ZDA records reduced jobs in 2018

The Zambia Development Agency (ZDA) has recorded a projected decline in the number of jobs this year of 20,709 compared to 24,660 last year, representing a 19 per cent decrease.

The Agency has, however, recorded a US$3.9 billion projected investment in various sectors of the economy and facilitated export deals worth US$109.5 million.

In a statement availed by ZDA manager of communications and public relations Faith Musonda, ZDA recorded a projected employment decrease of 20,709 in 2018 compared to 24,660 last year, representing a 19 per cent this year compared to 2017.

“…In the same vein, the Agency recorded projected employment of 20,709 jobs in 2018 compared to 24,660 in 2017 denoting a decrease of 19 per cent,” the statement read.

But ZDA data shows that the Agency facilitated deals in form of spot sales and business deals, and that the energy sector made up 39 per cent of the total project investment.

“The Agency has also facilitated export deals worth over US $109.5 million in form of on-spot sales and business deals that were clinched by the private sector at various export promotion platforms. Acting Director-General Mr. Cosam Ngoma said of the total projected investment, the energy sector recorded the highest valued at US $1.5 billion, representing 39 per cent, the manufacturing sector was second with US $708.4 [million], representing 18 per cent followed by the mining sector with US $241 million, representing 6 per cent. Of the total recorded projected investment, US $21.7 million was investment in the various Multi-Facility Economic Zones (MFEZs) and industrial parks around the country. During these export promotion activities, the Agency facilitated export deals worth US $109.5 million in form of on-spot sales and business deals that were secured by the private sector at various export promotion platforms. Participating at various export promotion platforms gave Zambian exporters enhanced visibility and exposure in order to increase export sales of Zambian products into foreign markets,” read the statement.

“Mr. Ngoma noted that the increased projected investment in the energy sector is a direct result of government’s efforts in the promotion of increased investment in alternative sources of energy in addition to hydropower arising from power deficits faced by the country in recent years, which adversely affected the performance of the economy.”

Meanwhile, Musonda further stated that the ZDA assisted 1,529 Micro-Small-Medium Enterprises (MSMEs) with business linkages, which included market access support through backward and forward linkages to large enterprises, such as supermarket chains and access to finance with various financial institutions across the country.

         

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