Zambia is a landlocked country in Sub-Saharan Africa, surrounded by countries in Eastern, Central, and Southern Africa. It is considered one of the safest countries to visit and invest in within Africa. In the recent past, the Zambian government has opened up the market for privatization and foreign investment. As a result, more investors are beginning to investigate prospects for investment here. Coming up is a list of the top 8 industries to invest in Zambia in 2021-2022.
First, however, consider the following reasons why investing in Zambia is a worthwhile venture.
- There is market access for local and international investors.
- The government has taken measures to make the environment more investor-friendly.
- Resources and opportunities are readily available for the investor.
Here are the top 8 industries to invest in Zambia in 2021-2022.
8. Health
- Investment opportunities exist in the areas of human resources, diagnostic services, clinical care, service delivery interventions, etc., especially in the rural areas.
- There is also a rising demand for locally available facilities for major surgery cases.
7. Construction
- The construction industry is experiencing growth due to the demand for commercial, residential, and public infrastructure construction projects all over the country.
- In addition, the entry of cement manufacturing companies has greatly supported the increased demand in the construction industry.
6. Tourism
- The tourism industry in Zambia is currently growing at an average rate of 4%, due to the establishment of hotels and resorts in major towns around the country.
- This country boasts several tourist attractions, including more than 20 waterfalls and a variety of wildlife located in different areas.
- Investment opportunities are available in form of the establishment of hotels and resorts and private wildlife estates. Investors are also encouraged to explore the largely untapped Northern parts of the country.
5. Information and Communication Technology (ICT)
- The ICT industry is another of the top 8 industries to invest in Zambia in 2021-2022.
- The Zambian government is working hard to make sure that its people have access to public ICT services, that there is a suitable telecom infrastructure, and to introduce e-commerce and e-government.
- Investment opportunities in this industry include the provision of internet in rural areas, installation of fiber optic networks, etc.
4. Energy
- The demand for electricity in Zambia has currently outstripped supply, due to insufficient power generation capacity. The country however has the potential to produce up to 10,000 MW of power.
- Investment opportunities exist in the areas of supplying electricity to unserved rural areas, and construction of mini-hydropower plants all over the country.
3. Agriculture
- Zambia has an arable land resource of 42 million hectares, but only 1.5 million hectares are currently in use. The government is currently encouraging the growth of non-traditional crops like coffee, sugarcane, cotton, pineapple, and cashewnuts.
- Among the incentives introduced to attract investors in this area include the opening of new farming blocks in order to have both local and international investors use the land for agro-business purposes.
2. Manufacturing
- Zambia’s manufacturing industry in Zambia contributes about 11% to its GDP.
- The subsectors within this industry include processed foods, leather and leather products, pharmaceuticals, processing of mineral products, textiles and garments, and wood and wood products.
- Within the manufacturing industry, the food, beverages, and tobacco sectors, as well as cement production, present opportunities for high returns on investment.
1. Mining
- Zambia has the 2nd largest deposits of the world’s best emeralds, and other precious stones like amethysts, aquamarines, gold, and diamonds.
- Also, Zambia has 6% of the world’s copper reserves, as well as marble, ferrous metals, clay, granite, phosphate, and iron.
- These mineral and precious stone deposits present a good opportunity for investors, as these deposits are largely underexploited.
With the information above on the top 8 industries to invest in Zambia in 2021-2022, investors are better placed in deciding on where to put their money!