Zambia sees 0.7 percent increase in investment pledges in 2016

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Zambia recorded a 0.7 percent increase in investment pledges last year compared to the previous year, its investment agency has said.

dollarsFigures released by the Zambia Development Agency (ZDA) on Wednesday show that the country recorded 3.4 billion U.S. dollars in investment pledges in 2016, a 0.7 percent increase from 2015.

“The investment volume recorded in 2016 may be attributed to the fact that investors tend to hold on to their planned investments until they get assurance of political stability, which was not the case in Zambia in 2016. Therefore, with the election period over, ZDA envisages an upward trend in pledged investments and employment in the year 2017,” Patrick Chisanga, the agency’s director-general said in a statement posted on ZDA’s Facebook page.

The energy sector registered the highest amount of pledged investment of 878 million dollars, representing 26 percent of the total pledges followed by the manufacturing sector at 22 percent and the agriculture sector at 15 percent.

Investors’ interest in the energy sector was due to a power deficit the country has been facing since 2015, the official added.

The agency however said actualized investment will only be known by end of September 2017 although preliminary estimates indicate that it could be at 950 million dollars, down from 1.4 billion dollars recorded in 2015. Enditem

Source: Xinhua/NewsGhana.com.gh

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