Zambia Development Agency

ZDA, ZPEC sign IPPA to secure the $500M Oil Refinery in Ndola: Deal to Boost Energy Security

The Zambia Development Agency (ZDA) and Zambia Petrochemical Energy Company Limited (ZPEC) have signed an Investment Promotion and Protection Agreement (IPPA) for the development and operation of a state-of-the-art oil refinery in Ndola valued at over US$500 million and expected to create more than 3,500 jobs.

ZPEC, a joint venture between Industrial Development Corporation (IDC) and Fujian Xiang Xin Holding Company Limited, will produce a range of petroleum products, including Jet A1, petrol, diesel, kerosene, LPG, sulphur, and other derivatives, significantly enhancing Zambia’s energy security and industrialisation agenda.

Speaking during the signing ceremony, ZDA Director General Albert Halwampa said the project would address Zambia’s petrochemical refining needs while driving economic growth through investment and job creation.

Mr. Halwampa noted that the refinery is strategically positioned to serve both the domestic market and the wider regional markets under SADC and COMESA, while generating critical foreign exchange inflows and supporting sectors such as transport and logistics.

He commended President Hakainde Hichilema for fostering a stable and investor-friendly environment that continues to attract major investments into Zambia.

“The investment landscape in Zambia is at its highest. We want to thank the Republican President, Mr Hakainde Hichilema, for providing leadership and promoting this country very effectively. It is the reason we are seeing huge projects like this one,” Mr Halwampa stated.

ZDA, ZPEC sign IPPA to secure the $500M Oil Refinery in Ndola: Deal to Boost Energy Security - Zambia Development Agency - ZDA Mr. Halwampa said the initial agreement between IDC and Fujian Xiang Xin Holding Company Limited was signed at the inaugural Invest Zambia International Conf...

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Zambia Records USD 1.69 Billion in Actualised Investments and 9,576 Jobs in Q1 2026

The Zambia Development Agency (ZDA) announced that the country recorded USD 1.69 billion in actualised investments during the first quarter (Q1) of 2026, representing solid progress toward the USD 2.4 billion target for the period.

ZDA Director General Albert Halwampa stated that this performance reflects sustained investor confidence in the leadership of President Hakainde Hichilema and the broader Zambian economy.

Mr. Halwampa noted that the reported figure is likely conservative, as the Agency was unable to obtain data from all targeted companies during the period under review.

He explained that the strong performance was largely driven by manufacturing and energy, which together accounted for over 70% of total investments, underscoring their strategic importance to Zambia’s economic transformation and industrialisation agenda.

The Director General said 9,576 jobs were actualised against a target of 28,050 during the quarter, with job creation largely driven by industrial and agriculture-related sectors.

“This distribution confirms the critical role of manufacturing and agro-based industries in employment creation,” said Mr. Halwampa.

He further highlighted that, on a cumulative basis, Zambia has recorded USD 16.4 billion in actualised investments and 109,488 jobs created from 2021 to Q1 2026, against total committed investments of USD 92.01 billion.

He attributed this performance to the focused and strategic leadership of President Hakainde Hichilema, who has actively positioned Zambia as a competitive destination for investment by promoting the country’s untapped opportunities globally.

“The positive investor response has resulted in both local and international investors continuing to invest and expand their operations in Zambia,” he said.

Mr. Halwampa emphasised that the Agency attributes the USD 16.4 billion in actualised investments recorded over the past four years to strong leadership, policy consistency, and improving macroeconomic stability.

He reaffirmed the ZDA’s commitment to broadening investment across all provinces, enhancing job creation, and driving inclusive and sustainable economic growth throughout the country.

ZDA Backs “Am Zambian” Luxury Runway Experience Celebrating Local Fashion

The Zambia Development Agency (ZDA) has pledged its support to the upcoming “Am Zambian” Luxury Runway Experience by TashFash Designs, scheduled for June 20, 2026.

Am Zambian aims to spotlight the richness of Zambian creativity across bridal, heritage, and everyday wear, positioning local talent at the forefront of defining the country’s unique fashion identity.

By bringing together creatives and fashion enthusiasts, the experience seeks to elevate local craftsmanship and encourage wider appreciation of Zambian-made fashion both locally and internationally.

ZDA Director General Albert Halwampa commended the initiative, emphasizing its alignment with the agency’s mission to promote local industries.

“ZDA is proud to support platforms such as the ‘Am Zambian’ Luxury Runway Experience, which celebrate our identity while creating meaningful opportunities for local designers. Initiatives like this not only showcase Zambia’s rich cultural heritage but also strengthen the creative economy, positioning our fashion industry as a competitive and export-ready sector.”

ZDA Backs “Am Zambian” Luxury Runway Experience Celebrating Local Fashion - Zambia Development Agency - ZDA ZDA Director General Albert Halwampa commended the initiative, emphasizing its alignment with the agency’s mission to promote local industries.

ZDA, Sunshare Energy Sign USD246 Million Solar Energy Deal

The Zambia Development Agency (ZDA) and Sunshare Energy Limited (SEL) have signed a USD246 million Investment Promotion and Protection Agreement (IPPA) for phase two of the Nambala Solar Power Plant in Mumbwa, with a combined capacity of 250MW.

This development follows phase one of the project, a 100MW solar plant valued at USD54 million, with an existing plant bringing total generation capacity to 350MW and overall investment to USD300 million.

ZDA Director General Albert Halwampa welcomed SEL’s continued investment, citing its alignment with President Hakainde Hichilema’s directive to scale up national power generation from 3,800MW to 10,000MW.

ZDA, Sunshare Energy Sign USD246 Million Solar Energy Deal - Zambia Development Agency - ZDA ZDA Director General Albert Halwampa welcomed SEL’s continued investment, citing its alignment with President Hakainde Hichilema’s directive to scale up nati...