Investment Management in Zambia

The National Pension Scheme Authority

Republic of Zambia statutory pension scheme providing management of Social Security and Investments both in Properties & Treasury.

501 to 1000 staff

Industrial Development Corporation

The Industrial Development Corporation of Zambia is an investment company wholly owned by the Zambian government, incorporated in early 2014. IDC’s mandate is to play a catalytic role in deepening and supporting Zambia’s industrialisation capacity to promote job creation and domestic wealth formation across key economic sectors. The IDC plays its role through evaluation, pricing and lowering the investment risk profile by serving as co-investor alongside private sector investors. The IDC facilitates provision and raising of long term finance for projects. Simultaneously, IDC serves as an investment holding company for State-Owned Enterprises (SOEs) and new investments that ultimately generate earnings for the proposed Zambia Sovereign Wealth Fund. The IDC is an active shareholder and investor focused on a broad spectrum of sectors including agriculture, forestry, manufacturing, financial services, mining, energy, telecommunications, logistics, medical, education, tourism, real estate and media.

11 to 50 staff

Xsml Capital

XSML Capital is now investing through our fourth fund, African Rivers Fund IV, providing tailored debt, equity, and mezzanine financing — plus hands-on support — to enable SMEs to scale in Angola, the DRC, Kenya, Uganda, and Zambia. Since 2010, we’ve invested in around 100 companies, delivering strong returns for investors while driving job creation and expanding access to goods and services in underserved markets. Small and medium-sized enterprises (SMEs) are the backbone of economies worldwide — and Africa is no exception. Yet many African entrepreneurs lack access to affordable growth capital, limiting their ability to scale their businesses and help to foster economic growth, For fifteen years, XSML (eXtra, Small, Medium, Large) has invested in SMEs in challenging markets. Our teams on the ground in Kampala, Kinshasa, Luanda, Lusaka, and Nairobi work directly with entrepreneurs to provide customised financing and strategic support, guiding businesses from small to medium and large enterprises. We combine debt, equity, and mezzanine solutions to meet each company’s needs, often filling a gap for investments between US$ 300k and 10m. ESG standards, sustainability support, and gender equality are central to our approach. Since 2010, we have invested in around 100 enterprises, building deep market knowledge, sourcing the best opportunities, and staying close to our investments — generating attractive financial returns for our investors, including leading development finance institutions and dedicated impact investors. With ARF IV, we are scaling our impact, following investees into new markets, and continuing to back entrepreneurs who fuel growth in frontier

11 to 50 staff

Thebe Investment Management

We are a private investment firm focused on investing in rural and urban property development in Africa. We are also the developers of Nkwashi, a mixed use, multi-income residential estate in the eastern area of Lusaka in Zambia. Nkwashi is currently the largest real estate development in Zambia making it one of a kind in the region.

51 to 200 staff

Collins Mutual Limited

Collins Mutual Limited was formed for the purpose of managing investment assets and funds for the companies and staff members of the group. In 2017, Collins Mutual Limited identified opportunities to manage investments not only for the Group but for investors as well. The Company has established in roads with local Governments in order to empower them as they prepare for decentralization. We are partnering with local institutions to identify and manage revenue streams that will contribute to the creation of jobs and increase revenues which will enable Councils to be self-sustaining. AREAS WE INVEST IN: » Properties - housing, office spaces, hotels and malls » Education - universities and colleges » Agriculture and agri-businesses » Energy - power generation and distribution » Manufacturing » Infrastructure - Toll gates, Roads, Energy, Dams and Water lines PROPERTY DEVELOPMENT Our goal is to be the biggest asset manager in real estate. Zambia is in need of 3 million good standard housing units and Collins Mutual has placed itself to partner with local authorities to buy land and build good standard housing units. Collins Mutual is to raise and invest USD5 billion in real estate over a period of 15 years.

1 to 10 staff

Icm Equities Limited

ICM Equities is a diversified Investment Company whose interests consist mainly of investments in Financial Services, Consumer Goods, Agriculture, Energy, etc. We aim to build a forward looking and resilient portfolio that will deliver sustainable returns over the long term. We hope to achieve this by investing in businesses that have the potential to deliver superior earnings, cashflow generation and dividend growth over the long-term. The purpose is to grow ICM Equities' intrinsic net asset value by investing in a good balance of young growth companies and more established cash-generating companies to ensure superior returns to shareholders by way of sustainable dividend and capital growth. ICM Equities’ Investment Strategy · Emphasis on investments that will make a significant contribution to ICM Equities’ earnings · Both listed and unlisted investments · Passive minority interests in listed investees & considerable active minority interests in unlisted investees · Investments in entities where ICM Equities can identify sustainable value over the long term · Will consider investments in other countries on an opportunistic basis Primary sector focus- Financial Services - Agriculture - Consumer products - Energy - Real Estate (Commercial) Capital Allocation – The most important function. Capital is expensive and not infinite. As we deal with an uncertain future, exacerbated by the Covid-19 pandemic, and inevitably base capital allocation models on certain assumptions about the future, we need a margin of safety in our investment decisions. We need to be disciplined in our allocation of capital and, if we are wrong, we should act quickly and decisively. The value and performance of the underlying investments, rather than the activities at holding company level, will determine to a large extent the value created for an investment holding company’s shareholders.

