AGP Executive Report

Mining on the frontburner: Zambia’s election season is sharpening focus on the mining sector, with investors watching whether the August 13 vote will keep the push for modernisation—especially as uranium and copper projects line up, including Atomic Eagle’s Muntanga plans and fresh momentum around Dumbwa copper drilling. Politics and rights: Parliament’s dissolution has kicked the country into full campaign mode, but the debate is getting hotter—checks and balances are being questioned after an opposition leader’s ballot access was tied to police custody, while a proposed Public Gatherings Bill amendment would raise the minimum for regulated political gatherings from 3 to 7. Macroeconomic stability: The IMF says Zambia has made “substantial progress” on inflation, fiscal performance and reserves, even as challenges remain. Trade and infrastructure: East Africa is being positioned as the new trade engine, with Tanzania’s port and rail build-out and regional connectivity expanding. Business pipeline: Zambia Sugar’s $76m Twazabuka project is on track for commissioning in August 2027.

Election Season Politics: Zambia’s Parliament has dissolved with just 90 days to August 13 polls, and the opposition is pushing harder on unity—People’s Party has officially joined the Tonse Pamodzi Alliance while Makebi Zulu urges rivals to drop solo bids and back one front. Campaign Noise vs Delivery: Commentary is calling out a “still no coherent message” phase, with voters increasingly judging outcomes like fuel and food costs rather than promises. Macroeconomic Credibility: The IMF says Zambia has made substantial progress on stability after a Lusaka mission—inflation back in the 6–8% band and reserves rising—giving government fresh talking points ahead of elections. Business & Industry: Zambia Sugar’s $76m Twazabuka warehousing and packaging project is set for commissioning in August 2027, promising longer supply cover and 150+ jobs. Health: A new Commonwealth compendium highlights cervical cancer elimination efforts, focusing on vaccination, screening and treatment as budgets tighten.

Elections & Unity Push: Vice President Mutale Nalumango urged traditional leaders to use the Lwanza platform to promote love, unity and national identity, warning that election competition must not fuel violence or hate speech. IMF Watch: The IMF says Zambia has made “substantial progress” restoring macroeconomic stability after a Lusaka mission—bringing inflation to 6.8% in April and lifting gross reserves to US$6.4bn—while talks on a new support programme are set to resume after August elections. Mining & Jobs: Zambia Sugar’s US$76m Twazabuka project is on track for completion and commissioning in August 2027, with a modern warehousing and packaging facility expected to create 150+ jobs. Regional Trade Moves: Russia’s FESCO says it has completed its first direct container shipment to Dar es Salaam via Nhava Sheva, aiming to deepen trade links across Africa. Sports Politics: Former Chipolopolo winger Clifford Mulenga opposed FAZ plans to expand the Super League from 18 to 20 teams, arguing it could stretch already struggling clubs.

IMF Update: The IMF says Zambia has made “substantial progress” restoring macroeconomic stability after a two-week mission—bringing inflation back to the 6–8% target band (6.8% in April) and lifting gross reserves to about US$6.4bn, while debt restructuring now covers roughly 94% of the perimeter. Debt Deal: Zambia also signed a US$460m debt restructuring agreement with Israel, extending obligations to 2043 to ease debt-service pressure and create fiscal space. Mining & Industry: Zambia Sugar’s US$76m Twazabuka project is on track for completion and commissioning in August 2027, with plans for 150+ jobs and improved storage and supply coverage. Energy & Climate: At a Nairobi parliamentary forum, Zambia highlighted its solar-by-constituency model—community-owned 2MW plants in every constituency—as a practical answer to energy poverty while pursuing climate goals. Sports Governance: Former Chipolopolo winger Cliford Mulenga opposes FAZ’s move to expand the Super League from 18 to 20 teams, warning it could strain clubs and weaken competition. Regional Trade: Russia’s FESCO says it has completed a new direct container corridor to Dar es Salaam, linking Russian exporters to African markets via a route through Nhava Sheva.

Tech & Industry: Zimbabwe has unveiled its first locally manufactured laptop, the Avantis Parote 1030i, a push meant to cut reliance on imports and speed up digital transformation and jobs. Zambia–IMF & Debt: In Lusaka, the IMF says talks on a new Zambia programme are progressing and should resume after August elections, while Zambia and Israel signed a US$460m debt restructuring deal to ease service pressure and create fiscal space. Energy & Food Security: At the Africa Forward Summit in Nairobi, clean energy and infrastructure commitments were announced, but the wider region still faces fuel and fertilizer shocks tied to the Iran conflict and shipping disruptions. Mining & Trade: Zambia’s Chamber of Mines praised Mopani and KCM for strong mine-rescue results, and Zambia began easing sulphuric acid export curbs to the DRC as Copperbelt supplies improve. Elections & Governance: Home Affairs Minister Jack Mwiimbu urged professionalism ahead of polls, while election-related mobilisation stories and public comment on trade rules kept the political and policy spotlight on.

