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Interview with Mukula Makasa Director General Of The Zambia Development Agency (until January 2022)
ZambiaInvest interviewed Mukula Makasa, Director General of the Zambia Development Agency (ZDA) from September 2020 to January 2022.…
Zambia GDP Growth Revised to 3.8% in 2025, AfDB Projects Recovery to 5.0% in 2026 and 6.3% in 2027 as Inflation Eases to 9.3%
The AfDB African Economic Outlook 2026 revised Zambia's GDP growth to 3.8% in 2025, down from an initial 5.2% estimate, due to underperformance in ICT, trade, and finance, with inflation declining to 14.0% and public debt dropping to 87.6% of GDP following debt restructuring. Growth is projected to recover to 5.0% in 2026 and 6.3% in 2027, driven by mining, agriculture, and energy recovery, with inflation easing to 9.3% in 2026 and the current account swinging to a surplus of 0.8% of GDP on higher copper export earnings.
IMF Projects Zambia Fiscal Surplus To Fall To 1.1% Of GDP In 2026 From 3.1% In 2025 With Growth At 4.3% And Inflation At 8.5%
IMF staff concluded a visit to Zambia to review economic developments under the recently completed Extended Credit Facility programme and discuss a possible successor arrangement. The Fund projects the fiscal surplus to fall to 1.1% of GDP in 2026 from 3.1% in 2025, with growth at 4.3% and inflation expected at 8.5% by the end of 2026.
Zambia Gains Duty-Free Access to China’s Market Under New Zero-Tariff Policy
Zambian exporters have gained duty-free access to China on 100% of tariff lines from 1 May 2026, under a zero-tariff policy covering 53 of Africa’s 54 countries, with Eswatini the only excluded nation. Zambia’s exports to China totalled USD 2.34 billion in 2024, and the new policy is expected to drive diversification beyond copper into gemstones, honey, soybeans, sugar, cotton, tobacco, and processed minerals, since copper itself already entered China duty-free under existing rules.
Zambia Economic Growth Forecast Set at 5.5% for 2026 as IMF Cuts 2025 Growth to 4.5% and Warns of Fiscal Pressures
The International Monetary Fund projects Zambia’s economic growth at 5.5% in 2026 after revising the 2025 forecast down to 4.5% due to weaker mining and energy constraints. The mission also noted progress in debt restructuring, stronger reserves, declining inflation, and emerging fiscal pressures ahead of the elections.
Zambia Ranks 3rd in Africa for Mining Investment as Improved Policy Framework Boosts Global Ranking
The 2025 Fraser Institute survey ranks Zambia as the 3rd most attractive destination for mining investment in Africa, achieving a global rank of 25th out of 68 jurisdictions. Zambia leads regional peers like Tanzania in overall attractiveness, driven by a combination of significant mineral potential and a strengthening policy framework.
IMF Completes Sixth Review of Zambia Extended Credit Facility, Approves USD 190 million with GDP Growth Projected at 5.8% and Inflation at 9.3% in 2026
The International Monetary Fund has completed the sixth and final review of Zambia’s Extended Credit Facility, approving a USD 190 million disbursement and bringing total programme support to USD 1.7 billion. The Fund estimates GDP growth at 5.2% in 2025, driven by strong mining activity and record maize production, and projects growth of 5.8% in 2026, supported by improved electricity generation and continued expansion in mining and services, while inflation is projected to decline to 9.3%.
United States Imposes Partial Travel Restrictions on Zambia Affecting Business, Tourism, Study, and Immigration From January 1, 2026
The United States has announced partial travel restrictions on Zambia effective January 1, 2026, covering business, tourism, student, exchange, and immigrant visa categories. The decision is based on visa overstay data and screening assessments under a presidential proclamation.
Dot Com IPO in Zambia Oversubscribed by 114% and Closes Early on LuSE
The Lusaka Securities Exchange announced that the Dot Com IPO in Zambia was oversubscribed by 114% and closed one week ahead of schedule. The offer attracted strong retail participation and a high share of subscriptions from Zambian investors, with trading expected to begin on 17 December 2025.
Tanzanian Amsons Group To Develop 1,300MW Of Solar And Coal Power Projects In Zambia Worth USD 900 Million
Tanzania's Amsons Group and Exergy Africa Limited will invest USD 900 million to develop 1,300MW of new power capacity in Zambia, including 1,000MW of solar and 300MW of coal. The partners aim to meet Zambia’s future energy demand, improve grid reliability, and support industrial expansion.
S&P Upgrades Zambia Rating to ‘CCC+’ on Debt Restructuring and Copper Production Growth
S&P Global Ratings has upgraded Zambia's long-term foreign currency sovereign credit rating to 'CCC+' from 'SD' following significant progress in debt negotiations. The agency highlights a stable outlook driven by a 17.8% increase in copper production in H1 2025 and improved fiscal performance.