Abu Dhabi, UAE: ZAKH Investment Group (ZIG) has signed a Memorandum of Understanding (MoU) with Sikute Free Zone in Zambia, marking a new step towards strengthening investment and business cooperation between Zambia and the United Arab Emirates.
The agreement was signed by Raul Zakharyaev, CEO of ZAKH Investment Group, and His Royal Highness Emmanuel Kalonga II, Sikute IX, during the Zambia-UAE Business Forum in Abu Dhabi. The signing took place in the presence of His Excellency Hakainde Hichilema, President of the Republic of Zambia, highlighting the growing engagement between Zambian institutions and UAE-based investors.
A New Partnership for Investment in Zambia
The MoU is expected to provide a framework for ZAKH Investment Group and Sikute Free Zone to explore opportunities for investment, business development and economic cooperation in Zambia.
The signing comes as Zambia continues to strengthen its efforts to attract international investment and develop new avenues for private-sector participation. For ZAKH Investment Group, the partnership represents an opportunity to build deeper commercial ties with Zambia and explore projects aligned with the country’s broader economic development priorities.
Speaking at the forum, President Hakainde Hichilema highlighted the scale of business cooperation between Zambia and the UAE. According to the President, memoranda signed during the forum covered various sectors with a combined value of USD 2.14 billion, reflecting the breadth of investment discussions taking place between the two countries.
Strengthening Zambia-UAE Business Relations
The engagement also comes within the wider context of Zambia’s efforts to promote investment, employment and sustainable economic growth. The country’s Grow Zambia Agenda places emphasis on attracting investment and creating opportunities that can contribute to long-term economic development.
For ZAKH Investment Group, the partnership with Sikute Free Zone forms part of its broader interest in developing international business relationships and identifying opportunities across emerging markets.
The company said it looks forward to working with Sikute Free Zone to translate the MoU into practical investment opportunities and initiatives that can contribute to economic activity and long-term value creation in Zambia.
The Zambia-UAE Business Forum brought together government representatives, business leaders, investors and other stakeholders from both countries, providing a platform to strengthen bilateral commercial relationships and identify areas for future cooperation.
The signing between ZAKH Investment Group and Sikute Free Zone adds another dimension to the expanding business dialogue between Zambia and the UAE, with both sides now expected to explore the next steps under the newly established partnership.