Zambia Election Mode: Parliament has dissolved, kicking off a 90-day countdown to the August 13 general election, with nominations for parliamentary and local seats set for May 18–19 and President Hakainde Hichilema urging ECZ and parties to keep the race peaceful and credible. Monetary Policy & Currency: The Bank of Zambia cut the Monetary Policy Rate to 13.25% as the kwacha strengthened and reserves hit record levels, feeding into easing inflation. Mining & Jobs: Government says Q1 2026 mining performance improved, with copper output up at major mines and emerald production surging, boosting investor confidence. Trade & Standards: Zambia signed deals to tighten export certification and quantify trade through digital supply-chain finance. Digital Health Push: The tech ministry says digital links are now helping remote clinics and health workers save lives. Regional Energy Pressure: South Africa’s electricity export revenue estimate and the wider fuel-price shock across the region keep costs in focus. Copperbelt Watch: Koryx Copper issued a correction on Haib drill results, clarifying timing for its next assessment.

Export Standards Push: Zambia is signing new deals to tighten product certification and standardisation, including a digital supply-chain finance platform to quantify exports more accurately for the first time, plus support to strengthen national assessment and certification infrastructure. Water for Mining Towns: A $33m World Bank-backed programme is moving into implementation support in North-Western Province, targeting cleaner water and sanitation for growth centres and utilities across several provinces. Mining Momentum: Mining updates point to resilience in Q1 2026, with large-scale copper output up and emerald production surging, feeding foreign exchange gains and helping the Kwacha. Monetary Policy Shift: The Bank of Zambia cut the Monetary Policy Rate to 13.25%, citing a stronger Kwacha, record reserves and inflation easing. Elections and Governance: President Hichilema urged the ECZ and political parties to deliver free, fair, peaceful polls on 13 August, while also holding a final Cabinet farewell ahead of Parliament’s dissolution. Trade Diplomacy: Zambia launched a Zambia–Saudi Arabia Business Council to deepen private-sector trade and investment ties.

Tobacco Control Push: Zambia’s Parliament has unanimously passed the Tobacco Control Bill No. 40 of 2025, clearing it for possible presidential assent—aimed at cutting tobacco and nicotine harms through advertising bans, tighter sales rules, smoke-free public places, and limits on government dealings with the industry. Monetary Policy Signal: The Bank of Zambia cut the Monetary Policy Rate to 13.25% as inflation eases, projecting 6.8% for 2026—an election-period nudge that could gradually lower loan costs. ECZ Leadership Reset: President Hichilema swore in ECZ Vice Chairperson Vincent Mukanda and Commissioner Zevwanji Sinkala, urging credible, peaceful elections. Reserves Boost: Zambia’s gross international reserves hit a historic high of US$6.5bn, strengthening confidence and foreign-currency buffers. Mining & Power: Copper output fell 4.27% in Q1 2026, while energy diversification continues with new solar support for mining stability. Regional Trade Angle: China’s zero-tariff move for African goods is already being framed as a manufacturing opportunity for Zambia and the wider continent.

Monetary Policy Pivot: Bank of Zambia cut the Monetary Policy Rate by 25 basis points to 13.25%, citing cooling inflation (6.8% in April) and a steadier kwacha, while warning the Iran conflict could still push up fuel and food costs. Election Economy: The rate move lands as Parliament is set to dissolve, with hopes of easing loan costs even if the political mood stays sensitive. Manufacturing Comeback: Mulungushi Textiles in Kabwe reopened and is now swamped with orders, with government linking the revival to jobs and reduced import dependence. Mining Power Push: CEC says solar projects like Itimpi Two are helping stabilise electricity for Copperbelt mines as Zambia targets higher copper output. Copper Reality Check: Zambia’s copper output fell 4.27% in Q1 2026 to about 208,992 tonnes, though large-scale firms showed growth. Digital Identity: Zambia’s secure digital ID ecosystem took centre stage at id4Africa 2026, with a World Bank-backed ecosystem approach. Health Supply Gap: HIV drug supplies are falling short, raising pressure on prevention and treatment programmes. Geology Watch: Scientists say a new tectonic boundary may be forming in Zambia—another reminder that risk isn’t only economic.

