The deputy president of Zambia revealed that $5 billion in Indian investment is planned for Zambia, with particular focus on infrastructure development, agriculture, and the health sector.
On the sidelines of the Exim Bank India-Africa Growth Partnership Conclave, Mutale Nalumango spoke with reporters in the Indian capital New Delhi and stated: "Over $3 billion of investment by Indian enterprises have been registered in Zambia in the recent past, with more than $5 billion already in the pipeline."
Nalumango guaranteed investors that their assets would be secure in the southern African country, which is the second-largest copper producer on the continent.
The two nations have had long-standing bilateral relations, and in 2018, Indian President Ram Nath Kovind paid a state visit to China.
In the Zambian capital Lusaka, Kovind dedicated a $289 million road decongestion project during his visit.
Stakes in the mining and health sectors are among the additional Indian investments coming to the nation.
Additionally, Nalumango met privately with Venkaiah Naidu, her Indian colleague, to discuss ways to improve bilateral ties between the two nations.
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