By Lwazi Dlamini
The Eswatini Investment Promotion Authority (EIPA) has signed a Memorandum of Understanding (MoU) with the Zambia Development Agency (ZDA).
The MoU is aimed at establishing a practical framework for the development of stronger business relations between the two countries, and to create opportunities for cooperation for the expansion of investment and trade relations between Eswatini and Zambia.
This will also strengthen institutional relations and capacity building through cooperation. The ZDA is Zambia’s economic development Agency with a multifaceted mandate of promoting and facilitating trade, investment and business development services in Zambia.
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Mr. Sibani Mngomezulu, CEO of EIPA comments on the agreement between the two organizations, “We are pleased to have signed an MoU with the Zambia Development Agency.
Such agreements allow us to continue to work towards EIPA’s mandate which is to attract, encourage and facilitate both local and foreign trade and investment in Eswatini.
EIPA guided by the Ministry of Commerce, Industry and Trade is currently in the final stages of the launching of the new Investment Policy as well as completing the amendment of the new EIPA Act of 1998.
These two documents will also support the establishment of a one stop service facility where investors will get to enjoy a suite of services including permit applications, trading licenses and others under one roof.
hese developments require us to build strategic partnerships with key stakeholders to gain the support and expertise needed to ensure their successful implementation into the local economy.
This MoU with the ZDA is one such partnership.”
The MoU was signed at the ZDA Offices in Lusaka Zambia on 14 November 2024. The document will form the basis of a relationship between EIPA and the ZDA which will see both parties undertake to cooperate in several areas.
The first of these is Investment and Trade Promotion and facilitation where the ZDA will assist Eswatini with increasing Zambian investment in Eswatini and vice versa.
This includes outward and inward Foreign Direct Investments (FDIs) between both countries which will be stimulated because of the new MoU.
The objectives also include undertaking Trade and investment missions into one another’s countries, increasing the volume and value of Trade between the countries and encouraging tourism.
The ZDA has also shown interest in taking part in the Eswatini International Trade Fair in 2025.
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The MoU will also allow for an information exchange between EIPA and the ZDA which will endeavor to create an exchange of information on trade and investments, rules, incentives, policies, regulations and investment opportunities as well as allowing for joint research activities to facilitate trade and investment.
The sharing of information and research will also allow for collaboration and Exchange Programs including the exchange of technical expertise, knowledge and training on opportunities in trade and investment promotion and facilitation, investor aftercare and policy advocacy.
This includes encouraging linkages for export between both markets as well as encouraging partnerships between SMEs from both countries.
Mngomezulu concludes, “This MoU will allow us to enjoy several benefits in partnership with the ZDA.
The aim is to make opportunities available for businesses in Eswatini for export, skills exchanges and partnerships all for Economic Development in Eswatini for the good of all citizens.”