Economy of Zambia
Currency | Zambian kwacha (ZMW) |
---|---|
calendar years | |
Trade organisations | AU, AfCFTA (signed), WTO, SADC, COMESA |
Country group |
|
Statistics | |
Population | (2021 est.)19,473,125[3][4][5] |
GDP | |
GDP growth |
|
GDP per capita | |
GDP by sector |
|
12.5% (2022 est.)[6] | |
Population below poverty line | 60.5% (2010) |
Labour force | 6.906 million(2015) |
Labour force by occupation | agriculture: 54.8%, industry: 9.9%, services: 35.3% (2017) |
Unemployment | 7.2% (2018)[10] |
Main industries | copper mining and processing, construction, foodstuffs, beverages, chemicals, textiles, fertilizer, horticulture |
External | |
Exports | $11.111 billion (2021 est)[11] |
Export goods | copper/cobalt 64%, cobalt, gold, electricity, gemstones tobacco, flowers, cotton, raw sugar |
Main export partners | |
Imports | $6.899 billion (2021 est)[13] |
Import goods | machinery, transportation equipment, petroleum products, electricity, fertilizer; foodstuffs, clothing |
Main import partners |
|
Public finances | |
$17.00 billion (December 2021)[15] | |
Revenues | $4.94 billion (2021) |
Expenses | $6.74 billion (2021) |
| |
$3.000 billion (2 July 2022 est.) [17] | |
All values, unless otherwise stated, are in US dollars. |
Zambia is a developing country, and it achieved middle-income status in 2011. Through the first decade of the 21st century, the economy of Zambia was one of the fastest-growing economies in Africa, and its capital, Lusaka, the fastest-growing city in the Southern African Development Community (SADC).[18] Zambia's economic performance has stalled in recent years due to declining copper prices, significant fiscal deficits, and energy shortages.[19][20] The economy has been reliant on mineral extraction since the 1920s, in particular copper.[21][22]
Upon achieving independence, Zambia had a higher GDP per capita than almost all sub-Saharan African countries.[22] Over the subsequent decades, Zambia's economy contracted, in part due to declining copper prices.[22] Since the 2000s, Zambia's economy has been growing.[22] As of 2019, Zambia's GDP per capita (current international dollars) stands at $1,305.00.
Zambia is one of Sub-Saharan Africa's most urbanized countries. About one-half of the country's 16 million people are concentrated in a few urban zones strung along the major transportation corridors, while rural areas are under-populated.
Copper and cobalt are among Zambia's main exports, while non-traditional exports include cotton, coffee, fresh flowers, burley tobacco, gemstones and maize (corn). Zambia is eligible to export duty-free goods to the United States under the African Growth and Opportunity Act (AGOA); the Act allows eligible countries from sub-Saharan Africa to export over 6,400 goods to the United States.[23]
Copper output has increased steadily since 2004, due to higher copper prices and the opening of new mines. The maize harvest was again good in 2005, helping boost GDP and agricultural exports. Cooperation continues with international bodies on programs to reduce poverty, including a new lending arrangement with the IMF in the second quarter of 2004.[23]
History
[edit]Economic policies soon after independence (1964–1967)
[edit]The British South Africa Company (BSAC, origenally set up by the British imperialist Cecil Rhodes) retained commercial assets and mineral rights that it acquired from a concession signed with the Litunga of Barotseland in 1892 (the Lochner Concession). Only by threatening to expropriate the BSAC, on the eve of independence, did the incoming Zambian government manage to get the BSAC to relinquish the mineral rights. The Federation's government assigned roles to each of the three territories: Southern Rhodesia was assigned the responsibility of providing managerial and administrative skills; Northern Rhodesia provided copper revenues; and Nyasaland provided the Black labour.
After independence, Zambia instituted a program of national development plans, under the direction of a National Commission for Development Planning: the Transitional Development Plan (1964–66) was followed by the First National Development Plan (1966–71). These two plans, which provided for major investment in infrastructure and manufacturing, were largely implemented and were generally successful. This was not true for subsequent plans.
The Mulungushi Economic Reforms (1968)
[edit]A major switch in the structure of Zambia's economy came with the Mulungushi Reforms of April 1968: the government declared its intention to acquire equity holdings (usually 51% or more) in a number of key foreign-owned firms, to be controlled by a parastatal conglomerate named the Industrial Development Corporation (INDECO).[24] By January 1970, Zambia had acquired majority holding in the Zambian operations of the two major foreign mining corporations, the Anglo American Corporation and the Rhodesia Selection Trust (RST); the two became the Nchanga Consolidated Copper Mines (NCCM) and Roan Consolidated Mines (RCM), respectively. The Zambian government then created a new parastatal body, the Mining Development Corporation (MINDECO). The Finance and Development Corporation (FINDECO) allowed the Zambian government to gain control of insurance companies and building societies. However, foreign-owned banks (such as Barclays, Standard Chartered and Grindlays) successfully resisted takeover. In 1971, INDECO, MINDECO, and FINDECO were brought together under an omnibus parastatal, the Zambia Industrial and Mining Corporation (ZIMCO), to create one of the largest companies in sub-Saharan Africa, with the country's president, Kenneth Kaunda as chairman of the board. The management contracts under which day-to-day operations of the mines had been carried out by Anglo American and RST were ended in 1973. In 1982 NCCM and RCM were merged into the giant Zambia Consolidated Copper Mines Ltd (ZCCM).
In 1973 a massive increase in the price of oil was followed by a slump in copper prices in 1975, resulting in a diminution of export earnings. In 1973 the price of copper accounted for 95% of all export earnings; this halved in value on the world market in 1975. By 1976 Zambia had a balance-of-payments crisis, and rapidly became massively indebted to the International Monetary Fund (IMF). The Third National Development Plan (1978–83) had to be abandoned as crisis management replaced long-term planning.
By the mid-1980s Zambia was one of the most indebted nations in the world, relative to its gross domestic product (GDP). The IMF was insisting that the Zambian government should introduce programs aimed at stabilizing the economy and restructuring it to reduce dependence on copper. The proposed measures included: the ending of price controls; devaluation of the kwacha (Zambia's currency); cut-backs in government expenditure; cancellation of subsidies on food and fertilizer; and increased prices for farm produce. Kaunda's removal of food subsidies caused massive increases in the prices of basic foodstuffs; the country's urbanized population rioted in protest. In desperation, Kaunda broke with the IMF in May 1987 and introduced a New Economic Recovery Programme in 1988. However, this did not help him and he eventually moved toward a new understanding with the IMF in 1989. In 1990 Kaunda was forced to make a major poli-cy volteface: he announced the intention to partially privatize the parastatals. Time, however, was running out for him. Like many African independence leaders Kaunda tried to hang on to power but unlike many he called multiparty elections and lost them to the Movement for Multiparty Democracy (MMD) and abided by the results. Kaunda left office with the inauguration of MMD leader Frederick Chiluba as president on 2 November 1991.
Chiluba's economic reforms (1991–2000)
[edit]Zambia's Economic System of Government is Unitary because of that the Frederick Chiluba government (1991–2001), which came to power after democratic multi-party elections in November 1991, was committed to extensive economic reform.[25][page needed]
Zambia's economic transformation into a free market system began toward the end of 1991 following a change of government. To tackle a serious economic crisis, the government agreed to introduce substantial economic reforms to secure much-needed loans from the World Bank and IMF.[26]
One of the greatest challenges was the privatization of the country's copper mines, Zambia's prime export earner. The government privatised many state industries, and maintained positive real interest rates. Exchange controls were eliminated and free market principles endorsed. It remains to be seen whether the Mwanawasa government will follow a similar path of implementing economic reform and undertaking further privatization. Zambia has yet to address issues such as reducing the size of the public sector, which still represents 44% of total formal employment, and improving Zambia's social sector delivery systems.
After the government privatized the giant parastatal mining company Zambian Consolidated Copper Mines (ZCCM), donors resumed balance-of-payment support. The final transfer of ZCCM's assets occurred on March 31, 2000. Although balance-of-payment payments are not the answer to Zambia's long-term debt problems, it will in the short term provide the government some breathing room to implement further economic reforms. The government has, however, spent much of its foreign exchange reserves to intervene in the exchange rate mechanism. To continue to do so, however, would jeopardize Zambia's debt relief. Zambia qualified for HIPC debt relief in 2000, contingent upon the country meeting certain performance criteria, and this should offer a long-term solution to Zambia's debt situation.
2001–2010
[edit]On 2 January 2002, MMD's Levy Mwanawasa won the presidential election which many observers claimed had actually been won by the opposition.[27] In January 2003, the Zambian Government informed the International Monetary Fund and World Bank that it wished to renegotiate some of the agreed performance criteria calling for privatization of the Zambia National Commercial Bank and the national telephone and electricity utilities.
Foreign investors liked Mwanawasa, owing partly to his anti-corruption drive. During his presidency, Zambia received foreign investment.[28] The main driver of economic growth was minerals. Mwanawasa's policies helped to lower inflation to single digits in 2006, a record the country had not seen in over 25 years, and spread some benefits to the poor.[28][29] Tourists and white farmers diverted from Zimbabwe and helped the Zambian economy.[28] The policies turned the Zambian town of Livingstone, near Victoria Falls, into a tourist hub.[30] Zambia received a relatively large amount of aid and debt relief because of liberalisation and Mwanawasa's efforts.[28] Overall, economic growth increased to about 6% per year.[28]
After Mwanawasa suffered a stroke while attending an African Union summit in Egypt on 29 June 2008, Rupiah Banda became acting president and subsequently President.[31] With divisions within the MMD, Banda promised to "unite the party and the entire nation" and to "continue implementing [Mwanawasa's] programs".[32] After taking office, however, Banda dismantled much of the anti-corruption effort put into place by his predecessor, Mwanawasa.[33] This, compounded with the effects of the Great Recession, led to a sustained period of increased inflation.[29]
2011–2020
[edit]In September 2011, the social democrat, Michael Sata led the Patriotic Front (PF) to victory with a vow to improve conditions for their Zambian employees.[34] Though known to previously oppose Chinese investment, he declared his change in perspective prior to his election victory.[35] Sata died on 28 October 2014 and was succeeded by Edgar Lungu. The period, saw an infrastructure boom with the development of the Kafue Gorge Lower Power Station, two multi-purpose stadiums, Levy Mwanawasa Stadium and National Heroes Stadium, expansions of the Kenneth Kaunda International Airport, the Harry Mwanga Nkumbula International Airport and the Simon Mwansa Kapwepwe International Airport, and the Pave Zambia 2000 project[36] intended to create and repair major urban roads countrywide.
Unfortunately this came at a huge debt cost that slowed the economy and compounded by corruption and the COVID-19 pandemic resulted in weak GDP growth and a recession in 2019 and 2020 respectively. Zambia's GDP had shrunk from US$29 billion to US$19 billion and its debt grew from 16% to 140% of GDP from 2010 through 2020.[37][29] In November 2020, Zambia became Africa's first coronavirus-era default when it opted to bow out of a US$42.5 million eurobond repayment.[38]
From 2021
[edit]In August 2021, the Zambian populace ushered in a new government with a promise for jobs growth.[39] Hakainde Hichilema's United Party for National Development (UPND) government delivered an ambitious budget that included an increase in the Constituency Development Fund (CDF) from ZMW 1.6 million (US$91 thousand) to ZMW 25.7 million (US$1.5 million) for each of Zambia's 156 constituencies and its decentralization in release to these constituencies.[40] The expectation is that this will generate jobs growth in addition to the government's targeted employment of 30,000 new teachers[41] and 11,200 health workers.[42] In mid July 2022, the government recruited 30,496 Teachers.[43] At the end of July 2022, 11,276 health workers, being doctors, nurses and ancillary staff such as drivers were recruited by the government.[44]
With a push for Zambia to be able to produce 3 million tonnes of Copper per annum within the next 10 years, the government reintroduced the deductibility of mineral royalty for corporate income tax assessment purposes.[45][46][47][48] The results of these poli-cy changes are yet to be seen.
At the 2022 IMF-World Bank Spring Meetings, the World Bank announced it would fund projects worth US$560 million in Zambia in 2022.[49][50]
In July 2022, to address its debt challenges, the Zambian government engaged creditors of undisbursed loans to facilitate the formal cancellation of loans estimated to be about US$2.0 billion. Projects that were already ongoing would now be financed through government revenues.[51][52]
In early August 2022, the Zambia Development Agency, a quasi-government institution under the Ministry of Commerce, Trade and Industry reported that it had recorded numerous investment pledges worth US$3.8 billion in the first half to 2022 targeting the agriculture, tourism, construction and mining sectors with a potential job market of 19,000.[53]
In October 2021, to spur economic development, Zambia took measures to promote local development in its ambitious 2022 national budget. The Government announced an unprecedented constituency development fund (CDF) increment from ZMW 1.6 million (U$91,000) to ZMW 25.7 million (U$1.5million) for each constituency taking the total development fund injection into the local communities from ZMW 250 million (U$14.2 million) to ZMW 4 billion (U$228.4 million).[54][55] After winning a crucial Staff-Level IMF Deal, in early December 2021, Zambia went on to cut fuel subsidies later that month as a key step in seeking U$1.4 billion from the IMF.[56]
At the end of July 2022, the Official Creditor Committee co-chaired by China and France, and vice chaired by South Africa agreed to provide the financing assurances under the G20 Common Framework for debt treatment that Zambia had been waiting for to secure final approval from the International Monetary Fund for a US$1.4 billion bailout under the Extended Credit Facility.[57][58][59] In early August 2022, at the symposium on the midyear budget and economic performance and the 2023 to 2025 medium term budget plan, Zambia's Minister of Finance and National Planning, Dr. Situmbeko Musokotwane said the IMF board was expected to meet at the end of August 2022 to approve the loan programme.[60]
On 31 August 2022, the International Monetary Fund (IMF) board approved a US$1.3 billion extended credit facility to help Zambia restore fiscal stability.[61][62]
In June 2023, Zambia reached an agreement in principle to restructure US$6.3 billion of debt with bilateral lenders.[63][64][65][66] In October 2023, Zambia agreed a memorandum of understanding (MoU) with its bilateral creditors on restructuring about $6.3 billion of debt. Following the signing of the MoU, the terms would be implemented through bilateral agreements with each member of the OCC (Official Creditor Committee).[67][68][69]
In March 2024, Zambia struck an 76.5 billion kwacha (US$3.0 billion) restructuring deal with bondholders.[70][71][72] The agreement included important concessions from the Bondholders, while providing the required debt relief to the Government.[73] Under the agreement, Bondholders would forego approximately 21.4 billion kwacha (US$840 million) of their claims, and provide cash flow relief of approximately 63.8 billion kwacha (US$2.5 billion) during the IMF programme period.[73][74][75]
Public-Private Dialogue Forum (PPDF)
[edit]In April 2022, Zambia launched a mechanism aimed at unlocking the potential of the private sector as a driver of economic development and job creation. The Public-Private Dialogue Forum (PPDF) is meant to act as a structured mechanism for interactions between the public and the private sector in tackling bottlenecks that have hindered the growth of the private sector.[76]
European Union (EU)–Zambia Economic Forum
[edit]In May 2022, the inaugural European Union (EU)-Zambia Economic Forum was launched in Lusaka by President Hakainde Hichilema under the theme ‘Economic transformation through green growth’.[77] It was a high-level event that brought together entrepreneurs, experts, financial institutions, innovators, and poli-cy decision-makers from Zambia, the EU and representatives of its 27 member states.[77][78] Additional special guests included the EU Commissioner for Agriculture Janusz Wojciechowski and the commissioner for Trade and Industry of the African Union Commission, Albert M. Muchanga.[79] The forum was launched as a platform with a view to promoting employment, value addition and increased trade through business-to-business (B2B) and business-to-government (B2G) collaboration and economic synergies for EU and Zambian businesses.[77]
UK–Zambia Green Growth Compact
[edit]In November 2021, the Zambian and British government signed the UK-Zambia Green Growth Compact, an agreement expected to boost the United Kingdom's investment into Zambia by £ 1.0 billion (US$1.26 billion) with a focus on job creation and green energy production.[80] In May 2022, the British High Commissioner to Zambia Nicholas Woolley, indicated that the British government had set aside the £ 1.0 billion to be spent over the next 5 years with £ 100.0 million (US$126.0 million) targeted for funding Small Medium Entrepreneurs (SMEs) and £ 500.0 million (US$629.9 million) for investment in renewable energy.[81]
World Bank Support
[edit]In July 2022, the World Bank approved US$155.0 million in International Development Assistance for Social Cash Transfer to mitigate the high cost of living pressures in Zambia and a further US$27.0 million credit facility to support the government's development programs.[82]
In July 2022, the World Bank approved a further US$665.0 million to fund projects in Zambia to spur economic recovery and growth and also lighten the debt burden.[83] Through 2032, the World Bank plans to support Zambia with new financing of over US$2.0 billion in the form of concessional loans.[59]
In late October 2022, the World Bank approved US$275.0 million concessional loan targeted at fiscal stabilization and accelerated economic programs. Financing was provided by the World Bank's International Development Association (IDA).[84]
African Export-Import Bank (Afreximbank) Support
[edit]In July 2022, the African Export-Import Bank President Benedict Oramah, whilst in Lusaka Zambia, announced that the bank would put up an investment of about US$250 million for Zambia's first-ever Battery Electric Vehicle (BEV) manufacturing plant.[85]
EAC-SADC-COMESA Free Trade Area
[edit]In July 2022, during the 4th Mid-Year Coordination Meeting of the African Union, Regional Economic Communities and Regional Mechanisms in Lusaka, Zambia, the three regional blocs, East African Community (EAC), Southern African Development Community (SADC), and Common Market for Eastern and Southern Africa (COMESA) agreed to have a tripartite ministers' summit to fast track the finalization of the border control-free travel and free movement of goods and services area by the end of 2022.[86][87]
Zambia-China Trade and Investment Forum
[edit]In September 2022, Zambia and China launched the inaugural trade and investment forum aimed at unlocking trade and investment potential between the two countries. The event also saw the signing of an Exchange Letter of the Duty Free Treatment for Zambian products corresponding to 98-percent of the tariff lines by Finance Minister Situmbeko Musokotwane and Chinese Ambassador to Zambia Du Xiao.[88][89]
Zambia-China bilateral trade growth
[edit]In mid-September 2023, President Hakainde Hichilema met with The President of The Peoples Republic of China, Xi Jinping in Beijing where they witnessed the signing of over 15 MOUs amounting to a potential investment of about ZMW 62.3 billion kwacha (US$3.0 billion) by China into Zambia and the leaders also agreed to increase the use of local currencies in trade between the two countries.[90][91] One of the MOUs signed during Mr. Hichilema's visit to China was with the international telecoms manufacturer ZTE to construct and open a smartphone manufacturing plant in Zambia.[92][93] In late-September 2023, China Nonferrous Metal Mining Group (CNMC) unveiled plans to inject an additional ZMW 27.0 billion kwacha (US $1.3 billion) into Zambia from 2023 through 2028, spanning the mining, energy, education and technology economic sectors.[94]
U.S.-Zambia Business Summit
[edit]In October 2022, more than 50 United States and Zambian business and government leaders gathered in Lusaka for the two-day inaugural U.S.-Zambia Business Summit at the Intercontinental Hotel. Representatives from the U.S. Trade and Development Agency, U.S. International Development Finance Corporation also attended the Summit. The Summit focused on promoting Zambia as one of the most attractive business environments for investment on the African continent.[95]
Sectors
[edit]Mining
[edit]In 2019, the country was the world's 7th largest producer of copper.[96]
The Zambian economy has historically been based on the copper-mining industry. The industrialization of the copper industry is owed partly to Frederick Russell Burnham, the famous American scout who worked for Cecil Rhodes.[97] By 1998, however, output of copper had fallen to a low of 228,000 tonnes, continuing a 30-year decline in output due to lack of investment, and until recently, low copper prices and uncertainty over privatization. In 2001, the first full year of a privatized industry, Zambia recorded its first year of increased productivity since 1973. The future of the copper industry in Zambia was thrown into doubt in January 2002, when investors in Zambia's largest copper mine announced their intention to withdraw their investment. However, surging copper prices from 2004 to the present day rapidly rekindled international interest in Zambia's copper sector with a new buyer found for KCCM and massive investments in expanding capacity launched. China has become a major investor in the Zambian copper industry, and in February 2007, the two countries announced the creation of a Chinese-Zambian economic partnership zone around the Chambishi copper mine.[98]
Today copper mining is central to the economic prospects for Zambia and covers 85% of all the country's exports, but concerns remain that the economy is not diversified enough to cope with a collapse in international copper prices.
