IDC’s ‘wealth fund’ to grow economy
Published On October 2, 2024 » 726 Views» By Times Reporter » Business, Stories
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. Muleya

By CHATULA KANGALI –
THE Industrial Development Corporation(IDC) is set to launch the country’s first ever wealth fund to generate more than $1.6 billion next year as part of its 2024-2035 strategic plan.
This initiative aims to manage and grow Zambia’s wealth for future generations expanding the IDC mandate beyond managing State owned Enterprises (SOEs) and leading industrialisation efforts.
IDC chief executive officer Cornwell Muleya said in a statement the wealth fund was important for the country’s economic future.
Mr Muleya said fund would allow the nation to invest a portion of the revenue from its natural resources, particularly minerals to ensure financial stability for the future generation.

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