President Hichilema Returns From UAE. Here is What Came Out of it

President Hakainde Hichilema is back home after a working visit to Abu Dhabi that produced a series of investment and economic cooperation agreements between Zambia and the United Arab Emirates, with signed MoUs valued at just over US$2 billion.

The biggest announcement was a proposed US$2 billion Lusaka Medical City, covering specialised healthcare facilities including a National Paediatric Cardiac Centre, a National Renal Transplant and Kidney Disease Centre, oncology and robotic surgery services. The development is also expected to include hotels, convention facilities and residential accommodation, with the broader ambition of positioning Lusaka as a regional health tourism centre.

Government has clarified that the Medical City MoU does not create a financial obligation for the Zambian Government, with investors expected to mobilise the required US$2 billion.

At the Zambia-UAE Business Forum, the Zambia Development Agency also signed an MoU with the Royal Group of Companies to explore investment opportunities in real estate, mining, agriculture and infrastructure.

The visit also opened discussions on fuel supply and pricing, with President Hichilema saying Zambia is exploring a long-term partnership with ADNOC Global Trading to reduce the volatility caused by monthly fuel-price adjustments. Government is considering longer pricing cycles as part of efforts to give businesses and consumers greater predictability.

Other areas of engagement included cooperation in rail, ports, logistics and mining, with Hichilema also discussing Zambia’s ambition to raise copper production to three million tonnes annually and increase local participation in the mining value chain.

The President told investors that Zambia had completed the difficult work of restoring macroeconomic stability and was now moving into a phase focused more heavily on growth, investment, trade and job creation under the Grow Zambia Agenda.

The challenge now is turning the agreements and investment commitments announced in Abu Dhabi into projects that actually reach financial close, begin construction and ultimately create jobs and economic activity in Zambia.

President Hichilema told investors the "heavy lifting of restoring macroeconomic stability had been done," and that Zambia's focus was now on growth, investment and job creation, in line with the Grow Zambia Agenda.

MUVI Editorial Team