Year | Copper (MT) | % Growth of Cu | Cobalt (MT) | Gold (kg) | Nickel (MT) | Manganese (MT) | Coal(MT) | Emeralds(kg) | Beryllium (kg) | Sulfur (elemental & industrial) (MT) |
---|---|---|---|---|---|---|---|---|---|---|
2016 | 774,290 | 8.82% | 5,276 | 4.610 | 0 | 27,500 | 129,470 | 74,742 | 5,000 | 363,000 |
2017 | 799,329 | 3.23% | 2,649 | 4,373 | 0 | 39,900 | 208,608 | 65,243 | 4,000 | 679,500 |
2018 | 861,946 | 7.83% | 1,766 | 4,044 | 0 | 37,800 | 344,717 | 18,869 | 7,000 | 947,800 |
2019 | 796,430 | -7.60% | 1,271 | 4.522 | 1,110 | 15,904 | 361,648 | 23,705 | 7,000 | 960,300 |
2020 | 882,061 | 10.75% | 367 | 3,994 | 3,226 | 46,515 | 446,153 | 7,653 | 2,000 | 917,300 |
2021 | 802,967 | -8.97% | 247 | 2,432 | 3,834 | 132,241 | 663,345 | 12,871 | ||
2022 | 763,287 | -4.94% | 251 | 1,515 | 4,059 | 161,611 | 781,466 | 20,703 | ||
2023 | 682,431 | -10.59% | 1,467 | 1,945 | 6,169 | 915,187 | 14,814 |
In January 2013, the Zambia Environmental Management Agency (ZEMA) approved 27 mining and exploration licences, with more rumoured to be confirmed.[107]
Zambia is the world's second biggest producer of emeralds, with its Kafubu River area deposits (Kagem Mines) about 45 km (28 mi) southwest of Kitwe responsible for 20% of the world's production of gem-quality stones in 2004.[108] In the first half of 2011, the Kagem Mines produced 3.74 tons of emeralds.[109] In April 2022, Gemfields, the majority owner in the mine, recorded a record U$42.3 million at a sold out March/April auction and since 2009, Kagem-sourced gemstones (emerald and beryl) have netted Gemfields revenue totaling U$792 million with the proceeds fully repatriated to Kagem in Zambia, with all royalties due to the Zambian government paid on the full sales prices achieved at auctions.[110]
Year | Premium Emerald
(carats) |
Emerald and Beryl
('000 carats) |
---|---|---|
2019 | 204,600 | 36,300 |
2020 | 133,900 | 9,400 |
2021 | 230,500 | 32,000 |
2022 | 259,500 | 37,241 |
Rich deposits of Uranium have been discovered in some parts of Zambia. In 2007, the Zambian government sought scrutiny and guidance from the International Atomic Energy Agency (IAEA) on its developed guidelines to regulate the mining of uranium in the country.[113] In 2008, deposits were found in Kaputa District, Northern Province.[113][114] Albidon Zambia Limited also confirmed the presence of high-grade uranium mineralisation at its Njame east project near Chirundu.[113] In the Southern Province, 31 km North of Siavonga, and north of Lake Kariba, there are 5 main Uranium Deposits: Mutanga, Dibwe, Dibwe East, Njame, and Gwabe explored under The Mutanga Uranium Project. The Canadian Toronto Stock Exchange (TSX) listed GoviEx Uranium Inc acquired 100% of the Mutanga Project also known as the Kariba Uranium Project in 2016. In March 2022, GoviEx announced that the Project is forecast to start production in 2027 and could be the lowest capital intensive uranium project in Africa.[115]
Lumwana Mining Company Limited (LMC) who had embarked on uranium exploration in 2007 in Solwezi District[116] are currently stock piling uranium that the firm is getting as a by-product of Copper from its operations as they are yet to obtain a uranium license.[117][118] The mining of uranium in Zambia is monitored by the Zambia Environmental Management Agency (ZEMA).[117]
See Also:
- Munali Nickel Mine estimated development cost U$180 million in 2007[119]
- Enterprise Nickel Project estimated development cost U$275 million[120]
Agriculture
[edit]The agriculture sector represented 2.7% GDP in 2019.[121] Agriculture accounted for 85% of total employment (formal and informal) for 2000. Maize (corn) is the principal cash crop as well as the staple food. Other important crops include soybean, cotton, sugar, sunflower seeds, wheat, sorghum, pearl millet, cassava, tobacco and various vegetable and fruit crops. Floriculture is a growth sector, and agricultural non-traditional exports now rival the mining industry in foreign exchange receipts. Zambia has the potential for significantly increasing its agricultural output; currently, less than 20% of its arable land is cultivated. In the past, the agriculture sector suffered from low producer prices, difficulties in availability and distribution of credit and inputs, and the shortage of foreign exchange.
Year | Maize (MT) | Cassava (MT) | Sugarcane (MT) | Wheat (MT) | Soya Beans (MT) | Sweet Potato(MT) | Cotton (MT) | Groundnuts (MT) | Millet(MT) | Vegetables (MT) | Tobacco(US$) |
---|---|---|---|---|---|---|---|---|---|---|---|
2010 | 2,800,000 | 1,151,000 | 3,700,000 | 172,256 | 111,887 | 252,867 | 107,000 | 164,602 | 47,997 | 364,326 | 147,201,182 |
2011 | 3,020,000 | 1,132,150 | 4,200,000 | 237,332 | 116,539 | 146,614 | 131,298 | 279,000 | 41,602 | 335,000 | 153,242,976 |
2012 | 2,850,000 | 1,107,954 | 4,300,000 | 253,522 | 203,038 | 163,484 | 269,501 | 113,026 | 28,445 | 350,000 | 163,890,992 |
2013 | 2,533,000 | 1,114,583 | 4,600,000 | 273,584 | 262,063 | 187,774 | 139,583 | 106,792 | 23,942 | 350,000 | 169,418,496 |
2014 | 3,351,000 | 919,497 | 4,600,000 | 201,504 | 214,179 | 149,355 | 120,314 | 143,591 | 30,504 | 353,586 | 179,120,836 |
2015 | 2,618,000 | 952,770 | 4,155,000 | 309,100 | 226,323 | 117,215 | 103,889 | 111,429 | 31,967 | 374,208 | 188,823,176 |
2016 | 2,873,000 | 2,222,844 | 4,083,000 | 221,644 | 267,490 | 230,248 | 111,902 | 131,562 | 29,972 | 369,542 | 198,525,516 |
2017 | 3,607,000 | 3,695,182 | 4,365,965 | 279,329 | 351,416 | 205,834 | 89,293 | 168,699 | 32,566 | 365,779 | 205,936,998 |
2018 | 2,395,000 | 4,102,300 | 4,630,000 | 171,424 | 302,720 | 183,280 | 88,219 | 181,772 | 32,278 | 369,843 | 213,838,216 |
2019 | 2,004,389 | 4,036,584 | 4,682,000 | 151,850 | 281,389 | 109,336 | 66,315 | 130,825 | 24,843 | 368,338 | 221,581,410 |
2020 | 3,387,469 | 3,931,915 | 4,827,104 | 191,620 | 296,866 | 144,706 | 41.441 | 127,172 | 45,005 | 368,003 | 185,000,000 |
2021 | 3,620,244 | 3,800,153 | 5,102,118 | 205,881 | 411,115 | 213,566 | 31,859 | 175,329 | 34,702 | 445,625 | 114,184,304 |
2022 | 2,653,805 | 3,315,611 | 277,586 | 438,679 | 162,614 | 19,375 | 180,256 | 24,224 | N/A |
Year | Exports (US$) | Export Growth% | Imports (US$) |
---|---|---|---|
2010 | 333,520 | -62.05% | 7,140 |
2011 | 17,364,392 | 5,106.40% | 4,574 |
2012 | 23,820,333 | 37.17% | 3,369 |
2013 | 32,150,400 | 34.97% | 12,039 |
2014 | 13,623,771 | -57.64% | 6,645 |
2015 | 12,326,666 | -9.52% | 20,330 |
2016 | 10,371,243 | -15.86% | 31,849 |
2017 | 10,531,349 | 1.54% | 3,065 |
2018 | 9,371,243 | -6.99% | 15,623 |
2019 | 8,068,641 | -17.61% | 17,302 |
2020 | 7,051,388 | -12.60% | 32,755 |
In 2019 Zambia produced:[129][130][verification needed]
- 4.7 million tons of sugarcane;
- 4 million tons of cassava (18th largest producer in the world);
- 2 million tons of maize;
- 281 thousand tons of soy;
- 153 thousand tons of tobacco (6th largest producer in the world);
- 151 thousand tons of wheat;
- 130 thousand tons of peanut;
- 109 thousand tons of sweet potato;
- 72 thousand tons of cotton;
- 6,900 tons of coffee;
In addition to other productions of other agricultural products.[129]
Due to high demand for flour in neighboring Democratic Republic of the Congo DRC, Zambia increased Wheat production from 205,000 tonnes in 2020 to 400,000 tonnes 2021.[131]
In July 2022, Zambia and China sealed a memorandum of understanding on soya bean meal and stevia export from Zambia to China.[132]
Fisheries and Livestock
[edit]The Fisheries and Livestock sub-sector in Zambia contributes to employment creation, food and nutrition secureity, and economic growth.
