Lusaka: 21st June, 2022 – The Zambia Development Agency (ZDA) and the Kenya Investment Authority (KenInvest) sealed a five year Memorandum of Understanding (MoU) aimed at enhancing cooperation of the two institutions in investment promotion and exchange of investment related information.
The MoU was signed in Kenya Nairobi on the side-lines of President Hakainde Hichilema’s official visit to Kenya as part of his constant search for economic opportunities for the people of Zambia.
Through the MoU the two institutions have established a practical framework for the development of a stronger business relation and strengthening of institutional relations and capacity building through mutual cooperation.
The objectives of the MoU include leveraging on parties resources in promoting Foreign Direct Investments (FDI) consistent with the underlying institutional mandate and legal framework of the two institutions.
In addition, the two institutions hope to jointly execute activities that will enhance the investment relations between Zambia and Kenya, strengthen and maintain technical cooperation in areas identified in the agreement.
The identified areas of collaboration include investment promotion and business facilitation, information exchange, collaboration and exchange programmes, organisation of events and aftercare facilitation.
In the area of Investment Promotion, the two parties agreed to facilitate and aid investors from the country of one party desiring to invest in the country of the other party. Further the parties will focus on both outward and inward foreign direct investment between both countries while collaborating and assisting each other in establishing, developing and packaging investment projects in both jurisdictions.
In terms of Collaboration and Exchange Programmes, the two institutions will encourage and support the exchange of technical expertise, knowledge and training opportunities in Investment Promotion, Investment facilitation, Investor Aftercare and Policy Advocacy.
The two parties will also promote the transfer of technology between the two countries in priority sectors of their economies and encourage linkages and partnerships between Small and Medium Enterprises (SMEs) from both countries.
Meanwhile in the area of Organisation of Business Missions, the two parties will organise delegations related to investment to the country of either party and participate in exhibitions, meeting and conferences organised by either party.
The MoU was signed by ZDA Acting Director General Albert Halwampa and Ms. Olivia Rachier Managing Director Kenya Investment Authority.
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Issued by:
Russel Haamubbi (Mr.)
Acting Manager Communications and Public Relations
Zambia Development Agency
Privatization House, Nasser Rd
Lusaka
Telephone: +260-211-220177/222858
Email: Russel.Haamubbi@zda.org.zm
About the Zambia Development Agency www.zda.org.zm
The Zambia Development Agency is Zambia’s premier economic development Agency with a multifaceted mandate of promoting and facilitating trade and investment in the country. The Agency is responsible for building and enhancing the country’s investment profile for increased capital inflows, capital formation and employment creation.
