The Government of Zambia has launched a tender offer to repurchase its U.S.$1,364,725,564 Fixed Rate Step-Up Amortizing Notes due 2053. To power this initiative, the Republic has secured a U.S.$600 million loan from the African Development Bank (AfDB) on favorable terms, complemented with the mobilisation of the Republic&rsquo;s own resources.&nbsp;

Zambia initiates a landmark debt-for-energy conversion with the support of the African Development Bank

Increase international reserves to create a buffer to cushion the economy against external shocks

The government of Zambia, with the IMF, has reached a staff-level agreement pending final approvals to unlock $194 million in financing. This support aims to bolster Zambia&rsquo;s economic stability, promote fiscal reforms, and foster sustainable growth amid ongoing financial reforms.

Zambia and the International Monetary Fund (IMF) reach staff-level agreement, pending final approvals to unlock $194 million in financing

The Government of Zambia signed a debt restructuring agreement with India&rsquo;s Export‑Import Bank, covering approximately USD 320 million of central government debt and USD 15 million owed by Zesco. This move under the G20 Common Framework offers more favorable terms, supports fiscal recovery, eases debt servicing, and frees resources for economic development.

Zambia clinches $335 million Debt Restructuring Deal with India's Exim Bank

Zambia's foreign exchange reserves reached a record high of $4.31 billion by the end of December 2024, boosted by multilateral bank project inflows. This was announced by Finance Minister Situmbeko Musokotwane in a parliamentary statement on January 31, 2025, outlining the country's economic performance.

Zambia's Foreign Reserves in High Record of $4.31 Billion Dollars

The Zambian and France governments have signed an agreement that paves the way to the signing of similar agreements with the other 15 State creditors and ultimately the actual restructuring of Zambia&rsquo;s debt.

France Signs Debt Restructuring Agreement with Zambia

The Government of Zambia has introduced travel and tourism into Zambia's secondary school curriculum under the 2023 Education Curriculum Framework to align education with labour market needs. Education Minister Douglas Syakalima stated the initiative, following President Hichilema's directive to reform the curriculum, aims to equip learners with practical skills and promote entrepreneurship in the growing tourism sector.

Government adds tourism to school curriculum

Strengthen academic credentials for the hospitality industry

The government of Zambia through ZESCO Limited, in collaboration with Beacon Power Services (BPS) Ltd., has launched a smart grid pilot project in Roma Township, Lusaka. This initiative aims to improve electricity reliability, decrease unplanned outages, and enhance customer service.

Zambia Launches Smart Meter Consumption Monitoring

Minimise transmission and distribution losses and enhance electricity network reliability

The government of Zambia has launched a Pamo Digital Finance Platform to enhance financial service accessibility for Micro, Small, and Medium Enterprises (MSMEs) nationwide.&nbsp;

Government Launches Digital Finance Platform to Boost Micro Small and Medium Enterprise (MSME) Growth

Promote MSME development at the community level

The Government of Zambia has launched the pilot apprenticeship programme in mining, agriculture, energy and tourism in different skills areas. More than 1, 000 will benefit from the pilot programme financed by the European Union (EU) and implemented by the International Labour Organisation (ILO) and TEVETA.

Zambia Launches Apprenticeship Programme to Boost Youth Skills and Employment

Promote broad-based re-education, up- skilling, retooling, and skills development for formal and informal workers in the public and private sectors

The government of Zambia, through the Ministry of Small and Medium Enterprises Development, has, since August 2021, under the UPND Administration, registered over 23,000 new cooperatives, increasing the total number of registered cooperatives in the country to over 100,000.&nbsp;

23,000 Cooperatives Registered

Promote farmer clubs and agricultural cooperatives

The government through the Ministry of Local Government and Rural Development (MLGRD) has signed 22 contracts totaling K926,900,256.56 for the rehabilitation of 701.6 kilometers of feeder roads across various districts.&nbsp;

Government signs 22 contracts for feeder roads worth K926.9m

Prioritise the grading of rural roads

The government of Zambia in October 2025, enacted the Geological and Minerals Development Regulations (Statutory Instrument No. 68 of 2025) to increase local company participation in the mining sector

Zambia - Introduces mandatory local content requirements and procurement thresholds in the mining sector

Establish a National Supplier Development Policy for the mining industry

The government of Zambia through the University of Zambia (UNZA), under the auspices of the School of Natural and Applied Sciences, has unveiled four new Master of Science programmes, a significant leap forward in the nation's scientific capacity development.

