Government says it recognises the invaluable contributions of the Zambian diaspora community to national development.
Minister of Foreign Affairs and International Cooperation, Mulambo Haimbe, has acknowledged various stakeholders who have contributed to Zambia’s economic growth through diaspora engagements.
Mr Haimbe notes that the diaspora plays a pivotal role in driving investments, transferring knowledge, fostering entrepreneurship and sparking innovation, each of which contributes significantly to national development.
The Minister was speaking today when he graced the official opening of the two day 2025 International Business Exchange (IBEX) Hybrid Conference, held under the theme “Redefining Diaspora: Connecting Businesses and Unlocking Zambia’s Economic Potential.”
Mr Haimbe pointed out that globally, diaspora remittances have become an essential source of foreign exchange, often surpassing Foreign Direct Investment (FDI), in many developing countries.
“According to the World Bank, remittances to sub-Saharan Africa reached US$54 Billion in 2023, with Zambia receiving an estimated US$350 Million annually from its diaspora,” added Mr Haimbe.
He explained that the Zambian diaspora is not only a crucial economic lifeline but also a driver of long-term sustainability development.
Mr Haimbe added that in recognising this, the government in 2019 launched the Diaspora Policy which aims to foster the integration of the Zambian diaspora into the country’s development by creating a conducive environment for their active participation.
Mr Haimbe urged participants to focus on facilitating diaspora investment, empowering Small Medium Enterprises (SMEs) for economic growth and promoting youth and women entrepreneurship.
Meanwhile, President of the Zambia Diaspora Chamber of Commerce (ZDCC), Freud Musanu, said ZDCC sees a Zambia that thrives on strategic partnerships, foreign investments and the vast expertise of Zambians abroad.
“ZDCC has committed to facilitating US$1 billion in investments by 2030, through engaging leading global consultants to develop a strategic roadmap. We stand ready to partner with the government, private sector and global stakeholders to make this a reality,” added Mr Musanu.
