Zambia's President Hakainde Hichilema has called for stronger economic cooperation between Zambia and Switzerland. He urged Swiss investors to expand their presence in the country as the government shifts focus from recovery to accelerated growth driven by investment, trade, and technology. This appeal was made at State House when President Hichilema received a delegation of Swiss business executives and multinational heads.
President Hichilema noted that Zambia had emerged from a difficult economic period following the change of government in 2021 and was now positioning itself for sustained growth. His administration inherited an economy burdened by unsustainable debt, declining performance, and a sovereign default. However, they have since worked to restore stability through reforms and debt restructuring. The President thanked Switzerland for supporting Zambia's debt restructuring programme, describing the assistance as crucial in creating fiscal space for recovery and development.
The President highlighted the revival of the mining sector, which had nearly collapsed before the government's intervention. Swiss-linked companies played an important role in supporting restructuring and recovery. President Hichilema said Zambia was now prioritising accelerated growth and seeking stronger partnerships with Swiss businesses to unlock investment opportunities. He emphasised the importance of technology, capital, and innovation in driving Zambia's development agenda.
President Hichilema proposed the establishment of a Comprehensive Economic Partnership Agreement between Zambia and Switzerland to provide a stronger framework for trade and investment. He urged Swiss investors to expand interests beyond copper and cobalt, citing Zambia's growing portfolio of minerals, including manganese, nickel, lithium, and rare earth elements. The President encouraged Swiss commodity traders to support Zambia's ambitions to expand exports of agricultural and other commodities.
President Hichilema reiterated the government's commitment to providing a predictable, investor-friendly environment, stressing that Zambia does not support expropriation and remains firmly committed to protecting investments. He urged European firms to move beyond traditional models of investment in Africa and instead pursue joint ventures with local partners to foster shared interests, mutual protection, and long-term benefits.
The delegation leader and Swiss State Secretary for Economic Affairs, Helene Budliger Artieda, expressed interest in scaling up direct investments and establishing a government-to-government economic framework with Zambia. She affirmed that Switzerland, as an export-driven and capital-exporting nation, is focused on high-technology "smart investments" that create in-country value, transfer specialised know-how, and generate substantial domestic employment.
Helene Budliger Artieda stated that Switzerland offers advanced know-how, quality, and technology, making it a natural partnership with Zambia. She noted that Zambia is an indispensable partner, particularly as Switzerland seeks to diversify its access to critical minerals. The Swiss government's focus on smart investments aligns with Zambia's goals for accelerated economic growth and development.
Key points
- President Hichilema urges Swiss investors to expand footprint in Zambia.
- Zambia and Switzerland discuss a Comprehensive Economic Partnership Agreement.
- Switzerland focuses on high-technology "smart investments" in Zambia.
