• Zambia and Germany have been doing business with each other from time immemorial.
• The country has a stable political system since independence in 1964.
• Between 2015 and 2020, Zambia imported goods worth USSD 423, 533 from Germany.
Zambia Development Agency (ZDA) has called on German investors to consider exploring the vast investment opportunities in the country.
Speaking during a German Zambia Business Webinar dubbed ‘Doing Business in Zambia, Agency Acting Manager Investment Promotion Samson Simwanda explained that Zambia and Germany have been doing business with each other since time immemorial.
Mr. Simwanda disclosed that Zambia has been importing machinery, data processing and electric equipment, vehicles, chemicals, oil and gas, metals, pharmaceuticals, foodstuffs, agricultural products among others.
“Between 2015 and 2020, the country imported goods worth 423, 533 US dollars from Germany and only exported 9, 651 US dollars during the same period,” Mr. Simwanda revealed.
He further urged German Investors to invest in the manufacturing, agriculture, energy, tourism and infrastructure sectors, as they are considered Zambia’s priority sectors.
Mr Simwanda said the processing of minerals such as Copper, Cobalt, Gemstones, Gold and the manufacturing of agricultural equipment are some of the opportunities available in mining.
“In the energy sector, there are opportunities in solar energy projects, geo-thermal plant, biofuel energy projects and petroleum products,” he explained.
He pointed out that the country is an ideal investment destination owing to its central location and increased market access due to membership to the Southern Africa Development Community (SADC), Common Market for Eastern and Southern Africa (COMESA) and its recent endorsement of the African Continental Free Trade Area (AFCFTA).
And speaking during the same webinar, Zambia’s Ambassador to Germany Anthony Mukwita assured German investors that their investments are safe in Zambia as government through ZDA issued investment guarantees and securities to protect investments.
Mr. Mukwita further encouraged German investors to invest in Zambia saying the country has a stable political system since independence in 1964.