Qatari Firm Invests $31 Billion in Botswana and Zambia

Al Mansour Holdings, a Qatari company owned by the country’s royal family, has announced to invest $31 billion in two African states – Zambia and Botswana – in various sectors.

Zambia has signed a landmark $19 billion investment partnership with the Qatari company which was described by President Hakainde Hichilema as one of the largest bilateral deals in the country’s history.

According to media reports, the agreement was signed on August 18 in Lusaka by Acting Foreign Minister Rodney Sikumba and Sheikh Mansour Bin Jabor Bin Jassim Al Thani, and will investments in finance, housing, agriculture, and infrastructure.

The key provisions include the creation of a national investment and development bank, reforms to Zambia’s financial sector, and the introduction of state-backed investment mechanisms.

The deal also outlines plans to build 1.5 million homes, roll out smart city solutions, and launch large-scale agricultural projects aimed at food security, irrigation, agro-processing, and export-driven value chains.

The Zambian President, who oversaw the signing, said the focus must now shift from paperwork to delivery.

“After numerous engagements between Zambia and Qatar, today we signed 11 MoUs worth $19 billion in our priority sectors. Now we must move to implementation, and turn these documents into real meaningful opportunities for our people,” he wrote on X.

Beyond economics, the pact includes cooperation on peace, stability and sustainable development, reflecting what Hichilema called a new stage in Zambia-Qatar relations, ZimLive.com said in a report.

Trade between the two countries has been modest but volatile. According to the International Trade Center, bilateral trade peaked at $114.3 million in 2023 before plunging to $30.8 million in 2024, the report said.

Zambia hopes to utilise the partnership to position Qatar as both a gateway to Gulf markets and a source of long-term investment, while Doha sees Zambia as a strategic entry point into Africa, with rich potential in mining and agriculture.

A separate accord was also signed between Zambia’s state-owned Industrial Development Corporation (IDC) and Al Mansour Holdings, covering transport, mining, telecommunications and energy.

Deal With Botswana

Botswana’s President Duma Boko on Thursday announced a landmark agreement with Qatar’s Al Mansour Holdings, with the Gulf firm committing to invest $12 billion across multiple sectors of the southern African nation’s economy, Arise News reported.

The deal, signed in partnership with the state-owned Botswana Development Corporation, will channel funds into infrastructure, energy, mining, diamond refinement, agriculture, tourism, cybersecurity, and defence.

In a statement posted on Facebook, President Boko described the agreement as a “historic move” that would help tackle the country’s most pressing economic challenges, the report said.

Botswana, often hailed as one of Africa’s economic success stories, has faced mounting difficulties following a sharp downturn in the global diamond market. The slump caused a 3% contraction in gross domestic product last year and has raised fears of a further decline in 2025. Diamonds remain the backbone of Botswana’s economy, accounting for the bulk of its export revenues.

Signalling confidence that the investment would stabilise growth while laying foundations for diversification, Boko said that this historic move will be enough to address immediate challenges facing the country.

A Qatari delegation arrived in Gaborone on Wednesday as part of an investment mission to explore opportunities and deepen bilateral ties. The engagement underscores Botswana’s strategy to attract foreign capital as it seeks to expand beyond diamond dependency and strengthen its role in regional and global markets, the report added.