According to the Foreign Private Investment and Investor Perceptions in Zambia 2020, FDI liability flows grew by 52.3% to USD 859.8 million in 2019 from USD 564.5 million in 2018.
FDI was mostly in the mining and quarrying sector.
The major source country for FDI liability flows in 2019 was Australia, accounting for a net inflow of USD 214.9 million mostly equity and debt.
Net inflows from the British Virgin Islands, Ireland, Switzerland, China, and Singapore amounted to USD 546.9 million.
Net outflows to the United Kingdom, Netherlands, and Bermuda were due to accumulated retained losses and debt repayments
The stock of FDI liability increased by 12.7% to USD 20.9 billion due to borrowings and higher equity capital flows as well as revaluation effects on reserves and loans especially in the mining and quarrying sector
Private sector foreign liability (PSFL) net inflows were significantly lower at USD 357.1 million in 2019 than USD 924.7 million in 2018.
The reduction was due to debt repayments to non-related parties, mainly by the mining and quarrying, manufacturing, deposit-taking corporations as well as information and communication sectors
The private sector external debt stock grew by 4.0% to USD 14.6 billion at the end of 2019. Switzerland continued to be the major source country for debt.
In contrast, private sector foreign asset flows contracted by 31.8% to USD 447.2 million. The decline was due to the reduction in currency and deposits by deposit-taking corporations.
In the first half of 2020, Zambia recorded a net outflow of FDI of USD 250 million compared to net inflows of USD 412 million recorded in the corresponding period in 2019.
This was largely attributed to the significant increases in losses mostly in the mining sector.
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