The ministry of Science and Technology Ministry Backs UNZA's new Science Programmes

Support the development of science and technology industries

The government of Zambia has increased the enrollment in skills training centers operated by the Ministry of Community Development and Social Services supported by the Constituency Development Fund (CDF) bursary.&nbsp;

Constituency Development Fund (CDF) Bursaries Increases Enrolment at Skills Centres and Colleges

Ensure policy linkages with education to build a skilled labour market

The government of Zambia rolls out the Anti-Illicit Financial Flows (IFFs) Policy Tracker Assessment.&nbsp;

Zambia Launches Anti-Illicit Financial Flows Policy Tracker

Amend existing laws relating to illicit financial flows

The government through the Bank of Zambia (BoZ) has introduced new benchmark bonds to develop its government securities market. The three-year bond will lose its benchmark status, and while the five-year bond retains its status, it will not be issued for the remainder of 2026. The BoZ will begin reopening benchmark bonds in April 2026 to reach a minimum target size.

Bank of Zambia Introduces New Benchmark Bonds

Ensure fiscal discipline and minimise government borrowing in the local market

The government of Zambia on November 10, 2022 officially implemented the Investment Trade and Business Development Act (No. 18 of 2022) making investors qualify for incentives under the Act when investing in a special economic zone, a business operating in a designated priority sector

Zambia Introduces new investment incentives

Introduce targeted policy incentives to attract large capital inflows

The government of Zambia in December 2025, enacted the Companies (Amendment) Act No 23 of 2025, introducing far-reaching reforms to the country&rsquo;s corporate regulatory framework. The amendments significantly strengthen transparency, expand the enforcement powers of the Registrar of Companies, and introduce stricter governance and compliance obligations for all registered entities.

Zambia enacts the Companies Act No 23 of 2025

Enact legislation aimed at improving the corporate governance environment in the country

The government of Zambia has enacted the Debt Management Act No 15 of 2022 which establishes the Debt Management Office&nbsp;

Zambia enacts the Debt Management Act of 2022

Create an autonomous national debt management office

The government of Zambia has launched the National Policy on Anti-Corruption.

President Hakainde Hichilema Launches the National Policy on Anti-Corruption

Enforce the legal framework against fraud and corruption, enhance transparency and improve competition

The government of Zambia has successfully implemented the Contract Tracking Management Information System (CTMIS), a collaborative effort between the E-Government Division (SMART Zambia Institute) and the Ministry of Justice.

SMART Zambia Revolutionizes Contract Management in Northern Province, Zambia

Ensure contracts management is supported by adequate monitoring and training

The Zambia Development Agency (ZDA) has approved a US$600,000 loan facility under the Zambia Export Development Fund (ZEDF) aimed at strengthening the country&rsquo;s export sector, with a strong focus on youth-led businesses and small enterprises supplying the mining industry.

Zambia Development Agency approves $600,000 Export Fund

Put in place export financing support instruments to support Zambian businesses

The Luanshya Municipal Council has implemented the cashless payment system which has seen the local authority &nbsp;have a 33% increase in revenue collection in one year&nbsp;

Luanshya Municipal Council Records 33% Local Revenue Collection Increase After Cashless Payments Introduction

Develop revenue mobilisation systems both at sub-national and national government level

The government of Zambia with support from the European Union has laucnhed the Renewable Energy Strategy &amp; Action Plan 2022.&nbsp;

Zambia Energy Ministry Launches Renewable Energy Strategy and Action Plan 2022

Establish policies and regulatory frameworks around energy supplies and property rights

The Government of Zambia through the National Assembly has enacted the Banking and Financial Services Act, 2026 which reforms Zambia's financial regulatory landscape by centralizing oversight under the Bank of Zambia (BoZ).

