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Zambia invites UAE and Gulf investors into five-year economic programme
President Hichilema targets mining, energy, agriculture, manufacturing and infrastructure under Grow Zambia Agenda following two-day UAE visit.
Zambian President Hakainde Hichilema issued an invitation to UAE and Gulf investors to join his government's five-year economic programme, which targets mining, energy, agriculture, manufacturing and infrastructure. The invitation came after Hichilema's two-day visit to the UAE at the invitation of President Sheikh Mohamed bin Zayed Al Nahyan, Khaleej Times reported on 7 October 2026. The programme carries the name Grow Zambia Agenda.
Mining and natural resources focus#
Hichilema stated that Zambia possesses copper, gold, cobalt and manganese, alongside land that has not been farmed and a population where half the people are under 18. He noted that Emirati firms are already examining mining, energy, farming and logistics opportunities. The President said the UAE has built over the past decade the industries it plans to rely on as oil becomes less central, including renewable power, electric vehicles, manufacturing and food security.
Trade agreement under negotiation#
The two governments have been negotiating a Comprehensive Economic Partnership Agreement, Hichilema said. He explained that such an agreement would allow Emirati business to reach more than half a billion people through the trade blocs Zambia participates in, while offering Zambian producers access to Gulf markets for finished goods. Hichilema stated that Zambia has the resources and has completed some but not all necessary reforms, while the UAE and Gulf has the capital and the appetite.
Investment memorandums signed#
Several memorandums of understanding covering $2.14 billion in investment intentions were signed during Hichilema's visit to the UAE, Khaleej Times reported. Cornwell Muleya, CEO of Industrial Development Corporation, the government-owned commercial investment and asset management institution of Zambia, visited Jebel Ali Port facilities in Dubai. Meritus Developments and ADG Advisory, both UAE-based entities, organised the visit.
Logistics hub positioning#
Zambia is positioning itself as a logistics and trade hub for Southern Africa. In early 2024, Abu Dhabi based International Resources Holding via one of its subsidiaries acquired assets in Zambia, according to the report. The visit to Jebel Ali Port provided an opportunity for the delegation to gain insight into the operations of the busiest maritime logistics hub in the Middle East.
Sources1 source across 1 domain
- khaleejtimes.comKhaleej TimesHichilema's invitation to UAE and Gulf investors, the five-year Grow Zambia Agenda, the two-day UAE visit, the $2.14 billion in memorandums of understanding, and the Comprehensive Economic Partnership Agreement under negotiation
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