IDC was established to spearhead the development of Zambia’s domestic industrial capacity, and in so doing, play a major role in creating jobs.
Another measure to empower our citizens is to enable them to own shares in some of the state-owned companies in the country. The Industrial Development Corporation will be an important tool in achieving this goal. All state-owned enterprises must ultimately list on the Lusaka Stock Exchange within the next five to ten years so that we create opportunities for citizens to own these companies.
The IDC’s strategic focus is threefold. Firstly, the IDC will reposition the existing portfolio through recapitalisation, changing of business models, optimising asset utilisation and divestiture. Secondly, it will seek to invest in companies and industries that can leverage Zambia’s natural resources and other endowments to develop a strong home base. Thirdly, the IDC will position itself as a partner of choice for joint ventures and facilitator of citizen involvement in industrialisation through the support of local high impact growth enterprises.
The Strategic objectives of the IDC are:
- To reposition all State-Owned Enterprises through improved management, financial viability, and sustainability and bring loss-making entities to profitability;
- To catalyse private sector investment by co-investing in business ventures with the private sector across the forestry, fisheries, agro-processing, renewable energy, mining value addition and tourism sectors;
- To identify and undertake high risk investments that add value to the country’s natural resources;
- To ensure a balanced and secure return on investment and enhance the capacity of the Corporation to deliver growth to the portfolio;
- To enhance the legal, institutional and group oversight framework in accordance with the tenets of good corporate governance; and
- To identify and mitigate risks in the group portfolio and strengthen the credibility and creditworthiness of the Corporation.