As a general rule, Zambian law does not limit foreign investors in any sector of the economy, although there are certain rules and practices that limit foreign control, which are listed below. The country reaffirmed its commitment to promoting private sector development and attracting foreign direct investment. Foreign direct investment, overseen by the Government, continues to play an increasingly important role in Zambia`s economy and contributes to increasing capital inflows and total investment. Foreign direct investment is supported by the Zambia Development Agency (ZDA), which is responsible for promoting economic growth and development in Zambia through the promotion of trade and investment and an effective, effective and coordinated economic development strategy, guided by the private sector. The ZDA does not discriminate against foreign investors and all sectors are open to domestic and foreign investors. Foreign and domestic individuals have the right to establish and own businesses and to participate in all forms of profitable activities, and no commercial project is reserved exclusively for the Government. Although private companies can freely set up and transfer shares in companies, the authorization of the Investment Board is required to transfer an investment license for a given company to a new owner. Zambia has signed the following bilateral trade agreements with other countries: in 2016, the CCPC issued a set of guidelines and guidelines involving the adoption of a formal leniency communication, a policy encouraging individuals to provide the CCPC with information that could contribute to the detection of prohibited agreements. In certain circumstances, the person enjoys immunity from prosecution, the imposition of fines or the guarantee of a reduction in fines. The Directive also calculates administrative penalties. In addition, in 2016, the CCPC issued draft comparative guidelines that provide a formal framework for parties wishing to use the CCPC for a transaction.
Non-bank financial institutions (NBFIs) are authorised and regulated in accordance with the provisions of the Banking and Financial Services Act 1994 (BFSA) and related prudential rules and guidelines. As the main players in the financial sector, MFIs are subject to regulatory requirements relating to their supervisory position, consumer protection and market behaviour, in order to ensure the overall soundness and stability of the financial system. MFIs include 8 leasing and finance companies, 3 mortgage companies, 1 credit information office, 1 savings and credit institution, 1 development finance institution, 80 bureaux de change, 1 credit bureau and 34 microfinance institutions. Zambia is a signatory to a number of international treaties governing international investment and has signed several NTBs, but there is still no harmonized investment legislation based on a national investment policy. While the government has made progress in improving the business and operating environment for businesses, especially foreign investors, weaknesses in the regulatory framework remain evident. . . .