1 to 10 staff

Madison Asset Management Company Ltd

Madison Asset Management Company (MAMCo) is a wholly owned Subsidiary of Madison Financial Services Plc (MFS Plc) which in turn is a subsidiary of the LSA Group, Zambia’s leading private sector diversified financial services group. MAMCo is regulated by the Securities and Exchange Commission of Zambia and is a member of the Lusaka Stock Exchange (LUSE).

501 to 1000 staff

Mashmap Consultancy Services

MashMap Consultancy Services is a Zambian registered consulting company offering services in, Business, Environmental, and Research Consulting. We are a highly organized and professionally operated consultancy company. Our team consists of professionals in the above mentioned fields with many years of experience and knowledge. Our emphasis is on quality of work that fully satisfies the clientèle needs with concentration being on every detail of work to ensure nothing is over looked, it is for this reason our clients look to us to see the future before their competitors do through strategic vision and gaining essential competitive advantages. This has earned us the position as one of the strong emerging firms in the fields of professional consulting services that addresses our clients needs and improving on their businesses, and the quality of life at large.

1 to 10 staff

Wcap Limited

wCap Limited is an investment management firm based in Lusaka Zambia that backs female-led businesses in Southern Africa. The firm aims to close a portion of the funding gap for female-led businesses in the region. We work with high-growth impactful businesses in tech, agribusiness, renewable energy and manufacturing. wCap is regulated by the Securities and Exchange Commission of Zambia.

1 to 10 staff

Zambia Business Angels Network

To oversee the development and implementation of effective mechanisms for the sustained growth and contribution of SMEs to Africa’s economic development.”

1 to 10 staff

Blackwell Consulting Allianz Investments Limited

Blackwell Consulting Allianz Investments Limited is a business services & consulting company with a special focus on providing world-class and trusted service for international and local businesses with an interest in Zambia and the Southern African region. BCA comprises a strategic team with the right acumen to apply innovative solutions developed to assist businesses to achieve their objectives at any level. From the early start-up business to the well-established, reputable firm, we aim to deliver world-class service suited to the Zambian business environment. Our business focus areas are; Research and Advisory with Agriculture as our key focus sector. Our Ethos is simple, “innovation adapted to our local business environment!” Our Mission is to assist you explore opportunities, launch ventures, and grow your existing business or idea through cost effective solutions, services and recommendations.

1 to 10 staff

Yavelbooking

Yavel focus is to provide high quality goods and services to our clients. Yavel is an indigenous Zambian Company registered under the Company’s act of the Zambian laws and was incorporated in the year 2012. Delivering exemplar quality projects, goods and services and exceeding client expectations is our primary motivation. We work with a diverse range of clients and sectors. Yavel Investments is a people-focused company, large enough to have strength in depth but also small enough to be sure of giving our clients close personal attention. Our teams are passionate and ambitious. We offer excellent experience, project ownership and a genuine chance to thrive and foster lasting business partnership

501 to 1000 staff

Equity Capital Resources Plc

Equity Capital Resources (ECR) Plc, an asset management and financial advisory firm was incorporated in Zambia in November, 2005. ECR Plc is a member of Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission (SEC) of Zambia for operations of Mutual funds/Collective Investment Scheme. We believe in investment for a better tomorrow. It enables growth, drives innovation and helps people achieve their goals. It’s about helping our clients make the right investment decisions, while creating a positive change for the world we live in.

11 to 50 staff

Mantis Trade And Investments Zambia Limited

Mantis Trade and Investments Zambia Limited (MTi), is a multi-faceted company established in October 2015, to invest in a diverse portfolio of business areas that demonstrate favourable prospects for sustainable growth in a fluctuant economy. MTi seeks to invest in high quality Zambian companies and or projects that have strong business franchises, attractive growth prospects, a leading market position or the ability to generate superior returns. It also invests in property development with a focus on low income housing as well as provides industry supply and support services.

1 to 10 staff

Cm Capital Investments Ltd

CM Capital Investments is a Southern African investment and advisory firm that focuses on creating and building sustainable businesses that have a positive social and financial impact. We believe that social impact and financial gain are not mutually exclusive, and we work tirelessly to create investments that benefit both our clients and the wider community.

