ZLA Foundation takes pride in promoting Zambia as an investment option. It was an honor that Atlanta Mayor Andre Dickens welcomed our session with Global Atlanta. Dr. Freda Mwamba Brazle, Founder of ZLA, collaborated on this event with Global Atlanta Managing Director Trevor Williams. In attendance were Zambian Ambassador Chibamba Kanyama, Mr. Ceasar Siwale (CEO of Pangea Securities), and Ms. Venus Hampinda (CFO of ABSA Bank), who shared the benefits of investing in Zambia.

Here are the key takeaways from this session with Global Atlanta:

 

Zambia’s Ambassador to the USA, H.E. Chibamba Kanyama

  • 54 countries in Africa have different ideologies, economic plans, and legislation towards investment. Efforts to harmonize economies of scale through regional engagements at the government level are ongoing.
  • Zambia’s business profile was initially aligned with a socialist economy. The mining sector was nationalized for at least 7 years.
  • In 1991, a change in the economic landscape in Zambia allowed private capital to enter the country. Over 200 parastatals were privatized.
  • There has not been significant growth in job creation. The level of unemployment among youth in Zambia is at an all-time high, a similar story in Kenya, South Africa, and several other African countries.
  • Investment between the USA and Zambia faces barriers due to return on investment risks and policy restrictions.
  • Competition for investment is also present among USA companies themselves.
  • The Government of Zambia assures protection of assets and investment from US companies through policy reversals.
  • Laws and legislation in Zambia can support investment opportunities.
  • Roundtable discussions and platforms are encouraged to facilitate negotiation and restructuring of policies to assure sound investments, moving away from socialist structures to more commercially viable economic investments.

 

Ceasar Siwale: CEO of Pangea Securities Zambia

  • Leveraging PPPs (Public-Private Partnerships) and JVs (Joint Ventures) has enhanced investment opportunities of over $30 million in the Mining and Agriculture Sectors.
  • South Africa is deliberate on diversity and BBEEE policy.
  • Investments outside Zambia and across the African region have been achieved in Angola, Botswana, Mozambique, Namibia, and Zimbabwe.
  • Developing the Southern African Infrastructure Fund is working towards $1.5 billion in the fund.
  • Default guarantees and project insurance assure investor confidence.

 

Venus Hampinda: CFO of ABSA Bank Zambia

  • Policy integration is key to promoting investment opportunities between the USA and Zambia.
  • An inclusive diversity policy favoring women and youth empowerment is crucial to enforcing job creation.

 

 

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