LUSAKA – Zambia has signed a landmark $19 billion investment partnership with Qatar’s Al Mansour Holdings, in what President Hakainde Hichilema described as one of the largest bilateral deals in the country’s history.
The agreement, inked on August 18 in Lusaka by Acting Foreign Minister Rodney Sikumba and Sheikh Mansour Bin Jabor Bin Jassim Al Thani, will see wide-ranging investments in finance, housing, agriculture, and infrastructure.
Key provisions include the creation of a national investment and development bank, reforms to Zambia’s financial sector, and the introduction of state-backed investment mechanisms.
The deal also outlines plans to build 1.5 million homes, roll out smart city solutions, and launch large-scale agricultural projects aimed at food security, irrigation, agro-processing, and export-driven value chains.
President Hichilema, who oversaw the signing, said the focus must now shift from paperwork to delivery.
“After numerous engagements between Zambia and Qatar, today we signed 11 MoUs worth $19bn in our priority sectors. Now we must move to implementation, and turn these documents into real meaningful opportunities for our people,” he wrote on X.
Beyond economics, the pact includes cooperation on peace, stability and sustainable development, reflecting what Hichilema called a “new stage” in Zambia-Qatar relations.
Trade between the two countries has been modest but volatile. According to the International Trade Center, bilateral trade peaked at $114.3 million in 2023 before plunging to $30.8 million in 2024. Lusaka hopes to use the partnership to position Qatar as both a gateway to Gulf markets and a source of long-term investment, while Doha sees Zambia as a strategic entry point into Africa, with rich potential in mining and agriculture.
A separate accord was also signed between Zambia’s state-owned Industrial Development Corporation (IDC) and Al Mansour Holdings, covering transport, mining, telecommunications and energy.
The post Zambia, Qatar seal landmark $19 billion investment deal appeared first on Zimbabwe News Now.