Lusaka, 9th August 2023 – The Israel- Zambia Business Forum recently organised by the Zambia Development Agency and the Israel Ministry of Foreign Affairs in Jerusalem, has generated deals worth over US$800 million.
The forum was held on the side lines of the State visit by His Excellency Mr Hakainde Hichilema President of the Republic of Zambia.
Over 100 Israeli high tech companies in innovation, energy, financial services and agritech participated in the Business Forum together with their Zambian counterparts from agriculture, construction, financial services and innovation.
Key sectors that generated the deals included among others the agriculture, energy, technology and innovation, and financial services. Specifically the deals included the following:
• USD 5 Million- investment of Technology Incubator in Zambia
• USD 50 Million-Investment of a deposit-taking financial Institution in Zambia
• USD 645 Million investment into trade credit insurance and project guarantees
• USD 100 Million investment of 71 Mega Watt Solar and wind energy plant
During the forum, a number of Israeli companies were impressed with the investment environment in Zambia and committed to partner with the Zambian companies on agriculture technology and innovation to increase productivity on crop yields for maize, wheat, avocados and mangos.
In this regard the Zambia Development Agency in collaboration with the Ministry of Foreign affairs in Israel, Export Institution of Israel and the Israel Chambers of Commerce agreed to host a Business Forum in Zambia to actualise partnerships and joint ventures with Zambian companies.
Speaking at the forum, His Excellency Mr Hichilema announced visa waiver for Israeli nationals coming into Zambia to fast track promotion and facilitation of investments from Israel into Zambia.
Israel ranks among the top three countries in the world in innovation with per capita income of USD 54,000.00 and therefore Zambia will greatly benefit from the Israel success and breakthrough in the space of innovation particularly technology and agriculture.
The business forum was held on 02nd August, 2023 in Jerusalem, Israel.
Issued by
Mr. Albert Halwampa
Director General
Zambia Development Agency.
