19/09/2025
ZAMBIA AND SAUDI ARABIA ESTABLISH JOINT BUSINESS COUNCIL TO STRENGTHEN TRADE AND INVESTMENT TIES
Lusaka... Friday September 18, 2025
The Zambia Chamber of Commerce and Industry (ZACCI) and the Federation of Saudi Chambers have signed a landmark Memorandum of Understanding (MoU) to formally establish the Saudi–Zambian Joint Business Council (JBC).
The signing ceremony, held in Lusaka, marks a major step in strengthening trade, investment, and economic cooperation between the two nations.
Reuben Mtolo, Minister of Agriculture, underscored Zambia’s ambition to diversify its economy beyond copper, highlighting opportunities in mining, agriculture, agribusiness, energy, tourism, and manufacturing.
He urged Saudi investors to partner with Zambia in transforming these opportunities into tangible projects that create jobs and wealth.
Speaking at the event, Mr. Crusivia Hichikumba, Permanent Secretary at the Ministry of Commerce, Trade and Industry, reaffirmed the government’s commitment to positioning the private sector as the driver of growth.
He emphasized Zambia’s focus on building an economy where private enterprise leads industrial transformation, job creation, and expanded participation in regional and global value chains.
Representing ZACCI, Mr. Andrew Sinyangwe, Vice President Services, on behalf of ZACCI President Mr. Anthony Kabaghe, welcomed the partnership with the Saudi private sector.
He noted that the JBC is not just a forum for dialogue but a catalyst for joint ventures, technology transfer, and expanded market access for Zambian enterprises.
On the Saudi side, Mr. Waleed H. Alorainan, Secretary General of the Federation of Saudi Chambers, representing His Excellency Ali Saad Al-Kahtani, Chairman, reaffirmed Saudi Arabia’s commitment to Zambia.
He highlighted that the Joint Business Council provides a strategic platform for mutually beneficial partnerships and enhanced cooperation across multiple sectors.