• Zambia and Qatar’s Al Mansour Holdings signed a $19 billion partnership in Lusaka.

• The agreement covers finance, housing, agriculture, mining, transport, telecoms, and energy.

• President Hichilema said the deal marks a new phase in Zambia-Qatar economic ties.

Zambia signed a $19 billion partnership with Qatar’s Al Mansour Holdings on August 18, 2025, in Lusaka. President Hakainde Hichilema oversaw the signing, describing it as one of the largest bilateral investment deals in the country’s history.

The accord was signed by Acting Foreign Minister Rodney Sikumba and Sheikh Mansour Bin Jabor Bin Jassim Al Thani. It includes plans to establish a national investment and development bank, reform the financial sector, and introduce state-backed investment mechanisms. It also outlines major projects in housing and urban development, including the construction of 1.5 million homes and the development of smart city solutions. Agriculture, food security, irrigation, agro-processing, and the creation of export-oriented value chains are among the other key areas of focus.

President Hichilema stressed the need for swift implementation, saying the agreement marks a new stage in both economic and diplomatic ties between Zambia and Qatar. Beyond investment, the two countries also plan to deepen cooperation on peace, stability, and sustainable development.

According to the International Trade Center, trade between Zambia and Qatar reached $114.3 million in 2023 but fell to $30.8 million in 2024. Lusaka sees Qatar as a gateway to Gulf markets and a source of long-term capital, while Doha looks to strengthen its presence in Africa, drawn by Zambia’s mining and agricultural potential.

A separate agreement was also signed between Zambia’s state-owned Industrial Development Corporation (IDC) and Al Mansour Holdings. It covers transport, mining, telecommunications, and energy.