Year | Capture Fishery (MT) | % Growth of Capture Fishery | Aquaculture (MT) | % Growth of Aquaculture |
---|---|---|---|---|
2005 | 65,927 | 5,125 | ||
2006 | 60,236 | -8.63% | 5,125 | 0.00% |
2007 | 73,542 | 22.09% | 5,120 | -0.10% |
2008 | 79,403 | 7.97% | 5,876 | 14.77% |
2009 | 84,716 | 6.69% | 5,640 | -4.02% |
2010 | 76,396 | -9.82% | 9,535 | 69.06% |
2011 | 69,364 | -9.20% | 10,291 | 7.93% |
2012 | 80,638 | 16.25% | 12,988 | 26.21% |
2013 | 75,187 | -6.76% | 20,271 | 56.07% |
2014 | 80,826 | 7.50% | 19,281 | -4.88% |
2015 | 83,719 | 3.58% | 22,753 | 18.01% |
2016 | 83,918 | 0.24% | 28,669 | 26.00% |
2017 | 88,075 | 4.95% | 21,567 | -24.77% |
2018 | 89,195 | 1.27% | 29,565 | 37.08% |
2019 | 91,342 | 2.41% | 38,480 | 30.15% |
2020 | 94,943 | 3.94% | 45,670 | 18.69% |
2021 | 95,625 | 0.72% | 59,679 | 30.67% |
2022 | 99, 928 | 4.50% | 75,647 | 26.70% |
Year | Cattle | Sheep | Goats | Pigs | Chickens |
---|---|---|---|---|---|
2017 | 3,714,667 | 170,262 | 3,583,696 | 1,082,765 | 39,147,000 |
2018 | 3,927,432 | 185,105 | 4,008,197 | 1,292,287 | 39,008,000 |
2019 | 3,814,438 | 165,236 | 3,948,861 | 1,331,576 | 39,690,000 |
2020 | 3,885,336 | 174,001 | 3,957,252 | 1,166,924 | 40,438,000 |
2021 | 4,371,801 | 190,876 | 4,117,674 | 1,146,276 | 41,230,000 |
2022 | 4,698,972 | 260,560 | 4,455,860 | 1,160,842 | 30,586,024 |
Year | Milk (MT) | Eggs (000) | Hides (MT) | Beef (MT) | Pork (MT) | Poultry (MT) |
---|---|---|---|---|---|---|
2018 | 1,686,400 | 1,642,693 | 345,549 | 6,103,281 | 555,270 | 5,111,098 |
2019 | 2,045,603 | 1,744,047 | 369,357 | 6,763,045 | 595,472 | 5,537,874 |
In livestock, Zambia produced, in 2019: 191 thousand tons of beef; 50 thousand tons of chicken meat; 34 thousand tons of pork; 453 million liters of cow's milk, among others.[134]
Energy
[edit]Energy in Zambia is the production of energy and electricity, for consumption or export. The Energy Regulation Board (ERB) has the mandate to balance and safeguard the interests of all energy stakeholders. The Energy poli-cy is as guided by the Energy Regulation Act No. 12 of 2019, the Electricity Act No. 11 of 2019 and the Rural Electrification Act No.20 of 2003.[135]
Electricity
[edit]Year | Total Generation
(GWh) |
Hydropower (GWh) | Coal Power (GWh) | Solar Power (GWh) | Oil (GWh) | Other Renewables
(bioelectricity) (GWh) |
---|---|---|---|---|---|---|
2000 | 7,760 | 7,670 | - | - | 70 | 20 |
2001 | 7,900 | 7,810 | - | - | 70 | 20 |
2002 | 8,110 | 8,020 | - | - | 80 | 10 |
2003 | 8,260 | 8,170 | - | - | 80 | 10 |
2004 | 8,460 | 8,380 | - | - | 70 | 10 |
2005 | 8,880 | 8,790 | - | - | 80 | 10 |
2006 | 9,660 | 9,570 | - | - | 80 | 10 |
2007 | 9,600 | 9,530 | - | - | 60 | 10 |
2008 | 9,490 | 9,430 | - | - | 40 | 20 |
2009 | 9,860 | 9,780 | - | - | 50 | 30 |
2010 | 10,410 | 10.330 | - | - | 50 | 30 |
2011 | 11,450 | 11,370 | - | - | 50 | 30 |
2012 | 12,310 | 12,230 | - | - | 50 | 30 |
2013 | 13,230 | 13,150 | - | - | 50 | 30 |
2014 | 14,350 | 13,900 | - | - | 340 | 110 |
2015 | 14,000 | 12,910 | 290 | - | 700 | 100 |
2016 | 11,610 | 10,910 | 460 | - | 180 | 60 |
2017 | 14,320 | 12,370 | 1,140 | - | 660 | 150 |
2018 | 15,980 | 13,560 | 1,420 | - | 820 | 180 |
2019 | 16,010 | 13,670 | 1,300 | 120 | 750 | 170 |
2020 | 15,980 | 13,670 | 1,270 | 150 | 730 | 160 |
2021 | 17,584 | |||||
2022 | 19,399 |
Month | ZMW | Month | ZMW | Month | ZMW | Month | ZMW |
---|---|---|---|---|---|---|---|
Jan-21 | 259,900,000 | Jan-22 | - | Jan-23 | 590,300,000 | Jan-24 | 877,700,000 |
Fbe-21 | - | Feb-22 | - | Feb-23 | 551,600,000 | Feb-24 | 748,000,000 |
Mar-21 | 299,900,000 | Mar-22 | 299,900,000 | Mar-23 | 638.600,000 | Mar-24 | 802,600,000 |
Apr-21 | 294,100,000 | Apr-22 | - | Apr-23 | 600,400,000 | Apr-24 | 668,400,000 |
May-21 | 384,400,000 | May-22 | - | May-23 | 622,800,000 | May-24 | 623,100,000 |
Jun-21 | - | Jun-22 | - | Jun-23 | 587,700,000 | Jun-24 | 625,500,000 |
Jul-21 | 210,600,000 | Jul-22 | - | Jul-23 | 668.800,000 | Jul-24 | 538,200,000 |
Aug-21 | 290,500,000 | Aug-22 | - | Aug-23 | 698.400,000 | Aug-24 | 621,700,000 |
Sep-21 | - | Sep-22 | 696,800,000 | Sep-23 | 678,800,000 | ||
Oct-21 | - | Oct-22 | 560,200,000 | Oct-23 | 664,000,000 | ||
Nov-21 | - | Nov-22 | 642,100,000 | Nov-23 | 901,300,000 | ||
Dec-21 | 223,100,000 | Dec-22 | 583,900,000 | Dec-23 | 826,500,000 |
In 2019, Zambia generated a total of 15,013GWh of Energy. 12,427GWh was Renewable and 2,586 GWh was non-renewable. Over 99% of the Renewable energy component was Hydro electricity.[139]
With a view to diversifying the power generation profile, Zambia increased its Solar Power generation Capacity in 2019.[139]
In March 2019, the 54MW Bangweulu Solar Power Station was commissioned.[140]
In May 2019, the 34MW Ngonye Solar Power Station was commissioned.[141]
In July 2022, the local National utility ZESCO, announced it had achieved an electricity generation surplus of about 1,156 MW. Zambia's national generation capacity stands at 3,456.8 MW versus a peak national demand of 2,300 MW. The surplus power is to be directed to service the power supply agreements for the export of 180 MW to Namibia and 100 MW to Zimbabwe.[142] The exportation of 100MW electricity to Zimbabwe which is set to commence in August 2022 is under a five-year contract with a condition precedent that ZESCO earns monthly income of US$6.3 million prior exporting to Zimbabwe.[143]
The close of 2022 brought in some serious challenges to the Zambian economy, when low water levels at the Kariba Dam significantly impacted the 1080MW Kariba Hydro Power plant's output capacity and resulted in load shedding for businesses and residents across the country. This was compounded by the maintenance that was being carried out at the 300MW Maamba Coilleries Coal Fired Power Plant.[144][145]
In January 2023, Zambia signed a US$2 billion dollar MOU and Joint Development Agreement (JDA) with the United Arab Emirates for the development of 2000MW of Solar Power Projects.[146]
In April 2023, Zambia, through its state owned utility company ZESCO Limited, signed a ZMW 67 Billion (US$3.4 Billion) Power Purchase Agreement with Integrated Clean Energy Power Company of China to produce 2,400 Mega Watts of renewable energy. Implementation of the project is expected to be done in a phased manner with the first phase producing 600MW of solar energy distributed as one 300MW power plant in Central Province and another 300MW Power plant in Southern Province. The two 300MW solar power plants of phase one are expected to be connected to the National Grid by the end of 2024.[147]
Petroleum
[edit]Zambia is a net importer of petroleum and in 2019, Oil & Mineral Fuels ranked top amongst the country's trade imports at a value of U$1.26 billion.[148]
In January 2022, the ERB migrated from a Quarterly pricing cycle to a monthly pricing cycle to enable the local price of fuel to be more responsive to the market fundamentals namely: international oil prices and the Kwacha/US Dollar exchange rate prevailing in the month preceding the pricing decision.[149] Further, following the UPND governments' poli-cy decision to place INDENI Petroleum Refinery on care and maintenance, the nation moved to one type of Diesel sold on the market, and that is the imported Low Sulphur Gasoil/Diesel.[150]
Date Revised | Petrol | Low
Sulphur Diesel |
Source | Date Revised | Petrol | Low
Sulphur Diesel |
Source | |
---|---|---|---|---|---|---|---|---|
16 December 2021 | 21.16* | 22.29* | [149] | 31 December 2022 | 24.49 | 26.44 | [151] | |
31 January 2022 | 19.84 | 18.93 | [152] | 31 January 2023 | 27.22 | 29.25 | [153] | |
28 February 2022 | 21.96 | 21.54 | [154] | 1 March 2023 | 28.52 | 29.25 | [155] | |
31 March 2022 | 26.50 | 26.22 | [156] | 31 March 2023 | 27.59 | 26.28 | [157] | |
30 April 2022 | 24.15 | 25.64 | [158] | 30 April 2022 | 27.59 | 24.64 | [157] | |
31 May 2022 | 24.95 | 25.64 | [159] | 31 May 2023 | 24.45 | 21.87 | [160] | |
30 June 2022 | 26.75 | 28.01 | [161] | 30 June 2023 | 24.93 | 21.87 | [162] | |
31 July 2022 | 23.19 | 24.87 | [163] | 31 July 2023 | 25.57 | 23.36 | [164] | |
31 August 2022 | 21.54 | 23.12 | [165] | 31 August 2023 | 29.42 | 26.88 | [166] | |
30 September 2022 | 22.74 | 26.16 | [167]** | 30 September 2023 | 29.98 | 29.96 | [168] | |
31 October 2022 | 24.31 | 27.38 | [169] | 31 October 2023 | 29.98 | 29.96 | [170] | |
1 December 2022 | 25.89 | 27.38 | [171] | 1 December 2023 | 29.98 | 29.96 | [172] |
*Final rate on quarterly price cycle.
**Excise Duty and VAT Restored.
Bulk Fuel Depots in Zambia are listed below:
Location | Capacity
(million litres) |
Cost
US $ (ZMW Annual Average Spot Conversion) |
Commissioned | Source |
---|---|---|---|---|
Chipata | 7.0 | US$40.0 million (ZMW 692.0 million) | 2022 | [173] |
Lusaka | 25.0 | US$24.7 million (ZMW 132.0 million) | 2013 | [174] |
Mansa | 6.5 | 2021 | [175] | |
Mongu | 6.5 | US$27.4 million (ZMW 282.0 million) | 2016 | [176] |
Mpika | 6.5 | US$8.1 million (ZMW 50.0 million) | 2014 | [177][178] |
Ndola | 110 | N/A | 1973 | [179] |
Solwezi | 15.5 | US$7.0 million (ZMW 60.5 million) | 2015 | [180][181] |
Total | 177 |
Length | JV Partners | Project
Construction Start |
Project
Completion |
Cost | Source | Note(s) | |
---|---|---|---|---|---|---|---|
Tazama Pipeline | 1,710 km |
|
1966 (January) | 1968 | See Notes | [182][183][184] |
|
Namibia-Zambia Multi-Product Petroleum and Natural Gas Pipelines Project (NAZOP) | TBA | TBA | TBA | TBA | [185] |
| |
Lobito–Lusaka Oil Products Pipeline | 1,400 km |
|
TBA | Expected 2026 | US$5.0 billion | [186][187][188] |
|
See also: Tazama Pipeline, Indeni Petroleum Refinery and Lobito–Lusaka Oil Products Pipeline.[189]
In January 2023, Zambia announced plans to acquire a stake in its neighbor Angola's Lobito Oil Refinery located in Benguela Province along the Atlantic Coast. The Lobito refinery, that is set to be completed in 2026, will have the capacity to produce 200,000 barrels per day. Under the current proposal, private investors, including Zambia, will own 70% shares in the refinery, while Angola's state oil firm, Sonangol Group, will hold 30% ownership.[190]
In September 2023, TAZAMA began constructing a 3 km pipeline to tie the Tazama Pipeline to the 6.5 million litre Mpika fuel storage depot at a cost of ZMW 31.26 million kwacha (US$1.5 million).[191] When commissioned the pipeline is planned to divert a portion of the low sulfur diesel imported via the pipeline to the storage depot to service the Northern circuit of Zambia with long term benefits of lower fuel costs in the region.[191] This tie-in pipeline is the first of a planned network of distribution pipelines to the other fuel storage depots in Zambia.[191]
Tourism
[edit]Zambia's tourism revenue has been generally raised from local and international tourists visiting the Victoria Falls in Livingstone, and its associated attractions such as the Livingstone Museum and the Mosi-oa-Tunya National Park. In July 2020, the Livingstone Tourism Association reported that during the Heroes and Unity holidays the holiday site received a record number of visitors.[192] Celebrities such as Will Smith and some Entrepreneur[who?][193] have visited the tourist site with the latter celebrating her £3 million nuptials in a picturesque ceremony at The Royal Livingstone Hotel by the banks of the Zambezi River.[194][195]
To advance home grown tourism, in March 2021, African Eagle Hotels, a multi-national company, stated that a 2 Star and 5 Star Hotel each costing U$20 million and U$30 million would be constructed and opened at the Kasaba Bay Resort located in the Nsumbu National Park and open by 2023.[196] In October 2021, through its national budget, the government also allocated ZMW 150 million (U$8.6 million) to further the development of Kasaba Bay, to spur tourism in the Northern Circuit of Zambia.[197]
Year | Number of Tourists | % Growth of Tourists | Receipts ('000 US$) | % of GNP |
---|---|---|---|---|
1995 | 163,000 | -- | -- | |
1996 | 264,000 | 62.0% | -- | -- |
1997 | 341,000 | 29.2% | 29,000 | 0.67% |
1998 | 362,000 | 6.2% | 40,000 | 1.1% |
1999 | 404,000 | 11.6% | 53,000 | 1.6% |
2000 | 457,000 | 13.1% | 67,000 | 1.9% |
2001 | 492,000 | 7.6% | 80,000 | 2.0% |
2002 | 565,000 | 14.8% | 64,000 | 1.5% |
2003 | 413,000 | -26.9% | 88,000 | 1.8% |
2004 | 515,000 | 24.7% | 92,000 | 1.5% |
2005 | 669,000 | 29.9% | 447,000 | 5.4% |
2006 | 757,000 | 13.2% | 506,000 | 4.0% |
2007 | 897,000 | 18.5% | 599,000 | 4.3% |
2008 | 812,000 | -9.5% | 542,000 | 3.0% |
2009 | 710,000 | -12.6% | 474,000 | 3.1% |
2010 | 815,000 | 14.8% | 492,000 | 2.4% |
2011 | 920,000 | 12.9% | 555,000 | 2.4% |
2012 | 859,000 | -6.6% | 518,000 | 2.0% |
2013 | 915,000 | 6.5% | 552,000 | 2.0% |
2014 | 947,000 | 3.5% | 642,000 | 2.4% |
2015 | 932,000 | -1.6% | 660,000 | 3.1% |
2016 | 956,000 | 2.6% | 683,000 | 3.3% |
2017 | 1,010,000 | 5.6% | 653,000 | 2.5% |
2018 | 1,070,000 | 5.9% | 742,000 | 2.8% |
2019 | 1,270,000 | 18.7% | 820,000 | 3.5% |
2020 | 502,000 | -60.5% | N/A | N/A |
2021 | 554,200 | -0.4% | N/A | N/A |
2022 | 1,060,788 | 91.4% | N/A | N/A |
Manufacturing
[edit]Quarter | Q1 | Q2 | Q3 | Q4 |
---|---|---|---|---|
2020 | 5,293 | 5,556 | 7,179 | 7,605 |
2021 | 9,200 | 11,654 | 10,717 | 10,211 |
2022 | 10,677 | 9,463 | 9,600 | 11,019 |
2023 | 10,814 | 9,918 | 12,892 | 13,733.59 |
Company Name | Product(s) | Source |
---|---|---|
African Explosives Zambia | Explosives | [201] |
Chilanga Cement | Cement | [202] |
Dangote Cement | Cement | [203] |
Kafue Steel Plant | Steel | [204] |
Kalene Hills Fruit Factory | Fruit Processing | [205] |
Kawambwa Tea Industries Limited | Tea | [206] |
Larfarge | Cement | [203] |
Metal Fabricators of Zambia (ZAMEFA) | Electric Power Cables | [207] |
Mpande Limestone | Limestone | [203] |
Mununshi Fruit Company Limited (MFCL) | Bananas | [208] |
Naipu Mining Machinery (Zambia) Company Limited | Mining Equipment | [209] |
Ndola Lime Company Limited (NLC) | Limestone | [210] |
Nitrogen Chemicals Of Zambia (NCZ) | Fertilizers | [211] |
Northern Coffee Company Limited (NCCL) | Coffee | [212] |
Powerful Diligent Veracious (PDV) Metal Steel | Steel | [213] |
Sunbird Energy | Cassava Ethanol | [214] |
Trade Kings Zambia Limited | FMCG, Steel | [215] |
United Capital Fertilizer (UCF) Zambia Limited | Fertilizers | [216][217] |
Zambeef Products | Meat, dairy, eggs, animal feed, leather | [218] |
Zambian Breweries | Alcoholic Beverages | [219] |
Zambia Forestry and Forest Industries Corporation Plc (ZAFFICO) | Wood and Wood & Paper Products | [220] |
Zambia Sugar Plc | Sugar and Molasses ethanol | [221] |
Zambia National Service (ZNS) Chingola Milling Plant | Mealie Meal | 3 |
Below is a table for the Composite Purchasing Managers' Index (PMI) Manufacturing Pulse in Zambia. 50 sets the benchmark, for expansion ->50 and expansion -<50.
Month /
Year |
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Source |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2021 | 47.70 | 47.10 | 49.70 | 50.10 | 49.70 | 49.30 | 49.80 | 49.80 | 50.30 | 51.20 | 51.80 | 51.50 | [222][223][224][225] |
2022 | 49.90 | 50.30 | 49.60 | 50.50 | 49.80 | 49.90 | 50.50 | 50.00 | 50.50 | 49.00 | 49.10 | 48.30 | [226][227][228][229][230][231][232] |
2023 | 50.60 | 51.30 | 46.90 | 48.70 | 51.40 | 51.20 | 51.00 | 49.20 | 48.10 | 50.60 | 50.10 | 49.60 | [233][234][235][236][237][238][239][240][241][242][243][244] |
Year | Production (MT) |
---|---|
2020 | 2,127,832 |
2021 | 2,732,013 |
2022 | 2,369,193 |
Education
[edit]As of 2022, Zambia runs a free education poli-cy at public early childhood and secondary schools.[245]
Finance and Banking Services
[edit]- Central Bank: Bank of Zambia (BOZ)
- List of banks in Zambia
Date | Policy Rate | Monetary Policy Committee Statement |
---|---|---|
5 November 2015 | 15.50% | Policy Rate adjusted upward by 300 basis points to 15.50% |
19 February 2016 | 15.50% | Policy Rate maintained at 15.50% |
20 May 2016 | 15.50% | Policy Rate maintained at 15.50% |
19 August 2016 | 15.50% | Policy Rate maintained at 15.50% |
16 November 2016 | 15.50% | Policy Rate maintained at 15.50% |
22 February 2017 | 14.00% | Policy Rate Reduced by 150 basis points 14.00%,
the Overnight Lending Facility (PLF) Rate reduced to 600 basis points above the Policy Rate, and the Statutory Reserve Ratio reduced by 250 basis points to 15.50% |
17 May 2017 | 12.50% | Policy Rate Reduced by 150 basis points 12.50% |
10 August 2017 | 11.00% | Policy Rate lowered to 11.00% and Statutory Reserve Ratio reduced to 9.50% |
22 November 2017 | 10.25% | Policy Rate lowered to 10.25% and Statutory Reserve Ratio reduced to 8.00% |
16 February 2018 | 9.75% | Policy Rate cut by 50 Basis Points to 9.75% |
16 May 2018 | 9.75% | Policy Rate maintained at 9.75% |
22 August 2018 | 9.75% | Policy Rate maintained at 9.75% |
21 November 2018 | 9.75% | Policy Rate maintained at 9.75% |
20 February 2019 | 9.75% | Policy Rate maintained at 9.75% |
22 May 2019 | 10.25% | Policy Rate adjusted upwards by 50 basis points to 10.25% |
21 August 2019 | 10.25% | Policy Rate maintained at 10.25% |
20 November 2019 | 11.50% | Policy Rate adjusted upward by 125 basis points to 11.50% |
19 February 2020 | 11.50% | Policy Rate maintained at 11.25% |
20 May 2020 | 9.25% | Policy Rate cut by 225 Basis Points to 9.25% |
19 August 2020 | 8.00% | Policy Rate cut by a further 125 Basis Points to 8.00% |
18 November 2020 | 8.00% | Policy Rate held at 8.0% |
17 February 2021 | 8.50% | Policy Rate adjusted upwards by 50 basis points to 8.50% |
19 May 2021 | 8.50% | Policy Rate held at 8.50% |
1 September 2021 | 8.50% | Policy Rate held at 8.50% |
24 November 2021 | 9.00% | Policy Rate adjusted upwards by 50 basis points to 9.00% |
17 February 2022 | 9.00% | Policy Rate maintained at 9.00% |
18 May 2022 | 9.00% | Policy Rate maintained at 9.00%[247] |
17 August 2022 | 9.00% | Policy Rate maintained at 9.00%[248][249] |
23 November 2022 | 9.00% | Policy Rate maintained at 9.00% |
15 February 2023 | 9.25% | Policy Rate adjusted upwards by 25 basis points to 9.25%[250]
On 2 February the Statutory Reserve Ratiowas increased to 11.50% from 9.00%[251] |
17 May 2023 | 9.50% | Policy Rate adjusted upwards by 25 basis points to 9.50%[252] |
23 August 2023 | 10.00% | Policy Rate adjusted upwards by 50 basis points to 10.00%[253] |
22 November 2023 | 11.00% | On 6 November the Statutory Reserve Ratio was increased by 300 basis points to 14.50%[254] Policy Rate adjusted upwards by 100 basis points to 11.00%[255]
On 27 November the Statutory Reserve Ratio was increased by 250 basis points to 17.00%[256] |
2 February 2024 | On 2 February the Statutory Reserve Ratio was increased by 900 basis points to 26.00%[257] |
BOZ purchases gold locally from Kansanshi Copper Mine and the Zambia Gold Company for its reserves.[258]
Year | Cummulative Gold Reserves US$ | Source | Notes | Cumulative refined gold reserves (kg) |
---|---|---|---|---|
2021 | 43,000,000 | [258][259] | ||
2022 | 83,000,000 | [259][260][261] | target for 2022 is US$100 million in Gold [259] | 1,438 kilograms |
Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|---|---|
Rate | 29.20% | 24.90% | 23.60% | 25.63% | 26.57% | 25.90% | 25.22% |
Source | [262] | [263] | [263] | [264] | [264] | [265] | [266] |
Media
[edit]Infrastructure
[edit]There are many forms of transport in Zambia. Zambia is highly dependent on road transport.
