CALL FOR APPLICATIONS FOR APPOINTMENTS AS NON-EXECUTIVE REPRESENTATIVE DIRECTORS TO THE BOARD OF DIRECTORS FOR SUBSIDIARIES AND INVESTEES OF THE INDUSTRIAL DEVELOPMENT CORPORATION

The Industrial Development Corporation Limited (“IDC” or “Corporation”) is a State-Owned Enterprise (SOE) owned by the Minister of Finance pursuant to the Minister of Finance (Incorporation) Act Cap 349 of the Laws of Zambia. Currently the IDC has interest in 36 companies comprising subsidiaries and investees across 12 sectors including Agriculture, Mining, Manufacturing, Telecommunications, Energy, Financial, Transport and Logistics, Tourism and Hospitality, Health, Infrastructure, Media and Real Estate.

IDC’s mandate is to maximize long-term shareholder value through active and strategic ownership and oversight of its portfolio, while serving as a key catalyst for Zambia’s industrialization, economic diversification and rural development.

Through its Strategic Transformative Agenda to 2033, IDC is focused on building a commercially sustainable, competitive and value-creating portfolio that drives investment, domestic value addition, employment, exports, import substitution and sustainable economic transformation across Zambia.

Invitation for Applications

IDC invites applications from suitably qualified, experienced and accomplished Zambian and non-Zambian professionals for consideration for appointment as Non-Executive Representative Directors on the Boards of Directors of its subsidiaries and investee companies.

Purpose of the Call

This call seeks to establish a pool of suitably qualified professionals for appointment as directors on the Boards of its subsidiaries and investee companies.

Directors will provide strategic oversight, independent judgement and technical expertise to strengthen governance, enhance performance and drive value creation in support of IDC’s Strategic Transformative Agenda to 2033.

Areas of Expertise

IDC is seeking accomplished professionals who can bring fresh insight, sound judgement and practical sector experience to help shape the performance and long-term value of its portfolio companies. Applicants with proven expertise in one or more of the following areas are strongly encouraged to apply:

• Providing effective corporate governance, ethical leadership and Board-level oversight;
• Strengthening prudent finance, accounting, audit and risk management practices;
• Guiding strategic investment decisions and portfolio performance improvement;
• Driving transformative strategy, business turnaround and organisational growth;
• Building entrepreneurial enterprises and scaling high-impact businesses;
• Deepening sound banking, financial services and insurance expertise;
• Advancing resilient infrastructure, transport and logistics solutions;
• Promoting sustainable energy, utilities and resource-efficient development;
• Expanding dynamic tourism, hospitality and real estate opportunities;
• Accelerating productive manufacturing and industrial development;
• Championing responsible mining and natural resources management;
• Harnessing innovative information and communications technology;
• Growing productive agriculture, agro-processing and value-chain development;
• Safeguarding robust legal, regulatory and compliance frameworks;
• Developing progressive human capital and organizational capability;
• Unlocking commercial growth through marketing, business development and market expansion;
• Applying technical engineering and specialist technical services expertise.

Candidates who can combine sector expertise with commercial discipline, financial insight, strategic judgement and a clear commitment to value creation will be particularly well placed to contribute meaningfully to IDC’s Boards performance,

Required Minimum Qualifications

Applicants should demonstrate the following minimum qualifications, relevant experience and desirable skills:

• Be a Zambian or non-Zambian professional with credible experience, relevant specialized expertise and a strong record of achievement.
• Hold a Bachelor’s degree from a recognised university or an equivalent professional qualification from a reputable body in a discipline relevant to IDC’s sectors of operation.
• Exceptional entrepreneurs, business founders and accomplished professionals without a formal degree or professional qualification may also be considered where they can demonstrate a sustained record of establishing, managing and growing successful businesses, creating employment, mobilizing investment, entering new markets or delivering significant commercial and economic impact.

Required Work experience

Candidates should be able to demonstrate:

• At least ten (10) years’ relevant business, professional or management experience, including substantial exposure at senior management, executive or equivalent leadership level. Experience in IDC Group sectors and international work experience will be an added advantage.
• Relevant Board experience, whether as a current or former Board member, committee member, trustee or equivalent governance leader.
• Demonstrable experience in sectors, industries or areas of expertise that can strengthen Board deliberations and support sound decision-making.
• The ability to read, analyse and interpret financial statements, business performance reports and investment information.
• Experience in strategic planning, business leadership, organisational transformation and change management.
• Sufficient knowledge and experience to understand the legal, fiduciary and governance responsibilities of a Non-Executive Director of a company operating in Zambia, including the requirements of the Companies Act of 2017, as amended, and the State-owned Enterprises Act of 2026.
• A track record of contributing to investment decision-making, risk management, corporate performance improvement and sustainable value creation will be an added advantage.

Desirable Skills and Competencies

The following skills and attributes will further strengthen an application and are particularly valued for effective Board contribution and will be considered advantageous:

• Subject-matter expertise in a sector relevant to IDC’s subsidiaries and investee companies.
• Strong commercial, financial and strategic acumen, with the ability to assess business performance and contribute meaningfully to Board-level decision-making.
• The confidence and independence to provide constructive challenge, balanced judgement and practical guidance to management.
• A strong understanding of corporate governance, risk management, regulatory compliance and ethical leadership.
• No material relationship and/or conflict of interest with IDC or any of its subsidiaries or investee companies.
• Membership of a relevant professional body and/or the Institute of Directors will be an added advantage.
• Digital literacy, including the ability to use online communication, collaboration and ICT platforms effectively.
• High levels of integrity, sound ethical judgement and a clear commitment to good corporate governance.
• The ability to analyse complex information, ask relevant questions and contribute constructively to Board deliberations.
• Cross-sectoral experience and a demonstrated understanding of commercial, financial and strategic matters will be particularly encouraged.

Suitably qualified women candidates are urged to apply in an effort to improve representation of women on the Boards.

Detailed Duties and Responsibilities of Representative Directors

• Provide oversight to the Subsidiaries and transform them to efficiency and sustainable profitability to ensure the shareholder receives a return on its investment.
• Provide proper financial oversight: scrutinising and approving budgets and ensure effective internal controls are in place.
• Contribute to development of each subsidiary’ Strategic Plans, ensuring that its goals and objectives align with IDC’s Mandate, and monitor implementation by management.
• Recruitment, Supervision, and evaluation of the Chief Executive Officer in line with the governance documents.
• Ensure the organization has adequate resources by carefully allocating resources in the best interest of the organisation and stakeholders and sustainable growth of the enterprise.
• Ensure ethical behaviour and compliance with all legal and regulatory requirements of the Subsidiary.
• Contribute to strict adherence to the highest standards of Corporate Governance tenets.
• Ensure Congruence of Enterprise Strategic intent of the shareholder.
• Ensure the annual Performance Management Contracts are signed between the Board and Management, and annual set targets are met.

How to apply

Interested and suitably qualified energetic individuals should send their online application letter, updated curriculum vitae, copies of academic and professional qualifications and a copy of their National Registration Card (NRC) by following the step-by-step procedure provided on the link Complete the online application form

Closing date for submission of applications is Friday, 2nd October 2026. Please note that applications in hard copy will not be received. Any form of canvassing or lobbying will lead to the disqualification of the individual.