FDIs

Zambia’s investment agency says on Friday that it recorded an increase in investment in 2019 compared to the previous year.

The Zambia Development Agency (ZDA) says it recorded 12.6 billion U.S. dollars in investments in 2019, an increase from 4.8 billion dollars recorded in 2018.

Matongo Matamwandi, acting Director-General of the investment agency attributed the increase to the agency’s efforts to attract high value investment projects.

According to him, the energy sector recorded the highest value of investment of 5.5 billion dollars while the agriculture sector was second with 2.4 billion dollars worth of investment.

The investment agency recorded a total of 390 investment projects during the year although the number of jobs declined from 27,000 in 2018 to 21,000 in 2019.

Meanwhile, the investment agency was targeting to attract more investments in 2020 after turbulent times faced in the economy in 2019. Enditem

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