UFEZ, MEDEF INTERNATIONAL SIGN MoU TO BOOST ZAMBIA-FRANCE INVESTMENT

By Alain Kabinda

The United Federation of Employers in Zambia (UFEZ) has signed a Memorandum of Understanding (MoU) with French business organisation MEDEF International to strengthen trade, investment and private sector cooperation between Zambia and France.

The agreement was signed at the Zambia Development Agency (ZDA) in Lusaka, which is expected to open new business opportunities for companies in both countries through increased access to markets, technology, expertise and investment partnerships.

Speaking during the MOU signing United Federation of Employers in Zambia (UFEZ) Executive President Dr Humphrey Monde said the agreement represented an important step towards connecting Zambia's resource-rich economy with France's innovative private sector.

Dr Monde said the partnership was more than a formal agreement, but an opportunity to establish lasting business relationships that could support economic transformation and job creation.

He said Zambia offered considerable investment opportunities for French companies, particularly in transport, infrastructure, energy and agriculture.

Dr Monde said the agreement would also enable Zambian businesses to access MEDEF International's network of approximately 8,000 French companies organised into 90 Business Councils.

He said the network would provide opportunities for local businesses to access expertise, technology, investment capital and potential joint ventures.

Dr Monde said the partnership would equally provide French companies with access to Zambia's strategic position in Southern Africa and its potential as a gateway to the Southern African Development Community (SADC) and Common Market for Eastern and Southern Africa (COMESA) markets, which have a combined population of more than 500 million people.

He said UFEZ was committed to ensuring that the agreement translated into practical benefits for businesses, particularly small and medium-sized enterprises (SMEs), which remain important drivers of economic growth and employment.

Dr Monde outlined four commitments by UFEZ, including becoming an active implementation partner, upholding integrity and transparency, prioritising SMEs and promoting inclusive economic growth.

He said the partnership would also seek to create opportunities for young people, women and marginalised communities.

And Dr Monde called on UFEZ members, MEDEF International, Government and other stakeholders to organise business forums, trade missions and investment summits to facilitate commercial partnerships.

He further urged the partners to promote dialogue, address barriers to investment and strengthen confidence between businesses in the two countries.

Dr Monde thanked MEDEF International Managing Director Philippe Gautier and his team for their commitment to the partnership.

He also acknowledged Government, through the Ministries of Commerce, Trade and Industry and Labour and Social Security, for supporting an enabling environment for private sector cooperation.

And IN GROUPE Senior Vice-President for Government Sales and Marketing, Africa, Middle East and Asia, also president for East African business council MEDEF international, Ms Ce'line Gouveia, said the agreement would create opportunities for French companies to invest in Zambia and contribute to local employment creation.

Ms Gouveia said increased cooperation between businesses from the two countries would help attract investment and generate economic opportunities for Zambians.

She called on the partners to promote dialogue, address barriers to investment and strengthen confidence between businesses in Zambia and France.

Ms Gouveia said the agreement would also facilitate business connections and enable French companies to explore opportunities within Zambia through stronger institutional and private sector networks.

The partnership is expected to strengthen Zambia-France economic relations by expanding business networks, promoting cross-border investment and creating opportunities for local enterprises to participate in international markets.