25 January 2013

Zambia in U.S.$10 Billion FDIS

ZAMBIA attracted US$10.142 billion worth of investment inflows in 2012, the highest ever recorded in the history of Zambia.

Zambia Development Agency (ZDA) investment promotion director Florence Mumba said the country posted more than $10 billion worth of investment pledges exceeding the targeted $4 billion.

In an interview in Lusaka yesterday, Ms Mumba said the $10.142, 583,971 worth of investments in the various sectors of the economy had come because of the improved investment climate and stability in major macro-economic indicators.

In 2011, Zambia recorded in excess of $4 billon worth of Investments.

Ms Mumba said 2012 was one of the most successful years in the history of ZDA with the largest component of the investment pledges coming from the mining sector at 40 per cent, manufacturing sector at $700 million and the energy sector registering about $ 600 million.

For the period under review, the agency recorded employment pledges of about 31,000.

According to the latest ZDA report, in the first quarter of 2012, the total pledged investment of the approved projects amounted to $1,392,093,476 with expected job creation of 7,885 opportunities.

For the second quarter, total pledged investment of the approved projects reached $2,762,115,589 with an expected job creation of 10,893 opportunities for the local people.

This represents an increase of about 55 per cent of pledged investment when compared with the same period in 2011 with corresponding increase in pledged employment opportunities from 8,934 in 2011 to 10,893 in 2012 representing a 22 per cent increase.

In the third quarter of 2012, a total of $ 2,835.4 million investment pledges were registered by ZDA in different sectors of the economy.

These represented an impressive increase of more than 100 per cent in comparison to $ 555.4 million investment pledges recorded in different sectors of the economy in the same period in 2011.

The mining sector registered the highest amount of pledged investments in the quarter under review totalling $ 1,798.5 billion accounting for 63.4 per cent of the total investment pledged.

The energy sector was second with pledges of $ 700 million accounting for 24.7 per cent.

During the fourth quarter, a total of $ 3,152,977,136 investment pledges were registered by ZDA in different sectors of the economy.

Copyright © 2013 The Times of Zambia. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.