11 to 50 staff

Hadassah Hart Consultants

Hadassah Hart Consultants (HHC) is a boutique investment advisory and project development firm driving transformative growth across Africa’s energy, infrastructure, and industrial sectors. We mobilize private capital for high-impact public and private ventures, bridging global investors, development partners, and governments to deliver commercially sound and socially sustainable outcomes. Our expertise spans project finance, strategy, and implementation, with a proven record of converting visionary concepts into bankable, execution-ready assets. Through strategic collaborations with global Fortune 500 institutions, development finance partners, and sovereign clients, we are redefining how African projects are structured, financed, and delivered.

1 to 10 staff

Insizwe Group

Insizwe is wholly owned by Zambians. It was established to provide personalized professional insurance and marketing services. Insizwe has built its reputation of providing clients across the nation and internationally with innovative solutions and professional service. WE ENSURE THAT WE HAVE AN OUTSTANDING REPUTATION.

11 to 50 staff

Ki Africa

It's all in the name: Kaleidoscope - representing the unique pieces, that when aligned just right, turn into something magnificent. Reflecting the opportunity of the incredible continent where we work. Impact - what we aim to achieve with each investment and partnership we undertake. Our goals stretch beyond the quarterly financial return, and our patient capital focuses on strong investments that build opportunity, drive inclusion, and see our funds work as a catalyst for more flows of investment into Africa. Africa - the only place we focus. This singular clarity towards the continent enables us to harness our energy and abilities on tough issues and significant outcomes. Our values drive our decisions: Our brand differentiates our firm from other organizations and institutions, and ensures there is no confusion on who we are and what we represent - ethical, transparent, impact-focused investment. After long careers, in frontier and industrialized settings, our principal team members know the difference between making money and making impact. Each of us are truly passionate about ensuring our principles are embedded in each relationship we enter into. We focus on the development of investments and partnerships that drive inclusion, are reflective of the intentions and principles of the UN SDG's, are non-exploitative, technically and financially sound, and create a positive and enduring impact in Africa. These are non-negotiable elements of who we are and what we represent. The impact focus, the catalyst nature of investment, and the desire to "do good" are the guides we rely upon in our investment decisions.

51 to 200 staff

Mentor Me Africa

Our Purpose Mentor Me was born out of a desire to alleviate the developmental deficit plaguing Africa, particularly in the wake of an ever increasing youth population that has limited prospects of meaningful advancement through the traditional avenues of primary, secondary, vocational and tertiary education and onto employment. The twin headwinds of plummeting school standards and irrelevant educational curricula have served to undermine the future prospects of the youth to fend for themselves in a time when entrepreneurship presents the best hope for alleviating the strain on local economies of hordes of vibrant but frustrated unemployed citizens. Mentor Me will be the conduit for innovative and sustainable upliftment of marginalised communities through enterprise. Our Vision To realise sustainable social and economic impact at depth and scale. Our Mission The Mentor Me mission has 3 elements: 1. Identify the key factors inhibiting MSME growth from a holistic (i.e. ecosystem) perspective 2. Build stakeholder collaboration for entrepreneurship support 3. Promote innovative risk-reduction strategies for MSME finance (mainstream supply chain finance as catalyst for MSME development) Our approach Holistic, collaborative and laser-focused on risk-reduction.

1 to 10 staff

Motley Group 2000

An ambitious incubation and acceleration program for start-ups and SMEs.

51 to 200 staff

Caravel Partners Zambia Ltd

Caravel Partners (Zambia) Ltd. is an SEC licensed wealth management firm owned and operated by qualified professionals who have decades of experience working in the offshore Private Client industry. We focus on Developing Africa. Focused Advice Every one of our clients has a unique story behind their wealth and unique plans for their future. We will offer targeted recommendations for a specific area or objective for your investment, retirement planning or protection. Recommendations can be tailored to your individual needs and preferred level of involvement in your investment decisions. Exceptional Solutions Each of our recommendations connects to innovative ideas and solutions. Having built a shared understanding and agreed objectives for your wealth, we work with other specialists to translate these ambitions into action. We complement our services with a restricted number of solutions from the wider market, to provide the perfect mix for your exacting needs. Long-time Partnership Having put the plan in place so that your wealth will grow in line with your aspirations, we will build and adjust your portfolio as markets and your own circumstances evolve. We are always on hand to discuss any aspect of your wealth strategy. Whether you seek continual or less frequent engagement, intelligent relationships are key to the exceptional service you can expect from Caravel.