Zambia’s new Banking and Financial Services Act ushers in sweeping financial sector reforms

Enact strong investment banking regulations

The government of Zambia through the Minister of Finance&rsquo;s 2022 budget address, delivered on October 29 2021, introduced several key changes to the tax regime for investment. Among others, it reduced the general corporate income tax rate from 35% to 30%, extended the 15% corporate income tax rate for hotels&rsquo; income from lodging and food services through 2022; introduced a 20% withholding tax on reinsurance placed with non-Zambian firms and made the mineral royalty levy deductible for corporate income tax purposes.

Reduces the corporate income tax rate and introduces new tax incentives

Streamline tax incentives and maximise in-country capital retention

Zambia Consolidated Copper Mining - Investments Holdings (ZCCM-IH) and the Wonderful Group have entered into a partnership to develop and operate a $30 million integrated lime and cement production facility through a joint venture involving Ndola Lime Limited, expected to be rolled out in 2026. Under the agreement, Wonderful Group will hold a 55 percent stake in the project through a $25 million equity injection and a $5 million shareholder loan. ZCCM-IH will retain a 45 percent stake, backed by contributions from Limestone Resources Limited assets and the write-off of $9.8 million in historic debt.

ZCCM-IH, Wonderful Group Seal $30m Lime and Cement Joint Venture

Ensure that there are strong synergies between our job creation strategy and MSMEs strategy

The Zambia Development Agency has issued 13 investment permis for the Boabab Multi Facility Economic Zone, representing US195 million in investment and 7800 jobs

ZDA hands 13 permits in Baobab industrial zone

Improve the business environment and reduce the cost of doing business for the private sector

The government of Zambia has paid K75 million to 22,000 farmers in Mumbwa district who supplied maize to the Food Reserve Agency in the 2025 farming season with total disbursements to financial institutions completed&nbsp;

Govt pays K175 million to 22,000 farmers in Mumbwa District

Strengthen the agro-value chains

The government of Zabia has disbursed 20 millions kwacha to over 200 youths through the Busulu Loan Initiative Via CEEC

K20 Million Disbursed Through Imisepela Platform

Formation of MSME Community Savings and Loans Association and an MSME Development Fund

Nakonde Town Council has approved community projects under the 2025 CDF in energy, roads, water, health and education&nbsp;

Nakonde Council approves 10 projects

Develop and rehabilitate communal infrastructure

Government has approved extended hours of operation for business, markets and bus stations&nbsp;

Business operation hours extended

Improve regulatory frameworks and remove administrative barriers to business entry and operations

Zambia in partnership with the World Bank has launched the Zambia Agribusiness and Trade Project II (ZATP II), which is being implemented at a cost of US$170 million

Government and World Bank project to create 12,000 jobs

Promote small and medium scale agro-based and non-agricultural industries

Government has engaged players in the energy sector and to not hoard fuel&nbsp;

HH engages oil firms

Ensure a cost-reflective and steady tariff when investing in energy

Zambia launches the brand corporate day&nbsp;

Launch of Brand Zambia

Create a robust tourism marketing strategy

Cabinet has approved a request to seek a 12-month extension of Zambia&rsquo;s Extended Credit Facility (ECF) programme with the International Monetary Fund (IMF)&nbsp;

Cabinet Approves Extended Credit Facility Programme Request

Streamline the reporting of public debt and ensure full disclosure

Government through the Ministry of Tourism has signed a Memorandum of Understanding (MoU) with Italian Ambassador to Zambia, Enrico De Agostini, for Zambian-Italian culinary collaboration.

Zambia and Italy to sign Tourism MoU

Promote tourism diversification

President Hakainde Hichilema, China's Premier Li Qiang, and Tanzania's Vice President John Nchimbi have launched the US$1.4 billion &nbsp;revitalisation initiative for the Tanzania-Zambia Railway Authority (TAZARA).

