Earlier today, the Industrial Development Corporation (IDC) hosted an Open Day for its key stakeholders, aimed at providing comprehensive insights into the Corporation’s strategic direction, operational framework, and long-term growth plans.
The event attracted a distinguished audience comprising Government officials, members of the diplomatic corps, representatives from Development Finance Institutions (DFIs), captains of industry, Non-Governmental Organisations (NGOs), Private sector and various business associations, among others.
In his address, IDC CEO Mr. Cornwell Muleya called for stronger stakeholder relations built on transparency and open dialogue.
“We want you to be fully informed about our vision, the investment opportunities we are pursuing, and the broader economic impact of our initiatives,” he said.
IDC remains a cornerstone of Zambia’s economy, managing a diverse portfolio of enterprises whose combined revenues constitute about 5% of the nation’s Gross Domestic Product (GDP).
As the second-largest employer in the country after the Central Government, the IDC Group employs over 20,000 people across subsidiaries operating in 12 sectors.
During the Open Day, IDC management presented key components of its Transformation Strategic Plan 2024–2033, including portfolio turnaround strategies, an investment pipeline, and innovative funding models designed to drive sustainable growth.
Outlining the Corporation’s ambitions, Mr. Muleya disclosed that IDC plans to evolve into a Wealth Fund capable of generating over ZMW 200 billion in annual revenue, leveraging new and innovative financing mechanisms.
“We are developing a US$1 billion project pipeline and targeting the commissioning of 24 new projects by 2033, which we expect will create over 40,000 direct jobs for Zambians,” he revealed.
Mr. Muleya also reaffirmed IDC’s commitment to restructuring and capitalizing its subsidiaries to enhance operational efficiency and profitability, with a goal of achieving ZMW 7 billion in cumulative dividend income by 2033.
