Zambia Development Agency (ZDA) has signed a US$100 million Investment Promotion and Protection Agreement (IPPA) with Mansa Sugar Limited, in line with its mandate to promote and facilitate investment in Zambia.
The agreement supports Mansa Sugar Limited’s planned investment in the expansion of its integrated sugarcane plantation and manufacturing operations in Chembe District, Luapula Province.
According to ZDA, 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 investment is also expected to create 1,800 direct jobs and 1,200 indirect jobs, significantly contributing to economic growth and improved livelihoods in the region.
Speaking during the signing ceremony in Lusaka, ZDA Director General Albert Halwampa said the IPPA demonstrates Government’s unwavering commitment to protecting investments and promoting sustainable economic development.
“The IPPA is a strong assurance to investors that Zambia remains a safe and attractive destination for long-term investment,” Mr. Halwampa said. “It provides confidence that investments will be protected, while enabling businesses to grow and create opportunities for Zambians.”
Mr. Halwampa noted that the IPPA is a special non-fiscal incentive offered to qualifying investments exceeding US$10 million.
“It serves as a guarantee of the Government’s support for strategic investments that drive industrialization, job creation, and economic transformation,” he noted.
He added that 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.
Mr. Halwampa reaffirmed ZDA’s commitment to facilitating investment for both local and foreign investors.
Meanwhile, Mansa Sugar Board Chairman Mahul Shah hailed the agreement and expressed appreciation to the Government 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 Distric,” he said.
“We are proud that our operations now support approximately 3,000 jobs and have contributed to transforming the area into a vibrant economic hub.”
Mr. Shah added that the IPPA will provide greater certainty for future expansion and further investment in the business, enabling Mansa Sugar to deepen its contribution to Zambia’s economic development while continuing to support local communities through corporate social responsibility initiatives.
