market intelligence Key economic indicators…
Real GDP recovered to 4.6% growth in 2021 and 3.0% in 2022 after contracting 2.8% in 2020. The recovery was driven mainly by wholesale and retail trade, agriculture, and mining and quarrying. Inflation dropped from 22.1% in 2021 to 10.1% in 2022, driven mainly by the reduced food price shocks. The policy rate was maintained at 9.0% in 2021 and 2022, owing to inflationary pressures, weaker medium-term growth prospects, and vulnerabilities and risks to the financial sector. Source: Worldbank.org
• Twin-Palm Mixed-Use Real Estate Development: A 32-hectare project near Lusaka’s Central Business District, combining commercial, business, residential, tourism, and leisure facilities.
Transport Sector Infrastructure
• Solwezi–Kipushi Road Project: Upgrading the Solwezi– Kipushi road to bitumen standard in North-Western Province, including toll gates. • Mansa Airport Project: The development of Mansa Airport into an international gateway to exploit tourism potential in the Northern part of the country.
Energy Sector Innovations
• Kapamba Hydro Power Station: A 12MW hydropower plant project executed by ZESCO through an EPC contract.
Construction Sector Advancements
• Redevelopment of Zambia International Trade Fair Grounds and Mukuba Hotel: A project aimed at creating a world-class conferencing and exhibition facility and expanding Mukuba Hotel into a five-star facility. • Lusaka South Multi-Facility Economic Zone: A 2,100-hectare economic zone in Lusaka, seeking partners for financing, development, and management.
• Luapula River Hydro Power Scheme: A massive project spanning seven different sites on the Luapula River, with the potential to generate 800–1,200 MW of power.
Mining Sector Advancements
Copper City Industrial Park/Multi-Facility Economic Zone: A project focused on value addition to copper and other mining-related activities in Kabwe District, Central Province.
ICT Sector Developments
Computer Assembly Plant: A joint venture led by the Zambia Information and Communication Technology Authority to establish a computer assembly plant supplying schools in Zambia and the region. As Zambia continues its journey of economic diversification and sustainable growth, these projects underscore the nation’s commitment to harnessing its abundant resources and creating a thriving environment for local and international businesses alike. The unfolding narrative of Zambia is one of opportunity, innovation, and inclusive development.
Issue 3 – 2023
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