Covid-19: ZDA records reduced annual investment pledges

Wilson Mulinda-The Zambia Development Agency -ZDA- says it recorded 76.6 percent annual work deliverables in the year 2020.

This represents a reduction of 3.8 percent compared to 2019, when it recorded 80.4 percent.

ZDA Board Chairperson DAVID MASUPA says there was also a 5.8-billion-dollar projected investment in 2020 against over 300 projects.

Bishop MASUPA told Journalists during a media briefing that the manufacturing sector was the highest sector with an investment of 1.2 billion dollars, representing 24.7 percent.

He said COVID-19 disrupted trade and export flows globally and domestically.

Bishop MASUPA said the economy has been negatively affected by the pandemic despite having an increase in job creation compared to 2019.

He said investment in Zambia is likely to increase looking at the rate at which Government, with support from stakeholders is trying to stabilise the economy.