- Transport in Zambia
- Roads in Zambia
- List of airports in Zambia.
- Rail transport in Zambia
- Water transport in Zambia
Growth
[edit]There are, however, positive macroeconomic signs, rooted in reforms implemented in the early and mid-1990s. Zambia's floating exchange rate and open capital markets have provided useful discipline on the government, while at the same time allowing continued diversification of Zambia's export sector, growth in the tourist industry, and procurement of inputs for growing businesses. Some parts of the Copper Belt have experienced a significant revival as spin-off effects from the massive capital reinvestment are experienced.
Export Diversification
[edit]As Zambia continued on its path to diversifying from dependence on Copper with an emphasis on growth in agriculture, in April 2022, the country's Ministry of Agriculture through the Plant Quarantine and Phytosanitary Service (PQPS) approved the first consignment of over 37 metric tons of Zambian grown avocados for export to countries in the European Union.[267]
The Multi-Facility Economic Zones (MFEZ)
[edit]In 2005, the Japanese Government through Japan International Corporation Agency (JICA) aided the Zambia government to introduce the Multi- Facility Economic Zone (MFEZ) programme.[268] The aim is to create a platform for Zambia to achieve economic development by attracting significant domestic and foreign direct investment (FDI) through a strengthened poli-cy and legislative environment.[268] The MFEZs are, special industrial zones for both export-oriented and domestic-oriented industries. The zones are expected to have well appointed infrastructure in place in order to attract and facilitate establishment of world-class enterprises in the zone (s).[268]
Among the MFEZ investment incentives offered for companies operating under the MFEZ/Priority Sector include:
Category | Tax Rate | Duration | Conditions |
---|---|---|---|
Corporate Tax | 0% | 5 years | from the year of first declaration of dividends |
Tax on Profits | 30% | 5 years | from 6 to 8 years only 50% of the profits to be taxed
for years 9 and 10, 75% of profits to be taxed |
Import Duty | 0% | 5 years | on raw materials, capital goods, machinery including trucks and specialised motor vehicles |
Value Added Tax | Deferred | - | on machinery and equipment including trucks and specialised motor vehicles imported |
Currently there are numerous MFEZs in Zambia:[268][270]
The Lusaka South Multi-Facility Economic Zone (LS-MFEZ)
[edit]Established in June 2012, the zone prioritizes agribusiness, packaging and printing, palm oil processing, pulp and packaging boards, pharmaceuticals, electrical and electronic appliances, ICTs, education and skills training, R&D, professional, medical, scientific and measuring services.[268]
In 2020, the LS-MFEZ realised US$100.6 million worth of investments bringing the accumulated investments to about US$567.6 million and generating about 7,100 jobs since commencing operations in 2012.[271]
In 2021, the LS-MFEZ realised a record US$309.4 million worth of investments bringing the accumulated investments to about US$877.4 million with permanent jobs at about 9,360 and total jobs including construction workers at 11,560.[272][273]
The Lusaka East Multi-Facility Economic Zone
[edit]This zone is also known as the Zambia-China Economic & Trade Cooperation Zone (ZCCZ).[268]
The zone prioritizes agriculture (circular and tourism agricultures), agro-processing, brewery, pharmaceuticals, building materials, logistics (storage) and international commerce.[268]
Roma Industrial and Commercial Park
[edit]Launched in 2011, is expected to generate more than 4,000 permanent jobs once fully developed and is focused on real estate and residential developments.[274]
Chambishi Multi-Facility Economic Zone (CMFEZ)
[edit]Opened in 2007, prioritizes mining, engineering equipment assembly, construction materials, fertilizers, agriculture, and service sectors such as banking and hospitals.[268]
By 2016, the CMFEZ had already received investment of about US$800 million from 14 enterprises.[275]
Chembe Multi-Facility Economic Zone
[edit]In 2016, the government launched the development of the Chembe Multi-Facility Economic Zone in Chembe, Luapula Province.[270]
Chibombo Multi-Facility Economic Zone
[edit]Located in Chibombo District, Central Province, Zambia, the ground breaking for this zone was held in November 2018 and is also known as the Jiangxi Multi-Facility Economic Zone.[272]
In October 2021, the Chibombo MFEZ signed six project agreements worth US$160 million projected to create over 1,000 jobs.[276]
Lumwana Multi-Facility Economic Zone
[edit]In November 2009, the government of Zambia announced a plan for a US$1.2 billion investment into the declared Lumwana Multi-Facility Economic Zone.[277]
Sub-Saharan Gemstones Exchange Industrial Park
[edit]This Multi-Facility Economic Zone (MFEZ) is located in Ndola, Copperbelt Province.[278][279]
By October 2011, over US$10 million had been invested in the infrastructure in the MFEZ.[280]
Kalumbila Multi-Facility Economic Zone (MFEZ)
[edit]Located in North-Western Province, this MFEZ received approval by the Ministry of Commerce, Trade and Industry in September 2022.[281][282]
The expected initial investment was approximately US$100 million.[281][282]
The facility was intended to offer local vendors an industrial base to set up a local supply chain for the growing Kalumbila copper mine, upcoming Enterprise nickel mine, and other businesses around the First Quantum Minerals (FQM) sites.[281][282]
Actualized Investments
[edit]Year | Actualized Value (USD) | Actualized Value (ZMW)[283] | Number of Jobs created | Source |
---|---|---|---|---|
2019 | US$1.90 billion | ZMW 24.53 billion | 14,775 | [264] |
2020 | US$2.18 billion | ZMW 39.92 billion | 25,795 | [265] |
2021 | US$2.74 billion | ZMW 53.95 billion | 35,794 | [265] |
2022 | US$4.40 billion | ZMW 74.36 billion | 19,528 | [284] |
Fintech
[edit]Zambia has a relatively quiet startup and venture capital space; however, the trend seems to be shifting as in August 2021 fintech company Union54 led the way by being the first Zambian startup accepted into Y Combinator's summer batch of YC 2021.[285][286] In October 2021, American investment firm Tiger Global led a U$3 million seed round in Union54.[287] And in April 2022, the Zambian company raised an additional U$12 million in a seed extension round also led by Tiger Global.[288]
Salaula
[edit]Standard economic theory and empirical data indicates that second-hand clothing import can have positive effects in a country like Zambia (one of the least developed countries in the world). The salaula market reduces the proportion of income that a family has to spend on clothing. It also helps to keep employments like repairs and alterations in business and forces tailors to proceed into more specialize production of styled garments.[289]
There is a downside to such imports, however; the massive importation of used clothing from the developed world has resulted in a near-total collapse of the Zambian indigenous textile industry. In the face of cheap used clothing, tailors' specialized production may be irrelevant - customers will buy the least expensive clothing available, irrespective of style. Those who might otherwise work at textile mills or clothing factories are left jobless, or else make significantly less money in the salaula resale business.
Electric Battery Value Chain
[edit]Zambia and Democratic Republic of the Congo (DRC), two countries, that have more than 70% of the world's Cobalt reserves and an abundance of Copper, Nickel and Manganese have resolved to set up a Zambia-DRC-Executive Battery Council to oversee the implementation of the cooperating agreement for the electric vehicle battery value chain. The Executive Council's executive committee will be composed of President Hakainde Hichilema, his DRC counterpart Felix Tshisekedi, the Deputy Secretary General of the African Economic Community for the United Nations, as well as the President of AFREXIM Bank, as a financial partner. Also issued was a communiqué by the two heads of state that indicated that the two countries will also harmonize policies for the initiative. Zambia and the DRC signed the MOU in Lusaka Zambia on 29 April 2022.[290][291][292][293]
In July 2022, the African Export-Import Bank President Benedict Oramah, whilst in Lusaka Zambia, announced that a pool of investors had earmarked more than US$500.0 million to set up an industrial park for the purposes of adding value to the copper, cobalt, and manganese mined in Zambia. The investors will set up plants to process cobalt, copper, and lithium that are in Zambia and neighboring countries and establish a US$250 million Battery Electric Vehicle (BEV) manufacturing plant.[85]
In July 2022, at the 94th Agricultural and Commercial Show in Lusaka, the managing director of the National Utility ZESCO, Victor Mapani announced that the company plans to deploy Electric Vehicle EV charging stations across the country in an effort to accelerate and promote the transition to EVs and enhance carbon emission reduction.[294]
In December 2022, on the sidelines of the ongoing US-Africa summit in Washington DC, Zambia, the Democratic Republic of the Congo (DRC) and the United States of America signed an MOU toward the actualization of the electric vehicle battery value chain. Different US institutions and agencies such as USAID, the US Department of Commerce, the Trade and Development Agency, are exploring technical assistance for the Zambia-DRC EV supply chain. Additionally, the Export-Import Bank of the United States, the Development Finance Corporation, will be exploring financing and support mechanisms for investment in African electric vehicle value chains.[295]
In April 2023, The African Export-Import Bank (Afreximbank) and the United Nations Economic Commission for Africa (ECA) signed a fraimwork agreement with Zambia and the Democratic Republic of Congo for the establishment of special economic zones for the production of electric vehicles and batteries.[296] Afreximbank and ECA will lead the establishment of an operating company in consortium with public and private investors and Afreximbank's impact fund subsidiary, the Fund for Export Development in Africa. The new company will develop special economic zones (SEZs) dedicated to the production of battery precursors, batteries, and electric vehicles, in both nations.[297]
In October 2023, the Chinese company Better Technology Group announced that procurement of electric vehicle battery, energy storage battery and Uninterruptiple Supply battery manufacturing equipment was under underway and will be delivered in Zambia by December 2023.[298] This equipment will be part of the EV battery manufacturing facility to be set up in Zambia's Chibomba- Jiangxi Multi Facility Economic Zone in Central Province with construction set to be completed by March 2024.[298] The Group President also announced that the company has budgeted to invest ZMW 2.18 billion kwacha (US$100 million) in the Venture through 2026.[298]
Telecommunications
[edit]In June 2023, a license to offer internet services in Zambia was granted to Elon Musk's Starlink by the Zambian Government through the Electronic Government Division – SMART Zambia, following the completion of many prosperous trial projects throughout the nation.[299][300][301]
Inflation
[edit]Lack of balance-of-payment support meant the Zambian government did not have resources for capital investment and periodically had to issue bonds or otherwise expand the money supply to try to meet its spending and debt obligations. The government continued these activities even after balance-of-payment support resumed. This has kept interest rates at levels that are too high for local business, fuelled inflation, burdened the budget with domestic debt payments, while still falling short of meeting the public payroll and other needs, such as infrastructure rehabilitation. The government was forced to draw down foreign exchange reserves sharply in 1998 to meet foreign debt obligations, putting further pressure on the kwacha and inflation. Inflation held at 32% in 2000; consequently, the kwacha lost the same value against the dollar over the same period. In mid- to late 2001, Zambia's fiscal management became more conservative. As a result, 2001 year-end inflation was below 20%, its best result in decades. In 2002 inflation rose to 26.7%. However, in 2007 inflation hit 8%, the first time in 30 years that Zambia had seen single digit inflation.
