Lusaka – Friday, 14th February 2025 – The 3rd Private Sector Day, held on 12th December 2024, marked a significant milestone in Zambia’s economic transformation. During this event, His Excellency, the President of the Republic of Zambia, issued key directives to strengthen climate resilience, smart agriculture, capital markets, energy security, and accelerate business-friendly reforms. These directives are aimed at fostering sustainable economic growth, increasing private sector participation, and driving job creation.
In the area of climate resilience and smart agriculture, the government is committed to scaling up investments in climate-smart agricultural technologies to enhance food security and sustainability. Strengthened partnerships between the government, private sector, and international stakeholders will improve climate adaptation measures for farmers, while new incentives will encourage private sector investments in irrigation systems, resilient seed varieties, and carbon-smart farming practices.
On capital markets development, the government will accelerate the modernization of capital markets to facilitate long-term financing for businesses and infrastructure projects. The participation of the private sector in green bonds, SME financing, and stock market investments will be enhanced to support economic expansion. Furthermore, regulatory reforms will be fast-tracked to create a more transparent, accessible, and efficient financial market for both local and foreign investors.
The energy sector remains a priority, with plans to expand renewable energy projects and public-private partnerships (PPPs) in energy generation and distribution. The government will strengthen incentives for private investments in solar, hydro, and wind energy projects to diversify Zambia’s energy mix. Additionally, energy security will be reinforced through infrastructure modernization and regional power trade agreements to address supply gaps.
To create a conducive business environment, the government will streamline bureaucratic processes to improve the ease of doing business and attract both local and international investors. A one-stop digital platform will be introduced for business registration, licensing, and compliance procedures. Regulatory bottlenecks in priority sectors will also be addressed to fast-track approvals and investment facilitation.
His Excellency reaffirmed his administration’s commitment to private sector-led economic growth, emphasizing the crucial role of public-private partnerships (PPPs) in achieving Zambia’s long-term economic aspirations. He encouraged industry leaders to actively participate in shaping policies that drive innovation, job creation, and inclusive economic development.
The Public-Private Dialogue Forum (PPDF), established in April 2022, continues to serve as a bridge between the government and private sector, fostering collaboration in policy-making, addressing business challenges, and driving economic growth. Through its Technical Working Groups (TWGs), Zambia is positioning itself as a regional economic hub, with public private collaboration playing a central role in investment promotion, job creation, and policy efficiency. Notably, the government has adopted and reviewed 98 policy proposals, reinforcing PPDF’s role as a credible and effective policy engagement mechanism.
During his address, the President reaffirmed his administration’s commitment to empowering youth through private sector growth, entrepreneurship, and skills development, making youth employment a national priority.
Furthermore, the Medium-Term Expenditure Framework (MTEF) outlines the President’s vision for a resilient, inclusive, and sustainable economy. With a strong focus on economic diversification, fiscal responsibility, infrastructure development, and human capital investment, Zambia is poised for robust economic growth and long-term prosperity. The private sector, cooperating partners, and citizens are encouraged to align their strategies with these national priorities to collectively drive Zambia’s transformation.
Looking ahead, Zambia’s 2025 economic outlook remains optimistic, driven by ongoing reforms to enhance the ease of doing business, increased public-private partnerships to unlock investment opportunities, and a strategic focus on industrialization, digital transformation, and climate-smart solutions.
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