The African Development Bank (AfDB) has reaffirmed its commitment to supporting Zambia’s private sector growth during a strategic side event at the inaugural Invest in Zambia International Conference (IZIC). The session, titled “Catalyzing Private Sector Growth: Unlocking AfDB’s Financing Toolkit in Zambia,” brought together private companies, financial institutions, and government representatives to discuss new opportunities.
Raubil Olaniyi Durowoju, the Bank’s Country Manager for Zambia, opened the event by emphasizing the Bank’s increased focus on private sector operations. “Across the Bank, from the President’s office to every Regional and Country Strategy, there is a deliberate shift toward private sector development as the engine for economic transformation,” he stated. He added that the Bank’s Zambia Country Strategy Paper (2024–2029) aligns with the government’s Eighth National Development Plan to boost the private sector through investments in infrastructure and agricultural value chains.
Unlocking Financing and Opportunities
Experts from various AfDB departments presented a comprehensive overview of the Bank’s financial instruments and priorities. The Financial Solutions Department highlighted the availability of non-sovereign instruments, including loans, equity participation, trade finance, guarantees, and blended finance options. Specialists from the Agriculture and Transport Infrastructure Industry departments also outlined their priorities, highlighting areas for private sector engagement.
A Look Toward the Future
Bleming Nekati, the Bank’s Regional Head for Private Sector Operations in Southern Africa, concluded the event with a forward-looking statement: “We are now well on our way to building a strong, diversified, and impactful pipeline of private sector operations in Zambia for delivery over the next 12 months and beyond.” He also stated, “This is a defining moment for Zambia and the Bank as we accelerate private sector growth to unlock new opportunities, drive innovation, and build a more prosperous and inclusive future.” The session ended with a Q&A segment that allowed participants to directly address sector-specific challenges with the Bank’s experts.
In addition to the conference event, the AfDB team held one-on-one meetings with several companies and financial institutions to further explore collaborative opportunities and advance development. These engagements underscored the Bank’s dedication to partnering with Zambia’s private sector for inclusive and transformative growth.
