Experts Predict Continued Growth for Zambia’s Economy

Economic experts and analysts predict that Zambia’s economy will continue to grow, driven by a  recovery in key sectors such as mining and agriculture, and the appreciation of the Kwacha. 

According to PwC Zambia Country Senior Partner Andrew Chibuye: “The appreciation of the Kwacha in recent months, first and foremost, the mining sector is up over 10%, international crude oil prices have  moderated and the output of the agricultural sector means the country has less need to importing food and the need foreign exchange to deal with that.” 

The Economics Association of Zambia's National Secretary, Nicholus Mainza, concurred with Chibuye, noting that “When you pump in money as a government, you get the returns in high numbers, which helps a lot in terms of beneficial outcomes.”

Robert Mwale, Lead Public Finance Researcher at the Centre for Trade Policy Development, notes that the sectors which are propelling the growth of the economy will require more human labour, so what we will see is they absorb additional labour, which creates additional employment, which will result in greater disposable income for our citizens. 

A strong Kwacha is expected to ease inflationary pressures and reduce the cost of living. The latest World Investment Report by the UN Conference on Trade and Development ranks Zambia among Africa's top reform-driven economies. Finance Minister, Dr. Situmbeko Musokotwane, says the recognition underscores the strides being made to lay a strong foundation for sustained economic growth.