Today our Head Investment – Mining and Energy Mr Mulumba Lwatula participated as a panelist at the Zimbabwe – Zambia Business Forum, in Harare, speaking on “Investment opportunities between Zimbabwe and Zambia”
Noting that IDC has a vast investment pipeline, Mr Lwatula narrowed his discussion to investment opportunities in the energy, agriculture and mining sectors as having the greatest potential for economic enhancement for the two countries. In the renewable energy space, Mr Lwatula said the IDC has projects that are ripe for investment such as solar PV plants dotted around the country. He urged the business community in Zimbabwe to partner with the IDC as it strives to actualize its aspiration of increasing the energy mix in the country.
In the agriculture sector, Mr Lwatula said Zambia has dedicated one million hectares to farm block development in all the ten provinces of the country. Added to that, IDC was looking for partners to operationalise core venture farms that it owns in the various farm blocks, with land spanning from 5, 000 to 10, 000 hectares of arable land.
In the mining sector, Mr Lwatula disclosed that IDC was looking at exploring different metals and minerals in the country. He said Zimbabwe which was endowed with lithium could leverage synergies with Zambia and DRC which have good deposits of critical minerals such as cobalt, which have attracted interest on the global market and thereby play a vital role in the energy value chain and energy transition.
The business forum organized by Zimbabwe Trade (Zim Trade), Zimbabwe Investment Development Agency (ZIDA) and Zambia Development Agency (ZDA) was officially opened by Honourable Prof. A Murwira – Minister of Foreign Affairs and International Trade, Zimbabwe. Honourable Chipoka Mulenga MP – Minister of Commerce Trade and Industry, gave the guest speaker address. Hon. Mulenga was accompanied by Honourable Makozo Chikote – Minister of Energy and other senior Zambian Government officials.
The event was being held on the sidelines of the inaugural Bi-National Commission between Zimbabwe and Zambia from 12 – 14 November. Over 120 companies from Zimbabwe and Zambia participated in the Forum.