Revitalisation of Tanzania – Zambia Railway (TAZARA) launched

Transform Zambia into a regional hub for road, rail and air logistics

The Zambian government negotiated the removal of &nbsp; transit duties on petroleum products, effective 27th November 2025 between Zambia and Zimbabwe&nbsp;

Zambia, Zimbabwe agree on import of electricity and petroleum

Restructure the fuel supply model to ensure fuel security and remove middle men

Zambia has signed an energy deal with Mozambique to develop a 1,500-megawatt power generation project

Zambia, Mozambique in Joint 1,500 MW Power Generation Project

Diversify the geography of large-scale electricity generation sources

The government of Zambia through the Zambia Revenue Authority has transmitted 84 million Smart Invoices aimed at enhancing revenue collection.

Government transmits 84 million Smart Invoicing Services

Broaden the tax base

The government of Zambia released K18.4 billion in July by the Treasury, highlighting it as a demonstration of the government's commitment to implementing the budget and meeting targets.

Government through the Treasury has released K18.4 Billion demonstrating commitment to Budget Implementation

Improve budget credibility through better planning and adherence to expenditure plans

The Government of Zambia released the revised national Micro, Small and Medium Enterprise Development Implementation Plan for 2023-2027.&nbsp;

Zambian Government revises the MSME development Policy

Reformulate and implement a well-balanced MSME development policy

The Zambian government has formally mandated ZCCM Investments Holdings Plc (ZCCM-IH) to lead the formalisation, development, and transformation of the country&rsquo;s gold sector. The Government&rsquo;s decision to entrust ZCCM-IH with this pivotal responsibility reflects a bold and forward-looking commitment to inclusive and sustainable economic growth,&rdquo;

Government of Zambia appoints ZCCM-IH to lead formalisation, transformation of Zambia’s gold sector

Establish a policy and plan to facilitate local ownership and participation in mining

The government of Zambia through the Ministry of Community Development has&nbsp; handed over agricultural equipment and livestock worth K1.3 million to Isoka District&rsquo;s Food Security Pack beneficiaries, boosting rural livelihoods and mechanisation.

Government Delivers K1.3 Million Worth of Agricultural Equipment and Livestock to Isoka District

Promote appropriate mechanisation of agriculture  to enhance growth and productivity

The government of Zambia has issued 90 letters of offer to mining cooperatives in Mufumbwe District to formalise operations at Kikonge Gold Mine, promoting legal, sustainable mining. Mines Minister Paul Kabuswe aims to empower local miners, curb illegal activity, and boost GDP via regulated gold trading.

Government Issues 90 Mining Licenses to Mufumbwe Cooperatives, Moves to Formalise Gold Mining

Promote small-scale mining

The government of Zambia has commissioned Zambia&rsquo;s 100 MW Chisamba Solar Power Plant, the nation&rsquo;s largest, as a milestone toward energy sovereignty and a low-carbon future. The project aims to reduce hydropower reliance, boost local employment, and empower communities, with Phase 1 active and Phase 2 planned, advancing Zambia&rsquo;s 1,000 MW solar target by 2025.

Zambia's President Launches largest Solar plant

Extend the grid network and deploy off-grid electrification solutions to rural areas

The government of Zambia, through the Minister of Finance,&nbsp; reaffirmed its commitment to fiscal discipline while spending K15.8 billion on public finance in May. The focus remains on maintaining prudent financial management to support economic stability and growth amid ongoing fiscal challenges.

Minister of Finance  reaffirms commitment to fiscal discipline, as govt spends K15.8 billion on public finance in May, 2025

Ensure fiscal expenditure rationalization, prudence and discipline

The government of Zambia has signed a fertilizer deal with Morocco to enhance food security. This partnership aims to improve fertilizer access, boost agricultural productivity, and support Zambia&rsquo;s efforts to achieve sustainable food self-sufficiency through strengthened regional cooperation.

