Zambia’s FDI rebounded to $1.24B in 2024 after sharp decline in 2022, attracted over $22B since 1990

Key Takeaways

  • Zambia recorded its highest-ever FDI inflow in 2013 at $2.10 billion.
  • After dipping to a negative inflow of -$0.07 billion in 2022, Zambia recovered to $1.24 billion in 2024.
  • The country experienced its first billion-dollar inflow in 2007, marking a turning point in foreign investment.
  • FDI inflow was consistently below $0.5 billion throughout the 1990s, indicating limited investor confidence during that period.

From modest beginnings in the early 1990s, Zambia’s foreign direct investment (FDI) journey has evolved through significant highs and lows. With inflows hovering below $0.5 billion for more than a decade, the country's FDI trajectory only began to shift in the mid-2000s. The year 2007 marked a major breakthrough with $1.32 billion in inflows, Zambia’s first billion-dollar year. This momentum continued into the 2010s, peaking at $2.10 billion in 2013, reflecting strong investor interest likely tied to mining and infrastructure sectors.

However, the country’s FDI environment has been volatile. A sharp plunge in 2022 saw inflows fall to a negative figure, the lowest in the data set, signalling divestment or disinvestment. Encouragingly, Zambia staged a comeback in 2024 with a $1.24 billion inflow, suggesting renewed investor confidence. In total, Zambia has attracted about $22.64 billion in FDI between 1990 and 2024, illustrating a long-term but uneven growth in foreign investment.

Source:

UNCTAD

Period:

1990 - 2024
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Europe, Asia, and the Americas have attracted a combined 94% of global foreign investment since 1990, leaving Africa and Oceania with just 6%
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