Zambia recently launched the Growth Investment Partners Zambia (GIP Zambia), an investment platform that will invest over $300 million in local small and medium-sized enterprises (SMEs) over the next 15 years.
Unveiled by President Hakainde Hichilema in Lusaka, the GIP Zambia initiative represents a pivotal shift in the financing ecosystem, setting the stage for long-term, flexible and locally tailored capital to drive inclusive growth and entrepreneurship.
Backed by British International Investment (BII), the National Pension Scheme Authority (NAPSA), and Swedfund, the platform is poised to reshape how Zambian businesses access capital especially those in high-growth, job-creating sectors such as manufacturing, agriculture and financial services.
“SMEs are very important to any economy… They are the bedrock of growth. It’s the bedrock of jobs,” said President Hichilema, underscoring the role of entrepreneurs in Zambia’s economic transformation agenda.
The heart of GIP Zambia lies in addressing a critical gap: lack of suitable finance for growth-stage businesses. While SMEs contribute over 80% to Zambia’s GDP and 88% to national employment, many have remained underfunded, limiting their potential for expansion, innovation and job creation.
Now, with an initial fund of $70 million already secured $37.5 million from BII, $17.5 million from NAPSA, and $15 million from Swedfund the platform is ready to back 150 high-impact SMEs over the next decade and a half. Importantly, the capital will be provided in local currency, ensuring greater stability and alignment with domestic market realities.
A Strategic Alliance with a Vision for Inclusive Growth
Leslie Maasdorp, CEO of BII, emphasized the platform’s strategic intent:
“Zambia’s SME sector holds immense potential to drive inclusive growth and create jobs, but the right kind of capital remains elusive. GIP Zambia builds on our experience from GIP Ghana and reflects our long-term commitment to building local financing ecosystems that work for entrepreneurs.”
NAPSA, as a domestic anchor partner, views this initiative as both an investment and a national duty.
“This is not just an investment; it is an imperative,” said Shipango Muteto, NAPSA Board Chairperson. “It will help catalyse job creation and stimulate broader economic activity ultimately growing our membership base and securing the long-term future of our fund.”
Swedfund echoed the sentiment, highlighting the importance of tailored capital:
“Access to long-term financing is essential for SMEs to grow,” said Marie Aglert, Chief Investment Officer at Swedfund. “Our investment reflects our mission to scale up impact in Zambia and across Southern Africa.”
A Platform Designed by and for Zambians
Leading GIP Zambia is CEO Musonda Chipalo, who brings a strong understanding of the Zambian entrepreneurial terrain.
“Zambian entrepreneurs are full of drive and creativity, but too many face the same obstacle: lack of appropriate, long-term finance. GIP Zambia is here to change that,” Chipalo stated. “By mobilising domestic capital and working with international partners, we’re creating a stronger economy that truly works for Zambians.”
The platform will fund established, growth-ready SMEs those with annual revenues between $100,000 and $15 million and financing needs ranging from $500,000 to $5 million. Priority will be given to businesses with strong governance structures and a clear impact on employment generation.
A Turning Point for Zambia’s Private Sector
GIP Zambia’s launch isn’t just another development initiative it’s a watershed moment for entrepreneurship in Zambia. It’s about empowering doers and builders, people with solutions to local challenges who now finally have access to the capital they need to scale.
By rethinking how patient capital is deployed, and embedding it in Zambia’s financial infrastructure, this initiative lays the foundation for an entrepreneurial economy that is inclusive, sustainable, and locally anchored.
Zambia is signaling to its entrepreneurs: we believe in you. With the GIP Zambia platform, the government and its partners are betting on Zambians to innovate, create jobs, and drive homegrown development.
As the fund begins its rollout, the real work starts now identifying high-potential businesses, strengthening SME capacity, and ensuring that capital reaches the real economy.
For Zambian entrepreneurs, this is more than an opportunity it’s an invitation to lead.