Zambia, Morocco sign fertilizer deal to boost food security

Establish agro-input manufacturing industries in partnership with the private sector to produce seed, fertilizer, and tools

The government of Zambia and Angola have signed agreements to enhance cooperation along the Lobito Corridor, focusing on aviation. These collaborations aim to boost trade, connectivity, and economic ties, strengthening bilateral relations and facilitating smoother transportation and logistical operations between the two nations.

Zambia’s Meteorological Department warns of sporadic rainfall in parts of the country

Improve public information services on meteorological events and market information

The Zambia Public Procurement Authority released the second-quarter Market Price Index Catalogue, providing updated pricing data for procurement purposes. The catalogue aims to promote transparency, guide cost estimates, and ensure fair pricing in government procurement activities across various sectors.

Zambia Public Procurement Authority releases second quarter market price index catalogue

Ensure transparency and accountability in procurement and reporting of public debt

The government of Zambia through the Minister of Transport and Logistics Frank Tayali reaffirmed Zambia&rsquo;s aviation ambitions, highlighting progress on the Mansa Airport upgrade. The project is gaining momentum, aiming to improve infrastructure, boost regional connectivity, and support economic growth.

Mansa Airport gets an upgrade

Modernise, integrate and commercialise the airports and maximise the return investments from aviation

The Zambian government has revealed that it has provided over K9 billion in tax breaks to domestic industries in the past three years. The Minister believes tax incentives attract investments by alleviating the tax burden on local businesses.

Government has given Tax Breaks to Local Industries of upto K9 billion

Maintain a stable economic landscape to reduce cost of doing business

The Zambian government has announced that they are building two gold marketing centers in Mumbwa and Rufunsa districts, costing K19.2 million, and they will be completed this year. He also stated that the ministry's allocation for artisanal and small-scale mining activities has increased from K52.1 million in 2023 to K131.4 million in 2024, a figure that will remain the same in 2025. The government is taking a multi-sectoral approach to support artisanal and small-scale miners, including providing access to finance.

The Zambian Government Constructing Gold Marketing Centres

Extend the copper value chain, and promote exploration and processing of gemstones and industrial minerals

The Ministry of Agriculture reported that 5,445 loans totaling over K428 million were disbursed under the Sustainable Agriculture Financing Facility (SAFF).

Over K428 million in loans disbursed to smallholder farmers under Sustainable Agriculture Financing Facility (SAFF)

Partner with the private sector to ease access to and ensure availability of low-cost finance to farmers

Acting Minister of Small and Medium Enterprises Douglas Syakalima announced the disbursement of 74,392 marketeer booster loans, totaling over K153 million, during 2022 and 2023.

74,392 Marketeer Booster Loans Disbursed in 2022/2023

Develop suitable credit and finance facilities for youth and women

Local Government and Rural Development Minister Gary Nkombo has suspended the Chongwe Mayor and all councillors for 90 days amid allegations of land alienation. He appointed Chelstone Hamulyata as Local Government Administrator to manage the council during this period. Nkombo announced that Hamulyata would form a task force, including the Zambia Police, ACC, DEC, and his Ministry, to investigate the allegations. The government, led by President Hakainde Hichilema, is committed to ensuring development across the country while upholding the rule of law.

Chongwe Mayor and 3 others Suspended over land allegations

Correct the indiscriminate use of land and poor development practices by promoting orderly land management

The Zambian government has officially waived visa requirements for nationals of 53 countries under Statutory Instrument Number 78 of 2024, with the changes set to take effect on January 1, 2025.

Zambia waives Visa requirements for 53 countries to enhance Tourism

Establish public policies and investment strategies for local ownership and operation of tourism service and enterprises

The Zambian government has successfully completed the distribution of fertilizers, specifically Urea and Compound D, under the Direct Input Supply model, achieving a full 100% distribution. Additionally, the e-voucher model has seen progress, with current distribution levels at 98.4%. These initiatives illustrate the government's commitment to ensuring agricultural inputs are effectively provided to farmers.

