The Zambia Development Agency in partnership with the Embassy of Finland in Zambia, the AGS Programme and Absa Bank Zambia Plc on Monday 12th September 2022 flagged off the trade mission to the Democratic Republic of Congo scheduled to take place from 22nd to 24th September 2022 in Lubumbashi.
Speaking at a Media Briefing in Lusaka, ZDA Acting Director General Albert Halwampa in a speech read on his behalf by Director Policy and Planning Innocent Melu stated that DRC is the largest market for Zambia’s NTEs.
Mr. Halwampa stated that in 2021, exports to the DRC amounted to 1.1 billion US dollars, accounting for 41% of the total value of the NTEs and an increase of 22% compared to 898.8 million US dollars that was recorded in the previous year.
He noted that in order to maintain the country’s foothold in the DRC market, the Agency conducted market research and followed it up with a trade mission last year.
“Resulting from the 2021 trade mission, the participating companies generated leads worth US$ 43 million and orders amounting to US$ 20 million. To date, out of the US$ 20 million orders generated, more than US$ 6 million worth of transactions have been actualized through exports to the DRC,” he explained.
“In this regard, the Agency has embarked on building on the gains recorded in 2021 by undertaking another trade mission into Lubumbashi.” he added.
Meanwhile, Gareth Evans, Chief Technical Advisor, AGS Programme said his organisation was once again very pleased to be the anchor sponsor for trade mission to DRC with ZDA.
Mr. Evans stated that last year AGS was also the anchor sponsor for the first trade mission to DRC in around 6 years which resulted in $20m of confirmed trade deals.
“We are looking forward to seeing similar results from this trade mission. Around 50 businesses will be participating in the mission, all the businesses have received sponsorship either from AGS or support from ABSA. As Programme we are grateful for the strong working relationship with ZDA, and I congratulate them and the AGS team for their hard work in preparing for this event,” elaborated Mr. Evans.
And Absa Bank Zambia PLC Managing Director, Mizinga Melu stated that Absa’s support of the trade mission once again is an indication of the Bank’s dedication to supporting the growth of SMEs in Zambia.
“This mission is timely and will further deepen market linkages and deepen trade relationships between the two countries. The mission will help our local SMEs to scale-up their businesses and I am proud that Absa is able to support this initiative as we continue to bring possibilities to life. Absa will be providing financial support valued at K100, 000 alongside other support services for the upcoming mission,” she said.
Mrs. Melu further stated that ZDA and Absa Bank Zambia Plc share a common vision for developing the MSME sector in Zambia and signed a memorandum of understanding in July 2021with an objective to facilitate the provision of business financing and other business development services to MSMEs.
The 50 Zambian companies are from various sectors including agriculture, agro-processing, mining, engineering and chemicals and pharmaceuticals among others, will participate in Business-to-Business Meetings with buyers from DRC through a well-coordinated match making process based on the profiles of the companies.