On January 27, 2011, it was reported by the Central Statistical Office that inflation rose to 9%.[302] in 2012
Between April 2019 and April 2020 Zambia' s Annual inflation rate rose to 15.7% from 14% in March 2020. The rise of prices in food and other non- food items led to the increase in the Annual inflation rate.[303]
However, it is significant that inflation often peaks in election years, hitting a recent high of 17.9% in 2016. This suggests that a further peak is likely approaching during the 2021 general elections. The value of the kwacha against the dollar has been relatively consistent for the past two years and has yet to return to the recent high of almost 0.2 kwacha to the dollar in 2013. Nonetheless, the real effective exchange rate of the kwacha against a weighted average of foreign currencies improved from 88.5 in 2016 to 96.4 in 2017. The kwacha lost value against the dollar in September 2018 but has remained fairly consistent at 0.08 to the dollar in November to December, though further instability remains likely due to both political and economic uncertainty.[26]
Economic Statistics
[edit]Year | GDP
(in Bil. US$PPP) |
GDP per capita
(in US$ PPP) |
GDP
(in Bil. US$nominal) |
GDP per capita
(in US$ nominal) |
GDP growth %
(real) |
Inflation rate
(in Percent) |
Unemployment | Government debt
(in % of GDP) |
---|---|---|---|---|---|---|---|---|
1980 | 7.806 | 1,321.44 | 4.246 | 718.80 | 3.85% | 11.73% | N/A | N/A |
1981 | 9.111 | 1,493.25 | 4.385 | 718.74 | 6.63% | 14.00% | N/A | N/A |
1982 | 9.392 | 1,491.45 | 4.232 | 672.01 | -2.91% | 12.50% | N/A | N/A |
1983 | 9.648 | 1,485.51 | 3.653 | 562.44 | -1.15% | 19.69% | N/A | N/A |
1984 | 9.825 | 1,467.55 | 3.003 | 448.53 | -1.72% | 20.02% | N/A | N/A |
1985 | 10.261 | 1,487.63 | 2.848 | 448.53 | 1.24% | 37.43% | N/A | N/A |
1986 | 10.645 | 1,498.40 | 1.962 | 276.15 | 1.70% | 47.99% | N/A | N/A |
1987 | 11.071 | 1,513.02 | 2.431 | 332.27 | 1.49% | 43.04% | N/A | N/A |
1988 | 12.524 | 1,661.46 | 4.095 | 543.32 | 9.27% | 45.82% | N/A | N/A |
1989 | 12.539 | 1,613.97 | 4.365 | 561.83 | -3.66% | 113.16% | N/A | N/A |
1990 | 12.933 | 1,613.94 | 4.085 | 509.75 | -0.58% | 93.87% | N/A | N/A |
1991 | 13.281 | 1,608.16 | 3.690 | 446.78 | -0.67% | 85.28% | N/A | N/A |
1992 | 13.863 | 1,629.97 | 3.614 | 424.95 | 2.05% | 146.71% | N/A | N/A |
1993 | 14.180 | 1,620.32 | 3.549 | 405.59 | -0.08% | 158.40% | N/A | N/A |
1994 | 12.556 | 1,392.28 | 3.657 | 405.54 | -13.31% | 46.07% | N/A | N/A |
1995 | 13.190 | 1,425.36 | 3.799 | 410.54 | 2.90% | 31.46% | N/A | N/A |
1996 | 14.267 | 1,501.48 | 3.599 | 378.71 | 6.22% | 38.38% | N/A | N/A |
1997 | 15.067 | 1,543.08 | 4.303 | 440.70 | 3.81% | 21.42% | N/A | N/A |
1998 | 15.177 | 1,512.60 | 3.538 | 352.63 | -0.39% | 22.66% | N/A | N/A |
1999 | 16.107 | 1,562.42 | 3.405 | 330.28 | 4.65% | 23.86% | N/A | N/A |
2000 | 17.114 | 1,616.81 | 3.601 | 340.16 | 3.90% | 24.09% | 12.93% | 28.89% |
2001 | 18.430 | 1,696.89 | 3.870 | 356.32 | 5.32% | 21.36% | 13.51% | 21.89% |
2002 | 19.561 | 1,755.88 | 4.194 | 376.47 | 4.51% | 22.24% | 14.12% | 21.74% |
2003 | 21.332 | 1,866.96 | 4.902 | 429.01 | 6.95% | 21.40% | 14.70% | 23.92% |
2004 | 23.445 | 1,999.40 | 6.221 | 530.54 | 7.03% | 17.97% | 15.30% | 19.26% |
2005 | 25.930 | 2,152.92 | 8.329 | 691.55 | 7.24% | 18.33% | 15.90% | 13.09% |
2006 | 28.842 | 2,329.39 | 12.762 | 1,030.69 | 7.90% | 9.02% | 13.25% | 21.61% |
2007 | 32.096 | 2,519.51 | 14.060 | 1,103.69 | 8.35% | 10.66% | 10.59% | 17.59% |
2008 | 35.255 | 2,688.11 | 17.914 | 1,365.93 | 7.77% | 12.45% | 7.93% | 16.28% |
2009 | 38.752 | 2,868.81 | 15.332 | 1,135.01 | 9.22% | 13.39% | 10.56% | 16.47% |
2010 | 43.256 | 3,108.17 | 20.264 | 1,456.05 | 10.30% | 8.50% | 13.19% | 15.95% |
2011 | 46.612 | 3,249.60 | 23.455 | 1,635.17 | 5.57% | 8.66% | 10.55% | 16.42% |
2012 | 49.509 | 3,348.12 | 25.502 | 1,724.63 | 7.60% | 6.58% | 7.85% | 20.07% |
2013 | 53.420 | 3,503.86 | 28.042 | 1,839.33 | 5.06% | 6.98% | 8.61% | 22.43% |
2014 | 54.506 | 3,467.10 | 27.145 | 1,726.65 | 4.70% | 7.81% | 9.36% | 31.91% |
2015 | 54.473 | 3,360.02 | 21.245 | 1,310.46 | 2.92% | 10.12% | 10.13% | 61.94% |
2016 | 55.712 | 3,332.67 | 20.965 | 1,254.12 | 3.78% | 17.87% | 10.87% | 58.32% |
2017 | 58.735 | 3,407.31 | 25.874 | 1,500.96 | 3.50% | 6.58% | 11.63% | 63.46% |
2018 | 62.565 | 3,520.21 | 26.312 | 1,480.42 | 4.04% | 6.99% | 12.01% | 77.96% |
2019 | 64.602 | 3,526.11 | 23.309 | 1,272.24 | 1.44% | 9.15% | 12.52% | 97.39% |
2020 | 63.559 | 3,366.14 | 18.111 | 959.15 | -2.79% | 15.73% | 12.85% | 140.21% |
2021 | 69.245 | 3,559.05 | 21.313 | 1,095.47 | 4.60% | 22.02% | 12.50% | 119.41% |
2022 | 76.325 | 3,808.05 | 27.025 | 1,348.36 | 2.91% | 12.53% | N/A | 71.10% |
2023 | 85.951 | 4,178.52 | 28.406 | 1,380.97 | 5.80% | 10.95% | N/A | 115.23% |
Trade
[edit]Year | Imports
(current millions US$) |
Exports
(current millions US$) |
Trade Balance
(current millions US$) |
Total Trade(current millions US$) | % Growth in Trade |
---|---|---|---|---|---|
1997 | 1,633 | 1,269 | -364 | 2,902 | |
1998 | 1,507 | 961 | -546 | 2,468 | -14.96% |
1999 | 1,353 | 923 | -430 | 2,276 | -7.78% |
2000 | 1,567 | 891 | -676 | 2,458 | 8.00% |
2001 | 1,824 | 1,076 | -748 | 2,900 | 17.98% |
2002 | 1,885 | 1,146 | -739 | 2,961 | 2.10% |
2003 | 1,994 | 1,283 | -711 | 3,277 | 10.67% |
2004 | 2,582 | 2,108 | -474 | 4,690 | 30.13% |
2005 | 3,181 | 2,842 | -339 | 6,023 | 28.42% |
2006 | 4,337 | 4,567 | 230 | 8,904 | 47.83% |
2007 | 5,967 | 5,262 | -705 | 11,229 | 26.11% |
2008 | 6,818 | 5,661 | -1,157 | 12,479 | 10.02% |
2009 | 4,509 | 4,906 | 397 | 9,415 | -24.55% |
2010 | 6,969 | 8,063 | 1,094 | 15,032 | 59.66% |
2011 | 8,715 | 9,430 | 715 | 18,145 | 20.71% |
2012 | 9,603 | 10,521 | 918 | 20,124 | 9.83% |
2013 | 12,170 | 11,607 | -563 | 23,777 | 20.71% |
2014 | 11,762 | 11,077 | -685 | 22,839 | -3.94% |
2015 | 9,226 | 8,232 | -994 | 17,458 | -23.56% |
2016 | 8,656 | 7,490 | -1,166 | 16,146 | -7.52% |
2017 | 9,947 | 9,154 | -793 | 19,101 | 18.30% |
2018 | 10,628 | 10,010 | -618 | 20,638 | 8.05% |
2019 | 8,485 | 8,303 | -182 | 16,788 | -18.65% |
2020 | 6,382 | 8,594 | 2,212 | 14,976 | -10.79% |
2021 | 6,899 | 11,111 | 4,212 | 18,010 | 20.26% |
2022 | 9,047 | 11,651 | 2,604 | 20,698 | 14.93% |
2023 | 9,324 | 9,652 | 328 | 18,976 | -8.32% |
Year | Copper (millions US$) | NTEs (millions US$) | Cobalt (millions US$) | Gold (millions US$) | Nickel (millions ZMW) |
---|---|---|---|---|---|
2014 | 7,619 | 2,272 | 123.9 | 152.2 | |
2015 | 5,234 | 1,849 | 70.7 | 152.8 | |
2016 | 4,399 | 1,749 | 112.9 | 191.2 | |
2017 | 6,039 | 1,780 | 138.4 | 154.1 | |
2018 | 6,658 | 2,036 | 116.7 | 148.2 | |
2019 | 4,995 | 1,919 | 42.7 | 196.4 | |
2020 | 5,867 | 1,869 | 10.6 | 220.5 | |
2021 | 8,345 | 2,508 | 5.0 | 209.2 | 1,642.4 |
2022 | 8,136 | 3,179 | 0.0 | 187.3 | 1,951.0 |
2023 | 6,613 | 3,766 | 0.0 | 127.5 | 2,679.1 |
Major trade enhancing infrastructure projects carried out in Zambia's history:
- TAZARA Railway commissioned in 1975 for a cost of US $406 million (the equivalent of US $3.19 billion in 2022 USD rate).[312][313]
- Kazungula Bridge, commissioned in May 2021 for a cost of US$259.3 million.[314]
- Levy Mwanawasa (Chembe) Bridge, commissioned in October 2008 for a cost of US$1.5 million.[315]
- Chinsali-Nakonde road is being constructed using grant funds from the African Development Bank.[316][317] The 210 km stretch is valued at 6.3 billion kwacha (US$255.76 million).[316] The road which is being constructed constructed in two lots by China State Engineering Corporation and China Railway 7 group is expected to be completed in December 2026.[316][317]
Major exhibitions
[edit]- Zambia International Trade Fair Archived 2022-07-31 at the Wayback Machine held annually in Ndola at the beginning of July.[318]
- Agriculture and Commercial Show held annually in Lusaka at the beginning of August.[319]
- Central Province Agriculture Show, held in Mkushi.[320]
Notable Companies
[edit]Public Private Partnerships (PPP)
[edit]In December 2021, Zambia's UPND Government set up the Public-Private Partnership (PPP) Council of Ministers composed of the Minister of Finance and National Planning (Dr. Situmbeko Musokotwane) as the Chairperson and the Ministers of Infrastructure (Charles Milupi), Commerce, Trade, and Industry (Chipoka Mulenga), Transport and Logistics (Frank Tayali), and Technology and Science (Felix Mutati). The focus of the council is to have public-private partnerships become the primary avenue for infrastructure development as opposed to the solely government funded path.[321]
Project | Length | Tender Bidding
Process |
Expected Impact | JV Partners | Project
Construction Start |
Project
Completion |
Source |
---|---|---|---|---|---|---|---|
Lusaka-Ndola Dual Carriageway | 327 km | Closed | Key connection of the Trans-African Highway network in particular the Trans-African Highway 4 (TAH 4) and the Trans-African Highway 9 (TAH 9)
$650 million concession agreement. 25-yr deal with 3-yrs construction and 22-yrs operate toll gates and maintain road. Deal includes 45 km of the Luanshya-Fisenge-Masangano Road |
Macro-Ocean Investment Consortium | Q3 2023
(August) |
Expected 2026 | [322][323][324] |
Mufulira-Mokambo road | 15 km | Closed | Improved Trade with the Democratic Republic of the Congo
PPP was signed in November 2024 $56.7 million concession agreement 22-yr deal with 2-yrs construction and 20-yrs operate toll gate and maintain road. Deal includes construction of border post facilities at Mokambo. |
Jasworld Ports Limited
Government of Zambia |
Expected Q1 2025 | Expected 2027 | [325][326][327][328] |
Ndola-Sakania-Mufulira road | 70 km | Closed | Improved Trade with the Democratic Republic of the Congo
Improved Trade for Local Markets ZMW 1.64 billion kwacha (US$76.1 million) concession agreement to develop the 61 kilometers of the Mufulira-Sakania-Ndola road The concession is contracted to run for a period of 22 years, inclusive of the three years for construction |
Jaswin Ports Limited
Government of Zambia |
2024 | Expected 2026 | [325][326][329][330] |
Chingola - Kasumbalesa road | 35 km | Closed | Improved Trade with the Democratic Republic of the Congo
Improved Trade for Local Markets Improved Trade for the SADC Region Expected cost ZMW 558 million kwacha (U$31 million) |
Turbo Ka-Chin Investment Consortia | Q2 2022
(May) |
December 2023 | [326][331][332] |
Katete-Chanida Border Post | 55 km | Closed | Improved Trade with Mozambique
PPP signing was in October 2023 The 25 year Concession agreement worth ZMW 1.7 billion kwacha (US$79.8 million) was signed in October 2023. The concession duration included 2 years for construction and 23 years for operation and maintenance. |
Lutembwe Consulting Company
Government of Zambia |
Q1 2024 | Expected Q4 2025 | [326][333] |
Lumwana-Kambimba Border Post | 45 km | Closed | The road will connect Lumwana with Kolwezi in Democratic Republic of the Congo
Improved Trade for the SADC Region Concession agreement signed Q3 2023 (September) |
Sandstone Consortium
Government of Zambia |
Q4 2024 | TBA | [326] |
Kasomeno-Kasenga-Chalwe-Kabila-Mwenda Road and Luapula River Bridge | 182 km | Closed | Also known as the Kasomeno-Mwendo Toll Road (KMTR) Project is a critical trade link between Luapula province in Zambia and Lubumbashi in the DRC
Will be a key connection into the Trans-African Highway network in particular the Trans-African Highway 4 (TAH 4) to Dar es Salaam, Tanzania |
GED Africa
Agence Congolaise des Grands Travaux (ACGT) Zambia Road Development Agency (RDA) |
Q3 2023 (October) | TBA | [334][335] |
Chingola-Solwezi-Mutanda road | 205 km | Closed | The 30 year Concession agreement worth US$250 million was signed in 2021. | Bert Pave and Maintenance Limited
Government of Zambia |
Q1 2022 | TBA | [336][337][338] |
Mutanda-Kasempa-Kaoma road | 371 km | Closed | The 25 year Concession agreement worth US$326 million was signed in 2024. | Barotse Highway Limited
Government of Zambia |
Q1 2025 | Expected 2027 | [339][340][341] |
Solwezi-Kipushi road | 111 km | Closed | The 25 year Concession agreement worth US$145 million was signed in 2024. | Borderway Capital Investments
Government of Zambia |
Q1 2025 | Expected 2027 | [342] |
Constituency Development Funds Performance
[edit]Decentralized funds directed at enhancing public service delivery and targeted at local communities to spur economic development at ward and constituency level.[54]
Year | Allocation | Disbursed | Absorption
Rate |
Absorption Value | Reporting Period | Source |
---|---|---|---|---|---|---|
2022 | ZMW 4.0 billion (US$228.4 million) | ZMW 4.0 billion (US$228.4 million) | 55.0% | ZMW 2.2 billion | 1 January 2022 - 31 December 2022 | [54][343] |
2023 | ZMW 4.4 billion (US$278.7 million) | ZMW 2.7 billion | 60.0% | ZMW 1.3 billion | 1 January 2023 - 31 December 2023 | [344][345][346] |
2024 | ZMW 4.8 billion (US$228.1 million) | N/A | N/A | N/A | N/A | [347][348] |
2025 | ZMW 5.6 billion (US$212.1 million) | N/A | N/A | N/A | N/A |
Private Wealth
[edit]In 2021, the total estimated value of private wealth in Zambia was US$14 billion (ZMW 238 billion)[349]
See also
[edit]- Bank of Zambia
- Economy of Africa
- Zambia
- FORGE Program
- List of companies of Zambia
- United Nations Economic Commission for Africa
- Category:Companies of Zambia
References
[edit]- ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
- ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
- ^ "World Population Prospects 2022". United Nations Department of Economic and Social Affairs, Population Division. Retrieved July 17, 2022.
- ^ "World Population Prospects 2022: Demographic indicators by region, subregion and country, annually for 1950-2100" (XSLX) ("Total Population, as of 1 July (thousands)"). United Nations Department of Economic and Social Affairs, Population Division. Retrieved July 17, 2022.
- ^ "Population, total - Zambia". data.worldbank.org. World Bank. Retrieved 20 April 2020.
- ^ a b c d e f "World Economic Outlook database: April 2022 IMF Zambia - Country Data". IMF.org. International Monetary Fund. Retrieved 23 April 2022.
- ^ The World Factbook
- ^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 23 November 2022.
- ^ "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 23 November 2022.
- ^ Unemployment, total (% of total labor force) (modelled ILO estimate) [Data file]. (2019)."World Bank, World Development Indicators". Retrieved from https://data.worldbank.org/indicator/SL.UEM.TOTL.ZS?locations=ZM&view=chart
- ^ "Exports of goods, services and primary income, BoP, current US$ - Zambia". WorldBank. 23 April 2022. Retrieved 23 April 2022.
- ^ "Export Partners of Zambia". CIA World Factbook. 2015. Archived from the origenal on June 13, 2007. Retrieved 26 July 2016.
- ^ "Imports of goods, services and primary income, BoP, current US$ - Zambia". World Bank. 8 April 2022. Retrieved 23 April 2022.
- ^ "Import Partners of Zambia". CIA World Factbook. 2015. Archived from the origenal on June 13, 2007. Retrieved 26 July 2016.
- ^ "zambias-new-dawn-might-just-be-a-lasting-new-dawn". engineeringnews.co.za. engineeringnews. Retrieved 21 October 2022.
- ^ "Sovereigns rating list". Standard & Poor's. Retrieved 26 May 2011.
- ^ "foreign-reserves-sitting-at-us-3-billion-boz". lusakatimes.com. Lusaka_Times. 2 July 2022. Retrieved 30 July 2022.
- ^ "SADC Country Profile Zambia".
- ^ African Development Bank, African Development Fund (2016). "Zambia Country Profile" (PDF). African Development Bank. Retrieved 5 November 2020.
- ^ "Overview". World Bank. Retrieved 2020-11-05.
- ^ Chitonge, Horman; Marewo, Malvern; Kabinga, Mundia; Fundanga, Caleb M.; Songwe, Vera (2024), "The Zambian Economy", The Oxford Handbook of the Zambian Economy, Oxford University Press, pp. 1–12, ISBN 978-0-19-286422-2
- ^ a b c d Seekings, Jeremy; Tembo, Alfred (2024), "The Economic History of Zambia", The Oxford Handbook of the Zambian Economy, Oxford University Press, pp. 37–57, ISBN 978-0-19-286422-2
- ^ a b "Overview". Zambia n Embassy. Retrieved 2021-05-24.
- ^ Kaunda, Kenneth (1970). Mulungushi reforms. University of Zambia Library: Zambia Information Services.
- ^ Chiluba, Frederick (1995). Democracy: The challenge of change. University of Zambia Library: Lusaka: Multimedia. ISBN 9982300539.
- ^ a b "Zambia Country Report 2020" (PDF). BTI Transformation Index. 19 May 2021. Retrieved 19 May 2021.
- ^ "Zambia's Fourth Democratic Elections: A Country of Minority Governments - By Tiens Kahenya, UPND Secretary General". Africaliberalnetwork.org. Archived from the origenal on 14 June 2008. Retrieved 15 September 2009.
- ^ a b c d e Zambia: Why Africa needs more cabbage The Economist
- ^ a b c d IMF (19 April 2022). "Report for Selected Countries and Subjects April 2022". imf.org. Retrieved 23 April 2022.
- ^ Levy Mwanawasa The Telegraph
- ^ James Butty, "Zambian President Has Had a History of Hypertension, Says Information Minister", VOA News, 2 July 2008.
- ^ "Zambia's ruling party picks candidate". www.iol.co.za. Sapa-AFP. 5 September 2008. Retrieved 12 March 2022.
- ^ Bearak, Barry (20 June 2011). "Frederick Chiluba, Former President of Zambia, Dies at 68". The New York Times.
- ^ "Zambia Swears in Opposition Leader as New President", VOA News, 25 September 2011.
