By Derrick Silimina

The Zambia Development Agency (ZDA) has signed an Investment Promotion and Protection Agreement (IPPA) with Mansa Sugar Limited, in line with its mandate to promote and facilitate investment in Zambia.

In a statement, the agreement supports Mansa Sugar Limited’s planned US$100 million investment in the expansion of its integrated sugarcane plantation and manufacturing operations in Chembe District, Luapula Province.

“The IPPA is a strong assurance to investors that Zambia remains a safe and attractive destination for long-term investment. It provides confidence that investments will be protected, while enabling businesses to grow and create opportunities for Zambians,” ZDA Director General Albert Halwampa said during the signing ceremony.

Halwampa highlighted that the investment is expected to create 1,800 direct jobs and 1,200 indirect jobs, significantly contributing to economic growth and improved livelihoods in the region.

He noted that the expansion project will increase the company’s processing capacity from 1,900 tonnes of cane per day to 3,500 tonnes per day, thereby strengthening Zambia’s agro-industrial sector and enhancing the country’s sugar production capacity.

“The IPPA is a special non-fiscal incentive offered to qualifying investments exceeding $10 million. It serves as a guarantee of the Government’s support for strategic investments that drive industrialisation, job creation, and economic transformation,” Halwampa stated.

He emphasised that the high level of investor confidence in the country, supported by single-digit inflation and a stable exchange rate, is because of the focused leadership of President Hakainde Hichilema.

“The Government’s successful debt restructuring has reduced the country’s risk profile, making it easier for investors to access affordable credit from around the globe hence ZDA’s commitment to facilitate investment for both local and foreign investors.”

Speaking at the same event, Mansa Sugar Board Chairman Mahul Shah welcomed the agreement and expressed appreciation to the Government of Zambia and ZDA for their continued support throughout the company’s growth journey.

“Over the past decade, Mansa Sugar has grown from humble beginnings into a major employer and economic driver in Chembe District. We are proud that our operations now support approximately 3,000 jobs and have contributed to transforming the area into a vibrant economic hub,” Shah said.