phones can be used in much of the country, and Internet services have become a competitive market that ensures future upgrades to Zambia’s connections with the outside world. There is no exchange control and while Zambia is labeled in the international community as a “slow to pay country,” banks are reliable and increasingly efficient. All of this growth in infrastructure can be attributed to Zambia’s growing economy.
Potential markets are not just limited to Zambia, however, but rather then entire region through its participation in SADC Trade Protocol and the USA via the Africa Growth and Opportunity Act. Both of these agreements offer preferential tariff arrangements and growing markets.
Opportunities abound in manufacturing, agriculture, mining, tourism, and energy, among others. Many investment projects are eligible for incentives under the Zambia Development Agency Act, in addition to the potential for maximum profit.
Please visit our partner site, Invest in Zambia, for more information on investment opportunities in Zambia.