Zambia Signs $2.14 Billion in UAE Investment MoUs Led by Proposed Medical City

Oct 3

1 min read

ABU DHABI/LUSAKA — Zambia has signed memoranda of understanding valued at approximately $2.14 billion with United Arab Emirates investors, expanding economic ties across healthcare, renewable energy, technology, logistics and biotechnology.

The agreements were signed during the Zambia-UAE Business Forum in Abu Dhabi, attended by Zambian President Hakainde Hichilema.

The largest proposed investment is a $2 billion medical city near Kenneth Kaunda International Airport in Lusaka. The memorandum involves Zambia’s Ministry of Health and DIHAD Sustainable Project Management LLC.

Plans for the development include specialized cardiac, renal and cancer care as well as medical research and specialist training, with Zambia seeking to position the complex as a regional healthcare and medical-tourism hub.

Additional agreements include cooperation between the Zambia Development Agency and UAE investors to identify opportunities in sectors including agriculture, mining, infrastructure, housing, hospitality and water development.

The headline $2.14 billion figure represents the stated value of signed MoUs rather than capital already deployed. The next milestones will be project structuring, financing, regulatory approvals and movement toward financial close.

That distinction matters as African governments increasingly compete for Gulf capital. The UAE has become an increasingly important source of financing and investment across African logistics, energy, agriculture, infrastructure and mining.

Zambia is also seeking to use foreign investment to support its broader industrial expansion, including its ambition to raise copper output and increase domestic power generation.

The two countries are separately working toward a broader economic partnership intended to increase bilateral trade.

For Zambia, the immediate opportunity is substantial. The test will be how quickly the agreements move from investment commitments on paper to financed projects, construction activity and productive assets.