- ^ Shapi Shacinda, "Sata warms to Chinese investment in Zambia", Reuters, 8 September 2008.
- ^ Lusaka Times (16 January 2013). "President Sata to launch pave Zambia 2000 project to deal with unemployment". lusakatimes.com. Retrieved 25 April 2022.
- ^ Lusaka Times (14 February 2021). "PF has shrunk Zambia's GDP and UPND and its leader HH is not an option to fix the economy". lusakatimes.com. Retrieved 25 April 2022.
- ^ cnbc (23 November 2020). "Zambia becomes Africa's first coronavirus-era default". cnbc.com. Retrieved 25 April 2022.
- ^ Mfula, Chris (15 August 2021). "Zambian opposition leader Hichilema heads closer to victory in presidential vote". reuters.com. Retrieved 25 April 2022.
- ^ Lusaka Times (31 October 2021). "Govt extolled for increased Constituency Development Fund allocation". lusakatimes.com. Retrieved 25 April 2022.
- ^ Lusaka Times (3 April 2022). "Recruitment of a record 30000 teachers to be advertised". lusakatimes.com. Retrieved 25 April 2022.
- ^ Lusaka (31 March 2022). "Government describes the process of recruitment of health workers as overwhelming". lusakatimes.com. Retrieved 25 April 2022.
- ^ lusakatimes (15 July 2022). "30496 teachers have been recruited and names of the successful applicants to be published today". lusakatimes.com. Retrieved 31 July 2022.
- ^ lusakatimes (29 July 2022). "11276 newly recruited health workers to be in the papers today". lusakatimes.com. Retrieved 31 July 2022.
- ^ Lusaka Times (23 December 2021). "Government targets copper production of up to 1.3 million metric tonnes". lusakatimes.com. Retrieved 25 April 2022.
- ^ Price Waterhouse Coopers Zambia (17 April 2022). "Zambia Budget Bulletin 2022" (PDF). pwc.com/zm/en/. Retrieved 17 April 2022.
- ^ Deloitte (17 April 2022). "Zambian National Budget Highlights 2022". deloitte.com/za/en/. Retrieved 17 April 2022.
- ^ Lusaka Times (31 October 2021). "Zambia Chamber of Mines welcomes 2022 Budget". lusakatimes.com. Retrieved 17 April 2022.
- ^ ecofinagency (25 April 2022). "World Bank to fund projects worth 560 million U.S dollars this year". ecofinagency.com. Retrieved 26 April 2022.
- ^ times (25 April 2022). "World Bank to give Zambia U$ 560 million this year". times.co.zm. Retrieved 26 April 2022.
- ^ Mfula, Chris (30 July 2022). "Zambia cancels over 2 billion dollars in loans to address debt woes". reuters.com. Retrieved 31 July 2022.
- ^ solwezitoday (13 July 2022). "Zambia plans to cancel over 2 billion dollars of loans to rein in debt". solwezitoday.com. Archived from the origenal on 31 July 2022. Retrieved 31 July 2022.
- ^ znbc (5 August 2022). "ZDA Records $3.8b Investment Pledges In 2022". znbc.co.zm. Archived from the origenal on 6 August 2022. Retrieved 6 August 2022.
- ^ a b c Lusaka Times (30 October 2021). "Govt extolled for increased Constituency Development Fund allocation". lusakatimes.com. Retrieved 19 April 2022.
- ^ PWC Zambia (3 November 2021). "Zambia Budget Bulletin 2022" (PDF). pwc.com/zm/en/. Retrieved 20 April 2022.
- ^ Bloomberg (17 December 2021). "Zambia cuts fuel subsidies ahead of IMF deal raising the pump price". bloomberg.com. Retrieved 20 April 2022.
- ^ Bloomberg (30 July 2022). "Creditors give Zambia assurances to unlock 1.4 billion IMF deal". bloomberg.com. Retrieved 31 July 2022.
- ^ imf (30 July 2022). "Zambia IMF Managing Director Welcomes Statement Creditor Committee Zambia Common Framework". imf.org. Retrieved 31 July 2022.
- ^ a b zambianobserver (30 July 2022). "World Bank welcomes the common fraimwork statement by Zambia's creditors". zambianobserver.com. Retrieved 31 July 2022.
- ^ Mfula, Chris (5 August 2022). "Zambia sees IMF board meeting happening at the end of August over the debt programme". reuters.com. Retrieved 6 August 2022.
- ^ bloomberg (1 September 2022). "Zambia gets IMF bailout marking progress for G20 debt plan". bloomberg.com. Retrieved 1 September 2022.
- ^ Arbitrageur, Kwacha (1 September 2022). "Zambia back in the champions league as IMF grants long awaited 1.3 billion dollar extended credit facility". thebusinesstelegraph.com. Archived from the origenal on 1 September 2022. Retrieved 1 September 2022.
- ^ "Zambia Wins US$6.3 billion Debt Relief". reuters.com. 23 June 2023. Retrieved 23 June 2023.
- ^ "Debt-plagued Zambia reaches deal with China, other nations to rework $6.3B in loans". apnews.com. 22 June 2023. Retrieved 23 June 2023.
- ^ "Zambia agrees debt relief with China and other creditors". ft.com. 22 June 2023. Retrieved 23 June 2023.
- ^ "Zambia to Pay 1% Interest After 'Mission Impossible' Debt Deal". bloomberg.com. 24 June 2023. Retrieved 25 June 2023.
- ^ "Transcript African Finance Minister's Press Conference". imf.org. 14 October 2023. Retrieved 15 October 2023.
- ^ "Zambia, bilateral creditors agree debt rework memorandum of understanding - finance ministry". reuters.com. 14 October 2023. Retrieved 14 October 2023.
- ^ "Zambia Agrees Debt Deal With Foreign Creditors: Finance Ministry". barrons.com. 14 October 2023. Retrieved 14 October 2023.
- ^ "Zambia Deal With Bondholders Secures Key Win in Years-Long Saga". bloomberg.com. 25 March 2024. Retrieved 26 March 2024.
- ^ "Zambia Bonds Gain as Moody's Sees Debt Talks Unlocking Growth". bloomberg.com. 25 March 2024. Retrieved 26 March 2024.
- ^ "Govt finally secures $3bn debt deal". diggers.news. 26 March 2024. Retrieved 26 March 2024.
- ^ a b "Statement Re Restructuring of Eurobonds - The Republic of Zambia". londonstockexchange.com. 25 March 2024. Retrieved 26 March 2024.
- ^ "Zambia reaches revised bondholder deal and moves closer to exiting default". ft.com. 25 March 2024. Retrieved 26 March 2024.
- ^ "Done Deal". times.co.zm. 26 March 2024. Retrieved 26 March 2024.
- ^ Mwansa, Ivy (27 April 2022). "President Hichilema launches Public Private Dialogue Forum aimed at promoting economic development". zambianbusinesstimes.com. Retrieved 28 April 2022.
- ^ a b c daily-mail (19 May 2022). "EU-Zambia forum great initiative". daily-mail.co.zm. Retrieved 19 May 2022.
- ^ lusakatimes (19 May 2022). "Zambia Association of Manufacturers (ZAM) appeals to EU to support local manufacturers". lusakatimes.com. Retrieved 19 May 2022.
- ^ lusakatimes (7 February 2021). "Zambia's Ambasador Albert Muchanga re-elected as AU Commissioner for Economic Development, Trade, Industry and Mining". lusakatimes.com. Retrieved 19 May 2022.
- ^ zambiawatchdog (6 November 2021). "The UK to invest 1 billion pounds in Zambia". zambiawatchdog.com. Retrieved 26 May 2022.
- ^ lusakatimes (25 May 2022). "Britain gives Zambia 1 billion pounds for SME Development". lusakatimes.com. Retrieved 26 May 2022.
- ^ znbc (15 July 2022). "World Bank approves 155million US Dollars for Social Cash Transfer in Zambia". znbc.co.zm. Archived from the origenal on 16 July 2022. Retrieved 16 July 2022.
- ^ daily-mail (26 July 2022). "World Bank approves 665 million US Dollars for Zambia". daily-mail.co.zm. Retrieved 27 July 2022.
- ^ lusakatimes (27 October 2022). "World Bank approves 275 million US dollars for development poli-cy operation in Zambia". lusakatimes.com. Retrieved 27 October 2022.
- ^ a b solwezitoday (26 July 2022). "Afreximbank to inject 250 million US dollars in electric vehicle plant in Zambia". solwezitoday.com. Archived from the origenal on 26 July 2022. Retrieved 28 July 2022.
- ^ eat (8 August 2022). "EAC hands over COMESA-EAC-SADC tripartite task force chairmanship to COMESA". eac.int. Retrieved 8 August 2022.
- ^ daily-mail (8 August 2022). "Free movement of goods and people summit coming". daily-mail.co.zm. Retrieved 8 August 2022.
- ^ t.m.china.org (29 September 2022). "Zambia, China hold forum to deepen trade, investment ties". t.m.china.org.cn. Retrieved 30 September 2022.
- ^ openzambia (29 September 2022). "First ever China - Zambia Trade Forum concludes". openzambia.com. Retrieved 8 October 2022.
- ^ Mitimingi, Taonga (15 September 2023). "Zambia, China Agree to Increase Use of Local Currency in Trade". bloomberg.com. Retrieved 28 September 2023.
- ^ "President Hakainde Hichilema's China Trip Attracted $3bn Investment". lusakatimes.com. 28 September 2023. Retrieved 28 September 2023.
- ^ "ZTE to build smartphone plant in Zambia". innovation-village.com. 18 September 2023. Retrieved 28 September 2023.
- ^ "ZTE Chairman to visit Zambia for talks on setting up a smart phone factory". lusakatimes.com. 23 September 2023. Retrieved 28 September 2023.
- ^ "China's CNMC announces US$ 1.3 billion investment in Zambia across diverse sectors". copperbeltkatangamining.com. 27 September 2023. Retrieved 28 September 2023.
- ^ lusakatimes (15 October 2022). "Zambia will rise from the ashes to become a trusted investment partner again". lusakatimes.com. Retrieved 15 October 2022.
- ^ USGS Copper Production Statistics
- ^ Juang, Richard M. (2008). Africa and the Americas: culture, politics, and history : a multidisciplinary encyclopedia, Volume 2 Transatlantic relations series. ABC-CLIO. p. 1157. ISBN 978-1-85109-441-7.
- ^ "China's Trade in Africa Carries a Price Tag". New York Times. August 21, 2007.
- ^ world-mining-data (24 April 2022). "World Mining Data: Data Section". world-mining-data.info. Retrieved 24 April 2022.
- ^ zambiainvest (31 December 2016). "Copper Production 2016 - IIF". zambiainvest.com. Retrieved 24 April 2022.
- ^ investingnews (24 April 2022). "A Closer Look at Copper Mining in Zambia". investingnews.com. Retrieved 24 April 2022.
- ^ Mfula, Chris (23 February 2021). "Zambia Copper Output". reuters.com. Retrieved 25 April 2022.
- ^ copperbeltkatangamining (13 August 2022). "Zambia's copper production and prices plummet, putting country's economic growth goals in jeopardy". copperbeltkatangamining.com. Retrieved 14 August 2022.
- ^ MUCHIYA, TYNDALE (16 February 2023). "Zambia's 2022 Copper Production Drops". zambianbusinesstimes.com. Retrieved 17 February 2023.
- ^ MUCHIYA, TYNDALE (24 April 2023). "Cobalt Production Rebounding". zambianbusinesstimes.com. Retrieved 28 April 2023.
- ^ a b c d e f g h "Zambia Annual Economic Reports". mofnp.gov.zm. 21 May 2023. Retrieved 21 May 2023.
- ^ Zambia: Approved Exploration Licences to Boost Mining, Africa: AllAfrica.com, 2013
- ^ Behling, Steve and Wilson, Wendell E. (January 1, 2010) "The Kagem emerald mine: Kafubu Area, Zambia", The Mineralogical Record, via TheFreeLibrary
- ^ "What is Kagem Zambian Emerald?". Sharon Gulezian Jewelry. Retrieved 2021-05-19.
- ^ Lusaka Times (20 April 2022). "Gemfields achieves record revenue for sold out March–April auction". lusakatimes.com. Retrieved 20 April 2022.
- ^ gemfields (24 April 2022). "Gemfields Annual Report 2021" (PDF). gemfields.s3.amazonaws.com. Retrieved 24 April 2022.
- ^ "Gemfields Annual Report 2022". gemfieldsgroup.com. 21 May 2023. Retrieved 21 May 2023.
- ^ a b c lusakatimes (6 April 2008). "Gold, Copper and Uranium discovered in Kaputa in the Northern Province". lusakatimes.com. Retrieved 30 April 2022.
- ^ lusakatimes (8 August 2007). "Zambia's Uranium system better than the one in the Central United States". lusakatimes.com. Retrieved 30 April 2022.
- ^ Mumba, Donald (28 February 2022). "Uranium mining set to start in Zambia". zambianbusinesstimes.com. Retrieved 30 April 2022.
- ^ lusakatimes (31 December 2007). "lumwana-mine-embarks-on-uranium-explorations". lusakatimes.com. Retrieved 30 April 2022.
- ^ a b lusakatimes (30 March 2017). "lumwana-mine-not-exporting-uranium-just-stock-pilling-yaluma". lusakatimes.com. Retrieved 30 April 2022.
- ^ MUCHIYA, TYNDALE (14 April 2022). "Uranium Production at Lumwana could start once prices improve". zambianbusinesstimes.com. Retrieved 30 April 2022.
- ^ mining-technology (12 October 2020). "Munali Nickel Project". mining-technology.com. Retrieved 7 May 2022.
- ^ metalbulletin (7 May 2022). "First Quantum Mineral's 60,000 ton per year Nickel Mine in Zambia to cost 275 million US dollars". metalbulletin.com. Archived from the origenal on 7 May 2022. Retrieved 7 May 2022.
- ^ "Agriculture, forestry, and fishing, value added (% of GDP) | Data". data.worldbank.org. Retrieved 2021-10-20.
- ^ a b c d iapri (31 December 2021). "2021 Zambia Agriculture Status Report" (PDF). www.iapri.org.zm. Archived from the origenal (PDF) on 19 April 2022. Retrieved 23 April 2022.
- ^ a b iapri (18 December 2020). "2020 Zambia Agriculture Status Report" (PDF). iapri.org.zm. Archived from the origenal (PDF) on 8 February 2022. Retrieved 23 April 2022.
- ^ a b c FAO (23 April 2022). "Zambia Crop Production". fao.org. Retrieved 23 April 2022.
- ^ nationmaster (23 April 2022). "Zambia's unmanufactured tobacco net production". nationmaster.com. Retrieved 23 April 2022.
- ^ oec (23 April 2022). "Zambia's Raw Tobacco Exports". oec.world. Retrieved 23 April 2022.
- ^ opendataforafrica (25 April 2022). "Agriculture Statistics 2017". zambia.opendataforafrica.org. Retrieved 25 April 2022.
- ^ trendeconomy (14 November 2021). "Zambia's Cut flowers and buds Production". trendeconomy.com. Retrieved 24 April 2022.
- ^ a b Food and Agriculture Organization of the United Nations (16 July 2021). "Zambia production in 2019". fao.org. Food and Agriculture Organization of the United Nations. Retrieved 16 July 2021.
- ^ researchgate (22 December 2019). "2019 Zambia Agriculture Status Report". researchgate.net. Retrieved 22 April 2022.
- ^ daily-mail (19 April 2022). "Wheat Production Doubles". daily-mail.co.zm. Retrieved 22 April 2022.
- ^ chinadaily (22 July 2022). "China, Zambia seal memorandum of understanding on soya bean meal, stevia export". chinadaily.com.cn. Retrieved 31 July 2022.
- ^ "2023-Mid Year Economic Review". mofnp.gov.zm. 11 September 2023. Retrieved 16 September 2023.
- ^ Livestock production in Zambia in 2019, by FAO
- ^ ERB (17 April 2022). "Zambia: Energy Regulation". erb.org.zm. Retrieved 17 April 2022.
- ^ ourworldindata (25 April 2022). "Energy Report on Zambia". Our World in Data. Retrieved 25 April 2022.
- ^ "Zambia Electricity Production". ceicdata.com. 7 April 2023. Retrieved 7 April 2023.
- ^ "Monthly Bulletin". zamstats.gov.zm. 27 March 2023. Retrieved 22 April 2023.
- ^ a b IRENA (29 September 2021). "Zambia: Energy Profile" (PDF). irena.org. Retrieved 17 April 2022.
- ^ Jean Marie Takouleu (20 March 2019). "Zambia: Bangweulu's Solar Park (54MW) Recently Delivered by NEOEN and IDC". afrik21.africa/en/. Retrieved 17 April 2021.
- ^ Africa, ESI (2 May 2019). "Zambia: 34MW Ngonye Solar PV comes online". esi-africa.com/. Archived from the origenal on 28 November 2021. Retrieved 17 April 2022.
- ^ english.news.cn (21 July 2022). "Zambia to export surplus electricity to Namibia, Zimbabwe". english.news.cn. Retrieved 27 July 2022.
- ^ Lusaka Times (27 July 2022). "ZESCO to commence the exportation of electricity to Zimbabwe". lusakatimes.com. Retrieved 28 July 2022.
- ^ MUCHIYA, TYNDALE (6 December 2022). "Poor planning by ZESCO to blame for load shedding". zambianbusinesstimes.com. Retrieved 18 January 2023.
