Zambia’s 2016 investment pledges up marginally to $3.4 billion

LUSAKA (Capital Markets in Africa) – Zambia recorded $3.4 billion in investment pledges in different sectors of the economy in 2016, representing a 0.7 percent increase from the previous year, the investment promotion agency said on Wednesday.

The energy sector registered the highest amount of pledged investment, followed by manufacturing and agriculture, the Zambia Development Agency said in a statement.

It said investment rose despite a general election last year, showing confidence in Zambia was not eroded, and forecast a further rise this year, especially in the energy sector.

Zambia’s electoral commission suspended campaigning in some areas, including the capital Lusaka, due to sporadic violence.

The southern African nation is struggling to maintain power supplies as a severe drought has caused levels to drop in the Kariba Dam which generates much of the nation’s electricity.

Source: Reuters Africa News