Zambia Development Agency (ZDA) has called for the establishment of a comprehensive investment due diligence framework to strengthen responsible investment and improve coordination among government institutions.
ZDA Director General, Albert Halwampa, made the call during a panel discussion on Sustainability Initiatives and Due Diligence at the 50th Anniversary of the Organization for Economic Co-operation and Development (OECD) Global Forum on Responsible Business Conduct in Paris.
Mr. Halwampa said Zambia already has robust due diligence measures, including investor screening, verification of funding sources, Environmental, Social and Governance compliance, and post-investment monitoring, particularly in the mining sector, to ensure investors comply with environmental requirements and responsible business practices.
He, however, noted that these requirements are fragmented across different institutions.
“Zambia needs a unified due diligence framework aligned with international best practices to enhance transparency and support responsible investment,” he said.
Mr. Halwampa also outlined Zambia’s investment safeguards, including measures to combat corruption, monitoring of investment incentives, and implementation of the local content policy requiring at least 20 percent local participation to ensure investments benefit local communities.
The discussion explored how businesses and regulators can apply a risk-based approach to due diligence, alongside challenges in compliance, enforcement and policy coordination.
Meanwhile, OECD will undertake a Responsible Business Conduct initiative across Sub-Saharan Africa and agreed with ZDA to position Zambia as a key focus.
According to a statement issued by First Secretary Press at the Zambia Embassy in Paris, Naomi Mweemba, the initiative aims to promote responsible investment, strengthen due diligence across global supply chains, and support inclusive and sustainable economic growth.