Input Distribution under the Direct Supply Model completed

Provide targeted farm input packages to vulnerable groups of small-scale farmers

The government has installed new equipment at Mulungushi Textiles in Kabwe as part of a plan to revitalize the facility and boost the local economy.

Mulungushi Textiles receives new Equipment

Encourage value chain addition and agro-processing

After being recalled in an unprecedented move by Speaker of the National Assembly Nellie Mutti, Parliament yesterday met and adjourned sine die for the second time in seven days, only after approving a US$180 million debt. This is inline with the new policy that parliament has to approve the contraction of loans.&nbsp;

Parliament approves more debt for Zambia

Tighten the oversight role of parliament in debt contraction

Over 650 youths that have been trained under the Zambia National Service Programme have received equipment from the Ministry of Community Development. The Youths were trained in various skills such as carpentry, sewing, brickalaying, farming etc in 2023 at ZNS Camps in Chipata, Kasama and&nbsp; on the Copperbelt.

650 Youths graduate with skills from ZNS camps

Educate, motivate and encourage the youth to become successful entrepreneurs

Government has launched the National Public Free Wi-Fi Initiative in three public hubs to bridge the digital divide and empower citizens across the country. The initiative has been launched simultaneously at Intercity Bus Terminus in Lusaka, Chisokone Market in Kitwe and Kapiri Mposhi Bus Station.

Free WiFi launched to bridge digital divide

Promote the digital economy and advance knowledge and skills

The Industrial Development Corporation (IDC) Chief Executive Officer (CEO), Cornwell Muleya, has announced that the Zambian government has established a wealth fund that will comprise all the revenues generated from state-owned enterprises.&ldquo;This fund will be key in ensuring that the Zambian government saves money for future generations.

The Industrial Development Corporation  creates wealth fund for revenue from parastatals

Strengthen public investment management, project selection and financing

The Zambian authorities and the IMF team have reached a staff-level agreement on the authorities&rsquo; economic policies and reforms to conclude the fourth review of the 38-month Extended Credit Facility (ECF) arrangement.

IMF Reaches Staff-Level Agreement on the Fourth Review of the Extended Credit Facility with Zambia

Improve economic and fiscal governance through the strengthening of regulations

Tourism Minister RODNEY SIKUMBA has opened the Tazara Memorial Park Museum in Chongwe District, highlighting its significance in preserving the shared legacy of the Tanzania-Zambia Railway -Tazara.

Tazara Memorial Park Museum opens to the public

Maintain museums and restore information on cultural and natural heritage

Business volumes amounting to US$12.22 million have been recorded by the Zambia Development Agency (ZDA) from the recent Trade Mission to the Democratic Republic of Congo (DRC). ZDA last month undertook a trade mission in DRC&rsquo;s Hauti Katanga Province with a delegation of 40 companies with a goal of enhancing Zambia&rsquo;s non-traditional exports (NTEs) and securing market access for Zambian products.

Zambia Development Agency clinches US$12.22m deals in DRC trade outing

Prioritise public investments in regional, continental and global trade arrangements and promote PSD through an informed knowledge economy

Government signs the Information and Communications Technology Association of Zambia (ICTAZ) Act of 2018 Statutory Instrument (SI).

ICT statutory instrument unveiled to boost ethics professionalism in Zambai's technology sector

Introduce legislative and financial incentives to reward innovative technological solutions

Zambian government in partnership with the United Nations Development Programme has put together US$9 million to build a MineTech Hub&nbsp;

Citizens Watch

Promise

Promise History

Zambia initiates a landmark debt-for-energy conversion with the support of the African Development Bank

Zambia and the International Monetary Fund (IMF) reach staff-level agreement, pending final approvals to unlock $194 million in financing

Zambia clinches $335 million Debt Restructuring Deal with India's Exim Bank

Zambia's Foreign Reserves in High Record of $4.31 Billion Dollars

France Signs Debt Restructuring Agreement with Zambia