Skip to content
Subscriber Only

Zambia Plans Sovereign Wealth Fund to Stimulate Investment

Zambia plans to establish a sovereign wealth fund to spur investment outside the mining industry of Africa’s biggest copper producer, President Michael Sata said.

The fund will be set up through the Industrial Development Corp., which will oversee the southern African nation’s state-owned companies, Sata said in an e-mailed statement today. It “will focus on stimulating investment in strategic non-mining industries among others, thereby expanding the country’s investment portfolio and thus creating jobs,” he said.