Lusaka 4th December 2023 – The Zambia Development Agency (ZDA) has posted investment leads worth US$ 3.5 million while exhibitors recorded export leads worth over $58.9 million at the Intra African Trade Fair (IATF) 2023 that was held in Cairo, Egypt from from 9th to 15th November, 2023.
The Agency up scaled Zambia’s participation at the third IATF moving from five (05) companies in 2018 to 25 companies in 2023. Key interests in Zambian products were registered from various African countries including Kenya, Ghana, Egypt, Botswana, Uganda, Malawi, Senegal, Zimbabwe, Togo, Rwanda, South Africa and non-African countries including the USA and Russia.
Products of interest largely included processed and refined foods such as sugar, various teas, kombucha, non-alcoholic beverages, porridge and peanut butter; others were gemstones and handcrafts; technological innovations and energy solutions such as solar and biodiesel. In addition there was investor interest with regard to investment opportunities in the Multi Facility Economic Zones and the country as a whole.
ZDA Director General Albert Halwampa noted that Africa should trade and invest more with each other if jobs and wealth are to be retained on the continent.
“We believe that if Africa trades more with each other, invests more with each other, we are bound to increase jobs, value addition and support our industrialisation agenda,” explained Mr Halwampa.
He said the ultimate goal for Zambia’s participation on the 2023 IATF was to establish a foothold in the continental market and showcase Zambia’s products and services to the rest of Africa and other international participants. He commended IATF for creating a platform for African countries to increase exports and investment among African countries.
“We facilitated participation of 25 Zambian companies so that they can network with their counterparts from Africa and other parts of the world and generate trade and investment deals and transactions,” explained Mr. Halwampa.
He said among the notable investment important leads which require follow-up from ZDA include a Facility Agreement and Interstate Guarantee worth $10 million signed by Innovate General Insurance and Intra-Africa Trade Bank (IATB) to explore how ZDA could collaborate with the company and how Zambian exporters can utilize the facility.
The sectors that exhibited included agriculture, Agro-processing, Automotive, Clothing, Infrastructure, Consumer Goods, Creative Industries, Education, Energy & Power, Engineering, Finance, Health & Pharmaceutical, ICT, Innovation, Manufacturing, Mining, and Tourism. The ZDA further showcased investment opportunities in Multi-Facility Economic Zones (MFEZ) and the country in general.
Zambia participated in the third edition of the Intra African Trade Fair (IATF) which took place in Cairo, Egypt from 9th to 15th November, 2023 under the theme ‘Connecting African Markets’.
The IATF is held every two years organised by the Africa Export and Import Bank (Afreximbank), Africa Union Commission (AUC) and the Africa Continental Free Trade Area Secretariat. The Fair is intended to provide a unique platform for facilitating trade and investment information exchange in support of increased intra-African trade, in the context of implementing the African Continental Free Trade Agreement.
The 2023 edition was hosted by the Government of the Arab Republic of Egypt in Cairo and attracted over 35,000 visitors and hosted more than 1,600 exhibitors while offering an unparalleled opportunity to showcase Zambian products and services to a diverse audience of industry professionals, potential partners and investors.
The Ministry of Commerce, Trade and Industry (MCTI) and the ZDA led a team of over 25 private sector companies from agro-processing, financial services, technology and energy among others. Additionally, the GIZ sponsored 10 ten local SMES that were shortlisted during a selection process with officials from the Ministry of Small and Medium Enterprise Development and Ministry of Commerce, Trade and Industry.
/ENDS/
Issued by:
Kwali Mfuni (Ms)
Head Communications and Public Relations,
Zambia Development Agency,
Investment House, Nasser Rd,
Lusaka
Telephone: +260-211-220177/222858
Email: Kwali.Mfuni@zda.org.zm
About the Zambia Development Agency www.zda.org.zm
The Zambia Development Agency (ZDA) is Zambia’s premier economic development Agency with a multifaceted mandate of promoting and facilitating trade, investment and business development in the country. The Agency is also responsible for building and enhancing the country’s investment profile for increased capital inflows, capital formation and employment creation.
