Egypt Visit Secures Nearly $500m Investment Pledges

President Hichilema’s diplomatic mission yields major solar energy and infrastructure deals.

President Hakainde Hichilema's state visit to Egypt in February has delivered significant results, with private investors pledging close to $500 million for energy and infrastructure projects, the government announced.

Foreign Affairs Minister Mulambo Haimbe told parliament that the three-day visit from 23-25 February had been "fruitful, and Zambians can expect meaningful progress in agriculture, tourism, infrastructure, and energy" according to President Hichilema's assessment.

The centrepiece of the investment package involves the construction of 200-megawatt solar plants in Kafue and Mongu, with operations expected to begin by 2026. The projects are part of a broader strategy to transition toward sustainable, low-carbon energy sources as the copper-rich nation seeks to diversify its power generation.

The visit has strengthened the existing partnership between the power utility Zesco and Egyptian firm Elsewedy Electric. The collaboration will now extend to local manufacturing of electrical equipment including transformers and prepaid meters, with priority given to Zambian small and medium enterprises as subcontractors.

Over 40 Zambian companies participated in the Egypt-Zambia Business Forum held alongside the presidential visit, creating new trade opportunities between the two nations.

Beyond energy, the partnership encompasses significant healthcare initiatives. Egypt has agreed to provide affordable pharmaceutical drugs and support the local production of vaccines for livestock diseases including Foot-and-Mouth Disease, Contagious Bovine Pleuropneumonia, and Anthrax.

Joint research programmes are set to commence in early 2026, bolstering the nation’s veterinary sector and improving livestock health and productivity.

The agricultural sector will benefit from Egyptian expertise in biotechnology, irrigation technologies, and climate-resilient farming practices. The Egyptian International Centre for Agriculture will provide training and scholarships to 50 agricultural professionals over the next three years.

President Hichilema and Egyptian President El-Sisi discussed investment opportunities in the vital "Lobito Corridor" project, a key transportation route linking Zambia to Atlantic ports. This infrastructure development aims to enhance regional trade connectivity and attract further Egyptian investment.

The leaders witnessed the signing of over five Memoranda of Understanding covering political cooperation, food security, and agriculture, cementing what both nations view as a strategic partnership for mutual economic development.