Zambia Records US$250 Million in FDI in First Half

By Xinhua

December 24, 2023

Image source: educba.com

Zambia recorded about 250 million U.S. dollars in foreign direct investment (FDI) in the first half of this year, a survey released by the country’s central bank has said.

Denny Kalyalya, the governor of the Bank of Zambia, said the investment mainly reflects higher retained earnings and loans from affiliated entities in the mining sector, the major driver of FDI in the country.

“The recent positive trend in foreign direct investment aligns with feedback from survey respondents of improved investment climate and increased investor confidence in the domestic economy,” he said Friday during the release of results of the 2023 Survey of Foreign Private Investment and Investor Perception in Zambia.

The central bank chief said increased foreign direct investment flows were expected to boost exports, increase the supply of foreign exchange and help stabilize the exchange rate.