1 to 10 staff

Northwestern Chamber Of Commerce & Industry

WHO ARE WE? North Western Chamber Of Commerce Is An Organization That Advocates The Interest Of Businesses In The Profit Across All Sectors Of The Economy The Chamber was duly registered in 2006 in accordance with the provisions of the Societies Act cap 119 of the laws of Zambia and the regulation made there under. The Chamber was formed after the conviction that the promotion and enhancement of a vibrant private sector, through effective interest representation, service delivery and Cooperation between the public sector and business is the foundation for building an economy which creates Employment and Equitable wealth. And the back-bone of such an Economy is a diverse and resilient Small and Medium Enterprise sector which chamber actively supports through the facilitation of a variety of business linkages. Vision NWCCI promotes and develops economic activities in all sectors in order to achieve a more diversified regional economy. It focuses especially on innovation and business improvement. NWCCI pursues an excellent relationship with private and public partners and acts as the voice of the private sector. MISSION STATEMENT To be the Pilot for successful businesses.

201 to 500 staff

Pulstatic Zambia Limited

Pulstatic Zambia Limited is a dynamic organization that seeks to become a market leader in investment and nature skills development, connecting people to attain excellence. We intend to create an enabling environment that solves problems in our society through different initiatives that our company offers.

1 to 10 staff

Umlimi Trade And Investment

Umlimi Trade and Investment is wholly Zambian owned company with the aim of facilitating and promoting agricultural trade and investment opportunities in Zambia.

1 to 10 staff

Citrine Limited

Citrine Limited has a wealth of experience developing and investing in ventures in numerous industries in the African and European markets. Our core segments include- Real estate - Infrastructure and - Technology Through specializing in the development and management of niche real asset investments and investment products, we have made great headway in the African Sub-Saharan Region. This is a segment whose circumstances and needs are unique and thriving, making it our core product focus area. Although our core product focus is in Africa, we house investment products in the European market as well and continue to expand our horizons over international markets.

1 to 10 staff

Black Corp

Black Corp is the group of company that helps people outside Zambia to buy properties and invest in various industries such as farming, energy, technology, real estate, mining, forestry and many more. Contact us for more information.

11 to 50 staff

Vestemoney

As an Investment Management firm, Veste Money is committed to offering you the best financial products and services tailored to your unique needs, helping you optimize returns and achieve long-term financial stability. Our mission is to bridge the gap between dreams and reality with innovative, intuitive and accessible investment solutions.

1 to 10 staff

Magosha Enterprises Ltd

investment group

11 to 50 staff

Munalo Ventures

A Zambian based and duly registered private owned investment and holding company driving African-led growth by acquiring and actively managing strategic investments across businesses, assets, and financial instruments.

1 to 10 staff

Wealthbridge Capital

Wealth Bridge Capital is a dynamic and innovative investment firm that specializes in the forex market. With an unwavering focus on capitalizing on the immense opportunities presented by foreign exchange trading.

1 to 10 staff

Dln-Group

51 to 200 staff

Natfin Equity And Capital Investments

Providers of Professional, Reliable and Tailored Financial, Investments and Business Solutions/Consultancy Services

11 to 50 staff

Stash Leading Services

Stash Leading Services is a dynamic investment company dedicated to driving growth across multiple business sectors. The company strategically invests in diverse portfolios, including Stash Laundry, Stash Media, and Stash Lending Services, with the goal of creating sustainable value and long-term returns. Through its diversified investments, Sash Leading Services aims to empower innovation, enhance service delivery, and contribute to the economic development of the communities it serves.

1 to 10 staff

Sforzo Group

Founded in 2022 and officially commencing operations in 2023, Sforzo Investment Group is a dynamic private holdings company headquartered in Zambia. With a bold mission to redefine efficient business management across the globe, Sforzo is driven by innovation, strategic foresight, and a commitment to operational excellence. At its core, Sforzo Investment Group functions as a diversified investment and management entity, overseeing a growing portfolio of high-potential businesses that span critical sectors of the modern economy. The Group currently manages three subsidiaries: sgCapital – A forward-looking financial services company delivering innovative financial solutions and investment opportunities tailored to meet the evolving needs of clients in a rapidly changing economic environment. sgBuy – A consumer electronics retail business providing access to quality, affordable technology and devices, with a focus on exceptional customer service and market responsiveness. sgSoil – A venture committed to driving sustainable growth across the agricultural and land management business sectors. Though presently focused on operations within Zambia, Sforzo Investment Group is laying the groundwork for future regional and international expansion. Each venture under its management reflects the Group’s overarching philosophy: to drive growth through disciplined leadership, strategic resource allocation, and a relentless pursuit of excellence. Sforzo Investment Group is not just a custodian of capital—it is a catalyst for transformative enterprise.

1 to 10 staff