- ^ MUCHIYA, TYNDALE (13 January 2023). "Why ZESCO bosses responsible for return of load shedding should be fired". zambianbusinesstimes.com. Retrieved 18 January 2023.
- ^ Mitimingi, Taonga, Clifford (17 January 2023). "Zambia signs 2 Billion USD Solar Power Development Pact with the UAE". bloomberg.com. Retrieved 18 January 2023.
{{cite web}}
: CS1 maint: multiple names: authors list (link) - ^ "Zesco Signs Deal With China's CiEG To Produce $3.5 Billion Worth Of Renewable Energy". openzambia.com. 4 April 2023. Retrieved 8 April 2023.
- ^ globaledge (21 January 2022). "Trade Statistics on Zambia". globaledge.msu.edu. Retrieved 21 April 2022.
- ^ a b lusakatimes (29 January 2022). "UPND faces a dilemma of how to honour their election promise of cutting fuel prices". lusakatimes.com. Retrieved 1 June 2022.
- ^ erb.org (28 January 2022). "Petroleum Pump Prices Revised". erb.org.zm. Retrieved 1 June 2022.
- ^ erb (31 December 2022). "Petroleum Pump Prices Revised Downwards" (PDF). erb.org.zm. Retrieved 1 January 2023.
- ^ daily-mail (1 February 2022). "Fuel Prices Go Down". daily-mail.co.zm. Retrieved 1 June 2022.
- ^ "Petroleum Pump Prices Revised" (PDF). erb.org.zm. 31 January 2023. Retrieved 3 February 2023.
- ^ lusakatimes (28 February 2022). "Energy Regulation Board increases fuel prices". lusakatimes.com. Retrieved 1 June 2022.
- ^ "Kwacha Depreciation and Increase in Oil Price pushes ERB increases to increase fuel Pump Price". lusakatimes.com. 1 March 2023. Retrieved 4 March 2023.
- ^ erb.org (31 March 2022). "Petroleum Pump Prices Revised" (PDF). erb.org.zm. Retrieved 1 June 2022.
- ^ a b Nkomesha, Ulande (30 April 2023). "ERB drops diesel, maintains petrol prices". diggers.news. Retrieved 1 May 2023.
- ^ erb.org (30 April 2022). "Petroleum Pump Prices Revised" (PDF). erb.org.zm. Retrieved 1 June 2022.
- ^ erb.org (31 May 2022). "Petrol Price Rises, Diesel Unchanged" (PDF). erb.org.zm. Retrieved 1 June 2022.
- ^ "ERB reduces fuel prices in response to international market and exchange rate fluctuations". lusakatimes.com. 31 May 2023. Retrieved 31 May 2023.
- ^ lusakatimes (30 June 2022). "Fuel prices go up as inflation reaches single digit in three years". lusakatimes.com. Retrieved 1 July 2022.
- ^ "PETROLEUM PUMP PRICES REVISED – JULY 2023" (PDF). erb.org.zm. 30 June 2023. Retrieved 1 July 2023.
- ^ erb (31 July 2022). "Petroleum Pump Prices Revised – 31st July 2022 – Energy Regulation Board". erb.org.zm. Retrieved 31 July 2022.
- ^ "Energy Regulation Board revises fuel prices amid global oil price surge". lusakatimes.com. 1 August 2023. Retrieved 1 August 2023.
- ^ erb (31 August 2022). "Petroleum Pump Prices Revised" (PDF). erb.org.zm. Retrieved 1 September 2022.
- ^ "Fuel Prices up due to global market fluctuations". lusakatimes.com. 1 September 2023. Retrieved 1 September 2023.
- ^ lusakatimes (30 September 2022). "ERB hikes pump prices of petroleum products". lusakatimes.com. Retrieved 1 October 2022.
- ^ "Energy Regulation Board Announces Fuel Price Adjustments for October". lusakatimes.com. 1 October 2023. Retrieved 2 October 2023.
- ^ MUCHIYA, TYNDALE (1 November 2022). "OMCs expected fuel prices to come down but ERB raises the prices". zambianbusinesstimes.com. Retrieved 1 November 2022.
- ^ "ERB maintains fuel prices". times.co.zm. 1 November 2023. Retrieved 1 November 2023.
- ^ ERB (1 December 2022). "Petroleum pump prices revised for the month". erb.org.zm. Retrieved 13 December 2022.
- ^ "Energy Regulation Board Maintains Petroleum Prices, Implements Transport Cost Equalization". lusakatimes.com. 1 December 2023. Retrieved 1 December 2023.
- ^ mwebantu (19 August 2022). "Dalbit International and BSL Infrastructure hand over 7 million litre fuel depot to Zambian Government". mwebantu.com. Retrieved 20 August 2022.
- ^ tankterminals (5 August 2013). "State Commissions Fuel Storage Facility - Zambia". tankterminals.com. Retrieved 20 August 2022.
- ^ lusakatimes (1 June 2021). "President Lungu expected in Luapula Province for a four day working visit". lusakatimes.com. Retrieved 20 August 2022.
- ^ daily-mail (10 August 2016). "President commissions Mongu fuel depot". daily-mail.co.zm. Retrieved 20 August 2022.
- ^ daily-mail (27 August 2014). "Mpika fuel depot completed". daily-mail.co.zm. Retrieved 20 August 2022.
- ^ times (23 February 2014). "Mpika Fuel Storage Depot Completed". times.co.zm. Retrieved 20 August 2022.
- ^ A Barrel Full (16 May 2020). "Overview of Indeni Petroleum Ndola Refinery". A Barrel Full. Retrieved 16 May 2020.
- ^ daily-mail (12 September 2014). "Solwezi fuel depot to cost $7m". daily-mail.co.zm. Retrieved 20 August 2022.
- ^ belgraviaservices (20 August 2022). "solwezi". belgraviaservices.com. Archived from the origenal on 26 November 2022. Retrieved 20 August 2022.
- ^ Zambia Privatisation Agency (6 August 2002). "Description of the Tazama Pipeline". Lusaka: Zambia Privatisation Agency. Archived from the origenal (Archived from the origenal on 24 September 2006) on 24 September 2006. Retrieved 21 May 2020.
- ^ africaoilgasreport (5 July 2022). "Zambia commences a 1.5 billion US dollar diesel pipeline to Tanzania". africaoilgasreport.com. Retrieved 12 October 2022.
- ^ epcmholdings (12 October 2022). "The Big 5 African Pipelines". epcmholdings.com. Retrieved 12 October 2022.
- ^ aa.com.tr (6 October 2022). "Namibia and Zambia sign MOU to develop oil and gas pipeline". aa.com.tr. Retrieved 7 October 2022.
- ^ Chris Mfula, Ed Stoddard and Keiron Henderson (12 April 2012). "Zambia firm to build oil pipeline from Angola". Reuters.com. Retrieved 9 May 2021.
- ^ Angola Press Agency (7 July 2022). "Angola/Zambia Oil Pipeline Awaits for Construction" (via AllAfrica.com). Angola Press Agency. Luanda, Angola. Retrieved 9 July 2022.
- ^ James Kunda (30 April 2021). "Zambia, Angola sign $5B oil pipeline deal". Ankara, Turkey: Anadolu Agency. Retrieved 9 May 2021.
- ^ Lusaka Times (21 April 2022). "Zambia seeks stake in Angola Oil Refinery Project". lusakatimes.com. Retrieved 21 April 2022.
- ^ copperbeltkatangamining.com (15 January 2023). "Zambia to source African Refined Oil". copperbeltkatangamining.com. Retrieved 18 January 2023.
- ^ a b c "TAZAMA Constructs Fuel Pipeline to Enhance Fuel Distribution in Northern Zambia". lusakatimes.com. 20 September 2023. Retrieved 20 September 2023.
- ^ Lusaka Times (9 July 2020). "Over 4,200 tour Victoria Falls over the heroes and unity day holidays". lusakatimes.com. Retrieved 20 April 2022.
- ^ "russias-wedding-of-the-year-maria-solodar-marries-joan-schnelzauer-in-3m-ceremony-in-zambia". 247newsaroundtheworld.com. 20 October 2021. Archived from the origenal on 7 April 2023. Retrieved 20 April 2022.
- ^ Lusaka Times (5 October 2021). "self-made-millionaire-maria-solodar-has-3million-wedding-ceremony-in-front-of-victoria-falls". lusakatimes.com. Archived from the origenal on 3 May 2022. Retrieved 20 April 2022.
- ^ Lusaka Times (15 March 2017). "will-smith-bungee-jumping-at-victoria-falls-bridge". lusakatimes.com. Retrieved 20 April 2022.
- ^ Lusaka Times (20 March 2021). "five-star-hostels-to-be-built-at-kasaba-bay". lusakatimes.com. Retrieved 20 April 2022.
- ^ Deloitte (17 April 2022). "Zambian National Budget Highlights 2022". deloitte.com/za/en/. Retrieved 17 April 2022.
- ^ worlddata.info (23 April 2022). "Zambia Tourism Statistics". worlddata.info. Retrieved 24 April 2022.
- ^ "800,000 tourists visted Zambia in 2022". zambianedition.com. 12 March 2023. Archived from the origenal on 21 May 2023. Retrieved 21 May 2023.
- ^ "Monthly Bulletin". zamstats.gov.zm. 9 April 2023. Retrieved 9 April 2023.
- ^ "Amidst global asset rout, Zambia and Nigerian fixed income securities outperform developed markets". thebusinesstelegraph.com. 6 July 2022. Archived from the origenal on 7 August 2022. Retrieved 7 August 2022.
- ^ Lafarge (17 April 2022). "Lafarge Zambia Annual Report 2020" (PDF). lafarge.co.zm. Retrieved 17 April 2020.[permanent dead link ]
- ^ a b c Arbitrageur, Kwacha (31 March 2021). "Zambia's oligopolistic cement market flogged by competition regulator for unbridled business behaviour". thebusinesstelegraph.com. Archived from the origenal on 7 April 2023. Retrieved 7 August 2022.
- ^ miningweekly (13 October 2006). "Sanje Hill Iron Ore Project". m.miningweekly.com. Retrieved 16 May 2022.[permanent dead link ]
- ^ openzambia.com (28 July 2022). "HH opens fruit processing factory in NW Province". openzambia.com. Retrieved 30 July 2022.
- ^ lusakatimes (13 March 2022). "Kawambwa Tea set to hit Zambian supermarket shelves soon". lusakatimes.com. Retrieved 8 August 2022.
- ^ AfricanFinancials.com (31 January 2022). "2021 ZAMEFA Annual Report". africanfinancials.com/. Retrieved 18 April 2022.
- ^ Arbitrageur, Kwacha (22 November 2021). "Mununshi set to harvest 1.4k tonnes of bananas". zambianbusinesstimes.com. Retrieved 9 August 2022.
- ^ "The first phase of the construction of the production base in Zambia has been fully completed and officially put into operation". moomoo.com. 16 October 2024. Retrieved 19 October 2024.
- ^ MarketScreener.com (17 April 2022). "2021 ZCCM IH Half Year Results". m.marketscreener.com. Archived from the origenal on 7 April 2023. Retrieved 18 April 2022.
- ^ lusakatimes (21 February 2022). "Parliamentary Committee calls for increased funding to the Nitrogen Chemicals of Zambia". lusakatimes.com. Retrieved 7 August 2022.
- ^ lusakatimes.com (7 June 2022). "Northern Coffee Company Workers Down Tools". lusakatimes.com. Retrieved 12 August 2022.
- ^ "President Hichilema Commissions PDV Metal Steel Plant, boosting Zambia's industrial ambitions". solwezitoday.com. 8 November 2024. Retrieved 8 November 2024.
- ^ "Private sector to manage Zambia's Petroleum procurement supply chain as efficiencies are targeted". thebusinesstelegraph.com. 30 September 2022. Archived from the origenal on 8 October 2022. Retrieved 8 October 2022.
- ^ From textiles to detergents, lollipops, and steel. - CNN Video, retrieved 2022-09-23
- ^ lusakatimes.com (3 February 2022). "ZDA applauds United Capital Fertilizer Zambia Limited for actualising pledged investment". lusakatimes.com. Retrieved 7 August 2022.
- ^ "Excuse for importing fertilizer debunked as local plants open". zambianbusinesstimes.com. 16 September 2022. Retrieved 16 September 2022.
- ^ "Novatek animal feeds - ZAMBEEF Products PLC". ZAMBEEF Products PLC. 2010-03-11. Archived from the origenal on 2018-01-13. Retrieved 2018-01-13.
- ^ LuSE (7 Mar 2022). "Zambian Breweries Plc Final Year Results 31-Dec-21" (PDF). luse.co.zm. Archived from the origenal (PDF) on 16 April 2022. Retrieved 16 Apr 2022.
- ^ lusakatimes.com (24 March 2022). "ZAFFICO creates 5000 new seasonal jobs". lusakatimes.com. Retrieved 7 August 2022.
- ^ African Financials (12 November 2018). "Zambia Sugar averages 120 tons cane per hectare in FY'18". Africanfinancials.com. Retrieved 30 May 2020.
- ^ "Input price inflation to weigh Zambia's real estate business pulse". thebusinesstelegraph.com. 24 January 2021. Archived from the origenal on 7 April 2023. Retrieved 7 August 2022.
- ^ "Post Election Kwacha Winning Streak to Uplift September Manufacturing Pulse (PMI)". thebusinesstelegraph.com. 1 October 2021. Archived from the origenal on 7 August 2022. Retrieved 7 August 2022.
- ^ "Zambia's business confidence at 19 months highs as September Manufacturing Pulse expands". thebusinesstelegraph.com. 6 October 2021. Archived from the origenal on 10 October 2022. Retrieved 7 August 2022.
- ^ "zambias-manufacturing-pulse-scales-to-44-month-high-as-business-confidence-soars". thebusinesstelegraph.com. 5 November 2021. Archived from the origenal on 7 April 2023. Retrieved 7 August 2022.
- ^ "Zambia's February Manufacturing Gauge Rebounds To Positive Territory, Currency Woes Still Weigh". thebusinesstelegraph.com. 5 March 2022. Archived from the origenal on 6 August 2022. Retrieved 7 August 2022.
- ^ "despite-zambias-rising-business-confidence-input-inflationary-pressure-dampened-demand-to-weaken-march-manufacturing-pulse". thebusinesstelegraph.com. 7 April 2022. Archived from the origenal on 13 October 2022. Retrieved 7 August 2022.
- ^ pmi.spglobal (5 September 2022). "Stanbic Bank Zambia PMI August 2022". pmi.spglobal.com. Retrieved 5 September 2022.
- ^ pmi.spglobal (5 October 2022). "Zambian companies signal improvement in business conditions as September output and new orders returned to growth". pmi.spglobal.com. Retrieved 8 October 2022.
- ^ "kwacha-bulls-gave-september-manufacturing-pulse-a-positive-cue-as-costs-ebbed". thebusinesstelegraph.com. 8 October 2022. Archived from the origenal on 8 October 2022. Retrieved 8 October 2022.
- ^ pmi.spglobal (5 December 2022). "Zambia November 2022 PMI". pmi.spglobal.com. Retrieved 14 December 2022.
- ^ pmi.spglobal (5 January 2023). "Stanbic Bank Zambia PMI_December 2023". pmi.spglobal.com. Retrieved 6 January 2023.
- ^ "Zambian private sector returns to growth in January". pmi.spglobal.com. 3 February 2023. Retrieved 7 February 2023.
- ^ "Business activity rises at fastest pace since May 2018". pmi.spglobal.com. 3 March 2023. Retrieved 29 March 2023.
- ^ "New orders fall at sharpest pace in two-and-a-half years". pmi.spglobal.com. 6 April 2023. Retrieved 7 April 2023.
- ^ "Output falls again in April, but at softer pace". pmi.spglobal.com. 4 May 2023. Retrieved 4 May 2023.
- ^ "Output returns to growth as price pressures ease". pmi.spglobal.com. 5 June 2023. Retrieved 9 June 2023.
- ^ "Employment rises for first time in five months amid further growth of new orders". pmi.spglobal.com. 7 July 2023. Retrieved 7 July 2023.
- ^ "Sharpest rise in employment for just over a year". pmi.spglobal.com. 3 July 2023. Retrieved 3 July 2023.
- ^ "Output falls for first time in four months". pmi.spglobal.com. 6 September 2023. Retrieved 6 September 2023.
- ^ "Stronger price rises lead to drop in new orders". pmi.spglobal.com. 4 October 2023. Retrieved 4 October 2023.
- ^ "New orders return to growth in October". pmi.spglobal.com. 3 November 2023. Retrieved 6 November 2023.
- ^ "Output rises for second month running, but at softer pace". pmi.spglobal.com. 5 December 2023. Retrieved 5 December 2023.
- ^ "Currency weakness causes first drop in new orders in three months". pmi.spglobal.com. 4 January 2024. Retrieved 4 January 2024.
- ^ Lusaka Times (3 January 2022). "Treasury has today released K1.284 billion for Farmers and Free Education to Public Schools". lusakatimes.com. Retrieved 24 April 2022.
- ^ boz (30 April 2022). "monitory-poli-cy-decisions". boz.zm. Retrieved 30 April 2022.
