Today our Head Investment – Mining and Energy Mr Mulumba Lwatula participated as a panelist at the Zimbabwe – Zambia Business Forum, in Harare, speaking on “Investment opportunities between Zimbabwe and Zambia”

Noting that IDC has a vast investment pipeline, Mr Lwatula narrowed his discussion to investment opportunities in the energy, agriculture and mining sectors as having the greatest potential for economic enhancement for the two countries. In the renewable energy space, Mr Lwatula said the IDC has projects that are ripe for investment such as solar PV plants dotted around the country. He urged the business community in Zimbabwe to partner with the IDC as it strives to actualize its aspiration of increasing the energy mix in the country.

In the agriculture sector, Mr Lwatula said Zambia has dedicated one million hectares to farm block development in all the ten provinces of the country. Added to that, IDC was looking for partners to operationalise core venture farms that it owns in the various farm blocks, with land spanning from 5, 000 to 10, 000 hectares of arable land.

In the mining sector, Mr Lwatula disclosed that IDC was looking at exploring different metals and minerals in the country. He said Zimbabwe which was endowed with lithium could leverage synergies with Zambia and DRC which have good deposits of critical minerals such as cobalt, which have attracted interest on the global market and thereby play a vital role in the energy value chain and energy transition.

The business forum organized by Zimbabwe Trade (Zim Trade), Zimbabwe Investment Development Agency (ZIDA) and Zambia Development Agency (ZDA) was officially opened by Honourable Prof. A Murwira – Minister of Foreign Affairs and International Trade, Zimbabwe. Honourable Chipoka Mulenga MP – Minister of Commerce Trade and Industry, gave the guest speaker address. Hon. Mulenga was accompanied by Honourable Makozo Chikote – Minister of Energy and other senior Zambian Government officials.

The event was being held on the sidelines of the inaugural Bi-National Commission between Zimbabwe and Zambia from 12 – 14 November. Over 120 companies from Zimbabwe and Zambia participated in the Forum.

The establishment of the Bi-National Commission (BNC) between Zambia and Zimbabwe presents a unique opportunity to deepen economic integration, enhance industrial cooperation, and unlock shared prosperity. As one of Zambia’s largest state-owned investment groups, the Industrial Development Corporation (IDC) is strategically positioned to play a catalytic role in translating the BNC’s objectives into tangible economic outcomes for both economies. Through its subsidiaries, assets, and regional partnerships, the IDC can help foster industrial growth, facilitate cross-border investment, improve infrastructure connectivity, and strengthen energy security across the two countries.

One significant example of this cooperation is the entry of a Zimbabwean food processing company Glytime Foods, into the Lusaka South Multi-Facility Economic Zone (LS-MFEZ), an IDC subsidiary. By acquiring land, obtaining the requisite investment licences from the Zambia Development Agency, and committing to establish manufacturing operations in Zambia, this investment highlights the BNC’s ability to stimulate intra-regional industrialisation. The project will broaden Zambia’s agro-processing capacity, create local jobs, increase value addition, and expand access to regional markets.

Energy cooperation—one of the highest-impact areas is also poised for meaningful advancement. Zimbabwe’s planned expansion of wheeling capacity will allow more regional power imports to transit through its network. This creates efficiencies and strengthens regional power trade flows. Furthermore, the various joint ventures under development in the power sector will expand renewable energy deployment, reduce supply deficits, and enhance long-term energy security for both countries.

Regional logistics and transport cooperation present another area where IDC’s portfolio can deliver economic value. The National Railways of Zimbabwe (NRZ) and Zambia Railways Limited (ZRL), an IDC subsidiary, together provide critical trade linkages along the North–South Corridor. Strengthened collaboration in rail operations, infrastructure rehabilitation, and traffic flow management will lower the cost of doing business, improve the movement of goods between the ports in the south and the Copperbelt and DRC in the north, and enhance the competitiveness of both economies. Efficient rail transport will also reduce reliance on road freight, lowering transport costs and minimising environmental impact.

Through its partnerships with Zimbabwean investors, utilities, and transport agencies, IDC can help build a more integrated regional economy characterised by higher investment flows, improved production capacity, enhanced energy reliability, and strengthened trade routes. These interventions will not only stimulate growth in Zambia and Zimbabwe individually but will also contribute to the broader regional development objectives of SADC and COMESA.