The Impact Capital Africa (ICA) 2024 summit commenced at Ciela Resort in Chongwe District, Lusaka Province, on Tuesday, aiming to bridge the gap between investors and SMEs across Sub-Saharan Africa. First held in Zambia in 2018, the event has since attracted more players into the impact investment and development sector in the country.
President Hakainde Hichilema addressed stakeholders and participants, highlighting Zambia’s growing reputation as a robust investment destination. He noted the increased investor confidence evidenced by rising Foreign Direct Investments (FDIs) and a growing Gross Domestic Product (GDP) despite recent economic challenges like drought.
“Zambia is committed to improving the standard of living for all its citizens. To achieve this, we need the support of entrepreneurs and investors, both local and international,” stated President Hichilema. He assured government’s commitment to sustainable development and emphasized the need for more investments, joint ventures, and value addition.
The President highlighted Zambia’s efforts to enhance infrastructure, including roads and railways, as well as technology and market access initiatives, positioning the country as a leading investment hub in the region.
Meanwhile, Special Assistant to the President, Mr. Jito Kayumba, emphasized the importance of a conducive environment for capital investment. “Capital is key but requires a supportive environment, which is often lacking. We are grateful for institutions like Prospero that offer alternative financing and business capacity building,” he said.
Speaking at the same event, Prospero CEO, Ms. Mutumboi Mundia, expressed enthusiasm about the summit, noting the participation of over 300 esteemed investors, entrepreneurs, development agencies, corporates, business service providers, and policymakers. “This forum provides a unique opportunity to foster meaningful connections and collaborate on innovative solutions to enhance capital investment in Zambia,” she stated.
Ms. Mundia participated in the opening panel discussion themed “Zambia Update for 2024” alongside Mr. Jito Kayumba, Rudolph Patel from Inside Capital, and Kam Shah from Unity Group.
The Impact Capital Africa summit continues to play a crucial role in driving investment and fostering development in Zambia, underscoring the country’s potential as a prime investment destination in Sub-Saharan Africa.
