Zambia Offers 10-Year Tax Holiday to Attract Foreign Investors

Zambia is rolling out the welcome mat for foreign investors, offering a 10-year tax holiday to companies establishing operations in its multi-facility economic zones.

Speaking at the Finland Business Forum in Lusaka, Zambia Development Agency (ZDA) Director General Albert Halwampa set out the country's investment priorities: mining, energy, and beyond. He stressed that attracting capital into the mining sector is non-negotiable if Zambia is to hit its ambitious target of producing three million metric tonnes of copper by 2031 — a goal that sits at the heart of the country's economic transformation agenda.

Halwampa was equally emphatic on energy, warning that the power deficit triggered by the 2024 drought demands urgent and substantial investment. Without it, the broader growth story risks stalling before it gains momentum.

The forum drew a strong response from the Zambian private sector. Emmanuel Mumba, Acting Chief Executive Officer of the Zambia Chambers of Commerce and Industry, added his voice to the call, encouraging Finnish businesses to explore the concrete opportunities available in both mining and energy — sectors where Zambia's potential remains largely untapped.

From the Finnish side, Matti Terva, Senior Specialist at Finland's Global Gate Financing, reaffirmed his institution's readiness to help channel capital into Zambian projects, signalling that appetite for engagement is growing in both directions.

The forum underscored a broader message: Zambia is open for business, and the policy frameworks to back that claim are firmly in place.