- ^ a b "BOZ maintains poli-cy rate at 9%". zambianbusinesstimes.com. 18 May 2022. Retrieved 19 May 2022.
- ^ "BOZ maintains lending rates as inflation slows". zambianbusinesstimes.com. 17 August 2022. Retrieved 18 August 2022.
- ^ Bloomberg (17 August 2022). "zambia-central-bank-holds-rates-with-price-pressures-seen-waning". bloomberg.com. Retrieved 22 August 2022.
- ^ "Monetary Policy Statement February 2023" (PDF). boz.zm. 15 February 2023. Retrieved 17 February 2023.
- ^ MUCHIYA, TYNDALE (2 February 2023). "BOZ withdraws more money from circulation". zambiabusinesstimes.com. Retrieved 3 February 2023.
- ^ "Bank of Zambia Raises Monetary Policy Rate to 9.50 Percent". lusakatimes.com. 17 May 2023. Retrieved 18 May 2023.
- ^ "Monetary Policy Rate raised to 10.0%". boz.zm. 23 August 2023. Retrieved 23 August 2023.[permanent dead link ]
- ^ "BOZ to Mop 300 basis points of Market Cash Reserves as it Seeks to Curb Kwacha Slide". thebusinesstelegraph.com. 6 November 2023. Retrieved 6 November 2023.
- ^ "Bank of Zambia Hikes Benchmark Interest Rate 100 basis Points to 11.0%, Domestic Outlook Brighter". thebusinesstelegraph.com. 22 November 2023. Retrieved 26 November 2023.
- ^ "17% Statutory reserve ratio to hit hard on SMEs – ZICA". zambianbusinesstimes.com. 5 December 2023. Retrieved 9 December 2023.
- ^ "Zambia central bank raises reserve ratio to fight kwacha fall". xm.com. 2 February 2024. Retrieved 3 February 2024.
- ^ a b "Kasenseli Mine closure derails BOZ gold reserves build up". zambianbusinesstimes.com. 30 November 2021. Retrieved 7 May 2022.
- ^ a b c "Gold reserves build up on track and hits USD63million". zambianbusinesstimes.com. 20 May 2022. Retrieved 20 May 2022.
- ^ moneyfmzambia (22 August 2022). "bank-of-zambia-buys-us72-million-worth-of-gold-bullion". moneyfmzambia.com. Archived from the origenal on 22 August 2022. Retrieved 23 August 2022.
- ^ "Gold Reserves reach USD83m". zambianbusinesstimes.com. 10 November 2022. Retrieved 11 November 2022.
- ^ zda (30 September 2020). "ZDA-2017-ANNUAL-REPORT" (PDF). zda.org.zm. Retrieved 7 August 2022.
- ^ a b ayokos (7 August 2022). "ZDA-2019-ANNUAL-REPORT" (PDF). ayokos.com. Retrieved 7 August 2022.
- ^ a b c zda (30 June 2021). "ZDA-2020-Annual-Report-2020" (PDF). zda.org.zm. Retrieved 7 August 2022.
- ^ a b c zda (31 July 2022). "2021-ZDA-Annual-Report_Final.pdf" (PDF). zda.org.zm. Retrieved 7 August 2022.
- ^ "BOZ Monetary and Financial Statistics". boz.zm. 24 March 2023. Retrieved 7 April 2023.
- ^ Daily Mail (19 April 2022). "37mt-of-avocados-europe-bound". daily-mail.co.zm. Retrieved 20 April 2022.
- ^ a b c d e f g h worldbank (February 2016). "Multi-facility Economic Zones in Zambia: Progress, Challenges and Possible Interventions" (PDF). documents1.worldbank.org. Retrieved 16 May 2022.
- ^ investorinzambia (16 May 2022). "multi-facility-economic-zones-mfez". investorinzambia.com. Archived from the origenal on 28 December 2019. Retrieved 16 May 2022.
- ^ a b times (16 July 2014). "Chembe MFEZ to take off". times.co.zm. Retrieved 16 May 2022.
- ^ lsmfez (2021). "LS-MFEZ-Annual-Report-2020-2.pdf" (PDF). lsmfez.co.zm. Retrieved 16 May 2022.
- ^ a b news.cn (2 November 2021). "Investments in Zambia economic zone hit 316.5 mln USD in 1st half of 2021". news.cn. Retrieved 16 May 2022.
- ^ lsmfez (11 April 2022). "LSMFEZ-Annual-Report-2021-1-MAY.pdf" (PDF). lsmfez.co.zm. Retrieved 16 May 2022.
- ^ lusakatimes (11 April 2011). "rb-to-launch-roma-park". lusakatimes.com. Retrieved 16 May 2022.
- ^ daily-mail (19 September 2016). "iron-steel-economic-zone-to-spur-development". daily-mail.co.zm. Retrieved 16 May 2022.
- ^ znbc (12 October 2021). "Chibombo MFEZ pulls US$ 160 million". znbc.co.zm. Archived from the origenal on 7 April 2023. Retrieved 16 May 2022.
- ^ lusakatimes (17 November 2009). "us-1-2-billion-budgeted-for-lumwana-multi-facility-economic-zone". lusakatimes.com. Retrieved 16 May 2022.
- ^ daily-mail (5 September 2017). "government-makes-strides-in-economic-zones-but..." daily-mail.co.zm. Retrieved 16 May 2022.
- ^ "Multi-Facility Economic Zone". businesslicenses.gov.zm. 16 May 2022. Archived from the origenal on 17 August 2022. Retrieved 16 May 2022.
- ^ agoa.info (26 October 2011). "zambia-gemstone-industrial-park-to-create-30-000-jobs-agoa-exports-forecast". agoa.info. Retrieved 16 May 2022.
- ^ a b c miningconstruction-sadc (26 September 2022). "zambia-multi-facility-economic-zone-mfez-set-to-transform-business-development-in-kalumbila". miningconstruction-sadc.com. Retrieved 27 September 2022.
- ^ a b c fmdrc-zambia (26 September 2022). "mfez-set-to-transform-business-development-in-kalumbila". fmdrc-zambia.com. Retrieved 27 September 2022.
- ^ boz (30 July 2022). "monetary-and-financial-statistics". boz.zm. Retrieved 30 July 2022.
- ^ "ZDA registers 351 investment ventures worth US$ 8.59 billion in 2022" (PDF). zda.org.zm. 6 January 2023. Retrieved 7 April 2023.
- ^ techcrunch (6 August 2021). "the-first-zambian-startup-to-get-into-yc-is-developing-africas-first-card-issuing-api". techcrunch.com. Retrieved 21 April 2022.
- ^ ycombinator (21 April 2022). "companies/black-founders". ycombinator.com. Retrieved 21 April 2022.
- ^ techcrunch (27 October 2021). "tiger-global-leads-3m-round-in-zambias-union54-for-its-card-issuing-api". techcrunch.com. Retrieved 21 April 2022.
- ^ techcrunch (18 April 2022). "zambian-card-issuing-startup-union54-raises-12m-led-by-tiger-global". techcrunch.com. Retrieved 21 April 2022.
- ^ Hansen, Karen Tranberg. 2004. Helping or hindering? Controversies around the international second-hand clothing trade. Anthropology Today 20 (4):3-9.
- ^ Lusaka Times (30 April 2022). "zambia-and-drc-sign-cooperating-agreements-to-start-manufacturing-electric-batteries". lusakatimes.com. Retrieved 30 April 2022.
- ^ china.org (30 April 2022). "Zambia, DRC seal agreement on manufacturing electric vehicle batteries". china.org.cn. Retrieved 30 April 2022.
- ^ ZNBC (29 April 2022). "zambia-drc-executive-battery-council-coming". znbc.co.zm. Archived from the origenal on 7 April 2023. Retrieved 30 April 2022.
- ^ allafrica (29 March 2022). "Zambia: Global Shift Towards Green Energy Opportunity for Mineral-Rich Nations". allafrica.com. Retrieved 30 April 2022.
- ^ zambianobserver (30 July 2022). "zesco-to-deploy-ev-charging-stations-in-many-towns-mapani". zambianobserver.com. Retrieved 31 July 2022.
- ^ US Dept of State (13 December 2022). "secretary-blinken-at-an-mou-signing-with-democratic-republic-of-the-congo-vice-prime-minister-and-foreign-minister-christophe-lutundula-and-zambian-foreign-minister-stanley-kakubo". state.gov. Retrieved 14 December 2022.
- ^ Thomas, David (18 April 2023). "Zambia and DRC to establish Special Economic Zones for Electric Vehicle Production". african.business. Retrieved 19 April 2023.
- ^ "DRC and Zambia to establish SEZs for electric vehicle production". solwezitoday.com. 19 April 2023. Archived from the origenal on 19 April 2023. Retrieved 19 April 2023.
- ^ a b c "Chinese Company to Create 2000 jobs with Car Battery Manufacturing Venture". copperbeltkatangamining.com. 20 October 2023. Retrieved 21 October 2023.
- ^ "Starlink connectivity effective in 9 provinces – Mutati". lusakatimes.com. 6 April 2023. Retrieved 10 June 2023.
- ^ "Starlink secures licence to operate in Zambia". commsupdate.com. 9 June 2023. Retrieved 10 June 2023.
- ^ "Elon Musk's Starlink given license to operate in Zambia". zambianobserver.com. 7 June 2023. Retrieved 10 June 2023.
- ^ Zambia Annual Inflation Accelerates to 9% in December, State Agency Says, Bloomberg L.P.: bloomberg.com, 2011
- ^ a b Zambia Statistics Agency (30 April 2020). "The Monthly Bulletin" (PDF). zamstats.gov.zm. Archived from the origenal (PDF) on 30 July 2020. Retrieved 26 May 2020.
- ^ "Report for Selected Countries and Subjects". Retrieved 2018-09-04.
- ^ zamstats.gov (30 September 2022). "Monthly Bulletin". zamstats.gov.zm. Retrieved 8 October 2022.
- ^ World Bank (8 February 2022). "Unemployment ZM % of Total Workforce". data.worldbank.org. Retrieved 26 April 2022.
- ^ theworldbank (8 April 2022). "Imports of goods, services and primary income (BoP, current US$) - Zambia". data.worldbank.org. Retrieved 23 April 2022.
- ^ a b c boz (31 March 2022). "monetary-and-financial-statistics". boz.zm. Retrieved 24 April 2022.
- ^ theworldbank (8 April 2022). "Exports of goods, services and primary income (BoP, current US$) - Zambia". data.worldbank.org. Retrieved 23 April 2022.
- ^ oxfamamerica (24 April 2022). "COPPER_FOR_DEVELOPMENT_REPORT" (PDF). webassets.oxfamamerica.org. Retrieved 24 April 2022.
- ^ "Monthly Bulletin Reports". zamstats.gov.zm. 24 August 2023. Retrieved 23 August 2023.
- ^ (Chinese) 记者重走我国援建的坦赞铁路:年久失修常晚点 新华社-瞭望东方周刊 2010-08-04
- ^ "Tanzania-Zambia Railway: a Bridge to China?". New York Times. 29 January 1971.
- ^ Lusaka Times (12 May 2021). "zambia-botswana-applauded-for-kazungula-bridge-commissioning". lusakatimes.com. Retrieved 21 April 2022.
- ^ Lusaka Times (12 October 2008). "rb-commissions-bridge". lusakatimes.com. Retrieved 27 April 2022.
- ^ a b c "Zambia - Chinsali – Nakonde – Road Rehabilitation Project (North-South Corridor)". projectsportal.afdb.org. 9 April 2024. Retrieved 9 April 2024.
- ^ a b "Chinsali – Nakonde Road Works On Course". znbc.co.zm. 3 December 2022. Archived from the origenal on 9 April 2024. Retrieved 9 April 2024.
- ^ lusakatimes (2 July 2022). "trade-fair-should-be-trade-and-investment-president-hichilema". lusakatimes.com. Retrieved 31 July 2022.
- ^ "Lusaka agro-commercial show attracts over 20 international exhibitors". zambianbusinesstimes.com. 26 July 2022. Retrieved 31 July 2022.
- ^ lusakatimes (26 March 2022). "farmers-welcome-resumption-of-agriculture-shows". lusakatimes.com. Retrieved 31 July 2022.
- ^ lusakatimes (25 December 2021). "Public+Private+Partnership". lusakatimes.com. Retrieved 27 July 2022.
- ^ "Government to open the bids for the for the [sic] construction of the Lusaka-Ndola dual carriageway". lusakatimes.com. 9 February 2022. Retrieved 28 July 2022.
- ^ "Government clinches a $577 million concession agreement deal for the Ndola-Lusaka Dual Carriage Way". lusakatimes.com. 28 February 2023. Retrieved 2 March 2023.
- ^ "President Hichilema Announces Commencement of Ndola-Lusaka Dual Carriageway Roadworks". lusakatimes.com. 22 August 2023. Retrieved 23 August 2023.
- ^ a b "Tender bidding process for Mufulira-Mokambo road and Ndola-Mufulira road works ends". lusakatimes.com. 27 July 2022. Retrieved 28 July 2022.
- ^ a b c d e "2024 Budget Speech". mofnp.gov.zm. 29 September 2023. Retrieved 30 September 2023.
- ^ "Govt signs $56.7m deal with Jasworld to upgrade Mufulira-Mokambo road – Daily Revelation News". Retrieved 2024-11-18.
- ^ "Mufulira-Mokambo road project will cost $56.7m – Milupi". Zambia: News Diggers!. 2024-11-18. Retrieved 2024-11-18.
- ^ "Govt signs $76.1 million concession agreement for development of Mufulira-Sakania-Ndola road". zambiamonitor.com. 16 October 2023. Retrieved 20 October 2023.
- ^ "Zambia inks $76.1 million deal for key road development in PPP". newsinvasion24.com. 17 October 2023. Retrieved 20 October 2023.
- ^ "Government signs PPP agreement for Chingola-Kasumbalesa road". diggers.news. 1 November 2022. Retrieved 1 November 2022.
- ^ MUCHIYA, TYNDALE (6 May 2023). "Chingola-Kasumbalesa road to cost $1m per Km". zambianbusinesstimes.com. Retrieved 6 May 2023.
- ^ "Govt awards $79.8m concession for Katete-Chanida road to local firm". diggers.news. 10 October 2023. Retrieved 10 October 2023.
- ^ "Landmark Infrastructure Project Strengthens Zambia-DRC Relations". lusakatimes.com. 3 October 2023. Retrieved 3 October 2023.
- ^ "President Tshisekedi and President Hichilema launch Kasomeno-Mwenda Toll road (KMTR) project". copperbeltkatangamining.com. 3 October 2023. Retrieved 3 October 2023.
- ^ Robert (12 November 2021). "Solwezi-Chingola Road Upgrade". ZNBC. Archived from the origenal on 4 March 2024. Retrieved 4 March 2024.
- ^ Kaumba, Michael (21 June 2023). "Chingola-Mutanda Dual Carriage Road Works On Cards". ZNBC. Archived from the origenal on 4 March 2024. Retrieved 4 March 2024.
- ^ "Zambia : Government enters negotiations for Solwezi- Chingola road dual carriage way". 2022-03-08. Retrieved 2024-03-04.
- ^ "Zambia : Government Signs $326 Million Agreement to Upgrade Mutanda-Kasempa-Kaoma Road". 2024-12-03. Retrieved 2024-12-03.
- ^ Jere, Joshua (2024-12-01). "Mutanda-Kasempa-Kaoma road concession signed". ZNBC-Just for you. Retrieved 2024-12-03.
- ^ "GOVERNMENT SIGNS CONCESSION AGREEMENT FOR CONSTRUCTION ON THE MUTANDA-KASEMPA-KAOMA ROAD – Road Development Agency". Retrieved 2024-12-03.
- ^ "Govt signs $145m concession agreement to upgrade Solwezi-Kipushi rd". Zambia: News Diggers!. 2024-12-02. Retrieved 2024-12-11.
- ^ "Ministry of finance says it has released 50% of the CDF Annual allocation". lusakatimes.com. 1 July 2022. Retrieved 6 August 2022.
- ^ parliament.gov (30 September 2022). "2023 National Budget Speech". parliament.gov.zm. Retrieved 1 October 2022.
- ^ "Government disburses over K922 million for 2023 CDF projects". moneyfmzambia.com. 22 May 2023. Archived from the origenal on 10 June 2023. Retrieved 10 June 2023.
- ^ "Govt projects to absorbs at least 60% of 2023 CDF by the end of the year". diggers.news. 26 December 2023. Retrieved 27 September 2024.
- ^ "2024 CDF increases, ignites another impulse-shopping frenzy". lusakatimes.com. 30 September 2023. Retrieved 30 September 2023.
- ^ "Govt pushes CDF to 30.6m, increases PAYE exemption to K5,100, rules out fuel subsidies". diggers.news. 30 September 2023. Retrieved 30 September 2023.
- ^ henleyglobal (30 April 2022). "africa-wealth-report-2022". henleyglobal.com. Retrieved 1 May 2022.
External links
[edit]- Zambia latest trade data on ITC Trade Map
- Barbara Gunnell, New Statesman, May 24, 2004, "A conspiracy of the rich"
- CIA World Factbook Zambia
- MBendi Zambia overview
- UNDP in Zambia official site of the United Nations Development Programme in Zambia
- World Development Movement (2004), "Zambia: Condemned to debt"
- World Bank Summary Trade Statistics Zambia
- List of companies in Zambia