The Industrial Development Corporation of Zambia is an investment company wholly owned by the Zambian government, incorporated in early 2014.
IDC’s mandate is to play a catalytic role in deepening and supporting Zambia’s industrialisation capacity to promote job creation and domestic wealth formation across key economic sectors. The IDC plays its role through evaluation, pricing and lowering the investment risk profile by serving as co-investor alongside private sector investors.
The IDC facilitates provision and raising of long term finance for projects. Simultaneously, IDC serves as an investment holding company for State-Owned Enterprises (SOEs) and new investments that ultimately generate earnings for the proposed Zambia Sovereign Wealth Fund.
The IDC is an active shareholder and investor focused on a broad spectrum of sectors including agriculture, forestry, manufacturing, financial services, mining, energy, telecommunications, logistics, medical, education, tourism, real estate and media.
Industrialisation is indispensable for countries to achieve sustainable economic growth that is socially-inclusive and environmentally sound.
It is, therefore, an inevitable solution to bring about the much-needed structural economic transformation.
Industrialisation-induced structural economic transformation will enable our countries to diversify their economies, raise productivity, create better jobs and increase their competitiveness in the global market.
With the establishment of the IDC, it is expected that a consolidated ownership structure will provide the following immediate benefits:
- With a solid consolidated balance sheet, IDC will be in a position to undertake market based operations to raise funding for expansion and modernization of SOEs and wean them off funding from the National Budget;
- Increase synergies and coordination among SOEs under a common ownership structure;
- Ensure that all SOEs align their strategic objectives with Government’s policy of industrialisation and job creation;
- IDC will be in a position to raise resources to support greenfield industrialisation ventures and play a catalytic role in driving growth oriented Zambian owned industries; and
- Develop defined revenue streams from the IDC to fund the Sovereign Wealth Fund, for posterity.