Economic Updates

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Hichilema Urges Zambians to Leverage Kwacha Stability for Investment and Production

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LUSAKA, Tuesday – President Hakainde Hichilema has urged Zambians to seize the opportunity presented by a stabilizing currency to import productive equipment and shift the nation’s economic culture from consumption to investment. Addressing journalists during a press conference at State House, President Hichilema said Zambia’s improving economic fundamentals are creating a favourable environment for business

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Global Oil Movements Signal Potential Impacts for Zambia’s Energy Sector

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Lusaka — WTI crude oil futures rose to approximately $58.5 per barrel on Monday, following last week’s 3.4% decline, as markets weighed progress in US-brokered Russia-Ukraine peace talks. While some headway has been made, major hurdles remain over territorial and sovereignty issues. Comments from US and Ukrainian leaders suggested cautious optimism, with the possibility that

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Zambia Exits Default as S&P Upgrade Signals Revival of Investor Confidence and Economic Reform Momentum

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Lusaka — Zambia has formally emerged from default after S&P Global Ratings upgraded the sovereign to ‘CCC+/C’ from ‘SD/SD’, marking the country’s most significant step toward economic rehabilitation since its 2020 debt crisis. The move, accompanied by a stable outlook, signals rising international confidence in President Hakainde Hichilema’s reform agenda and reinforces Zambia’s position as

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Mansa Solar Plant to Feed 14MW Into National Grid Next Month as Transmission Delays Slow Full Rollout

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Mansa, Zambia — The long-awaited Mansa Solar Plant will begin supplying 14 megawatts of electricity to the national grid next month, ZESCO Managing Director Justine Loongo has announced. However, the output remains far below the site’s full 50-megawatt capacity due to delays in completing key transmission infrastructure. Speaking during an inspection of the US$48 million

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IMF Projects Zambia’s Economy to Grow by 5.8% in 2025, Signalling Strong Recovery Momentum

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The International Monetary Fund (IMF) has projected Zambia’s real Gross Domestic Product (GDP) to grow by 5.8% in 2025, reflecting renewed economic momentum driven by improved mining output, stabilising macroeconomic conditions, and ongoing structural reforms. The forecast places Zambia among the faster-growing economies in the region, marking a period of strengthened recovery after years of

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Bank of Zambia Cuts Policy Rate to 14.25% as Inflation Continues to Ease

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Lusaka, November 12, 2025.The Bank of Zambia has reduced the Monetary Policy Rate by 25 basis points to 14.25%, signalling a cautiously optimistic outlook on inflation and economic stability. The decision was made during the Monetary Policy Committee (MPC) meeting held from November 10–11, 2025, and announced by Governor Dr. Denny Kalyalya at a press

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Bank of Zambia Concludes Second Phase of Nationwide Sensitisation on New Currency Series Ahead of 2026 Deadline

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The Bank of Zambia has successfully completed the second phase of its nationwide sensitisation programme as part of the ongoing transition to the new series of Zambian currency. The outreach initiative covered all ten provinces and focused on ensuring that citizens, institutions and communities fully understand the features, security enhancements and timelines associated with the

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COMESA Central Bank Governors Push for Stronger Regional Trade to Shield Economies from Global Shocks

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Kampala, Uganda — 20 November 2025.Global economic shocks are tightening supply chains and triggering volatile commodity prices, exposing the fragility of the world economy—and COMESA is no exception. As a resource-rich region heavily reliant on exports, the ripple effects are significant. Yet, amid the turbulence, a message of resilience rang clear at the 2025 COMESA

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