Clean Energy Deals: France and African leaders in Nairobi unveiled $11bn+ in renewable energy commitments, including a Kenya Airways–Rubis Energy plan for Africa’s first sustainable aviation fuel facility in Kenya. Summit Momentum: The Africa CEO Forum in Kigali is being framed as “Scale or Fail,” pushing the idea that Africa must control more of the value from capital, tech and supply chains. Zambia’s Macro: The Bank of Zambia cut its policy rate to 13.25% as inflation stays within target, citing a steadier kwacha and a better maize outlook despite Iran-war risks. Energy & Industry: Zambia’s mining and power story keeps moving—new uranium drilling results expand Atomic Eagle’s Chisebuka high-grade zone, while Eskom and Energy Vault sign a gravity storage framework that could extend across SADC, including Zambia. Elections & Security: China handed Zambia 80 vehicles to strengthen election-period security operations. Governance & Rights: RightsCon’s cancellation in Zambia is still drawing international backlash over alleged external pressure. Local Business: Lusaka spare parts traders warn foreign retail competition is squeezing local operators.

Africa-Forward Summit Push: President Hichilema used the Africa Forward Summit in Nairobi to urge investors to back Zambia’s reforms, spotlighting energy, youth skills and cheaper financing as ODA declines. France Investment Pivot: Macron wrapped up the summit by unveiling €23bn (about $27bn) for Africa across energy, AI and agriculture, while Kenya’s Ruto stressed “sovereign equality” over dependency. Mining Oversight Boost: Zambia deployed five new vehicles to regional offices to tighten artisanal and small-scale mining inspections and speed up formalisation. Roads for Trade: Government launched construction of the $383m Mpongwe Road project, with local subcontracting and jobs promised. Local Business Pressure: Lusaka CBD spare-part traders raised alarms over foreign retail competition and asked for stronger checks on licences and tax compliance. RightsCon Cancelled: Global rights groups condemned Zambia’s abrupt cancellation of RightsCon 2026, citing external pressure tied to Taiwanese participation. Politics Watch: UPND-linked Obvious Mwaliteta says 2026 could be among Zambia’s most one-sided presidential races. Energy & Power: Parliament adjourned sine die ahead of dissolution, while Zambia’s clean power push continues with major solar developments.

Parliament Shock: Zambia’s Public Holidays National Assembly Amendment Bill No. 76 of 2026 has been withdrawn from Parliament after MPs questioned changes that would affect how weekend holidays are observed. Digital Push: Zambia Airports Corporation (ZACL) and Copperbelt University (CBU) signed an MoU to build a locally driven ERP system to modernise airport operations. Productivity Drive: Labour Minister Brenda Tambatamba launched four productivity reports showing job creation from productivity tools, but warned skills gaps, limited finance and low tech adoption still hold back gains. Financial Inclusion: Bankers Association of Zambia says financial inclusion rose from 69.4% to 80.1% in 2025, driven largely by mobile banking. Energy Momentum: Sungrow says Zambia’s biggest single solar plant, the 136MW Itimpi Phase II, came online April 30, as Zambia also pushes more clean power. Governance & Compliance: ZRA moves to prosecute seven taxpayers for Smart Invoice non-use, while Parliament approved extra funding for ECZ. Regional Diplomacy: At the Africa–France summit in Nairobi, President Ruto called for win-win partnerships based on sovereign equality, not dependency.

Treasury Releases: Zambia’s Treasury disbursed K17.8bn in April—with K6.6bn for the public wage bill, K2.4bn for debt servicing and arrears, and K1.7bn for infrastructure including roads and rural electrification. Tax Crackdown: The ZRA has started court action against seven taxpayers for willful non-compliance with Smart Invoice rules, warning of fines up to K120,000 or jail. Health Policy Push: Government launched the 2026 National Health Policy and an implementation plan aimed at people-centred care and Universal Health Coverage. Nairobi Summit Politics: President Hakainde Hichilema heads to Nairobi for the Africa Forward Summit with France, where civil society is demanding “people-first” health reforms and leaders push for fairer risk pricing and better financing. Mining Update: Barrick says Zambia’s Lumwana expansion is on track, while First Quantum filed an updated technical report for La Granja. Energy Context: Kariba’s rehab is reported 94% complete, keeping regional power reliability in focus. Election Machinery: ECZ continues presidential supporter preprocessing ahead of nominations, as political parties jockey for ballot readiness.

Africa-France Summit: President Hakainde Hichilema heads to Nairobi for the Africa-France “Forward Africa Summit” to push Zambia’s priorities on fairer global finance, energy transition, green industrialisation, digital innovation, sustainable agriculture, health systems and coordinated climate action. Energy Security: The US$294m Kariba Dam rehabilitation is at 94% completion, with spillway gate refurbishment driving a target finish by end-2026 Q4. Education Reform: Government has launched the National Education Policy 2025, replacing the 1996 framework, and rolled out competence-based assessment tools. Local Governance Scrutiny: MPs warn councils are mishandling public funds—unsupported payments, weak controls, delayed projects and poor asset management—urging strict compliance with procurement and public finance laws. Consumer Debt Push: Zambia’s Consumer Credit Bill is expected to tackle consumer debt and improve fair lending practices. Clean Energy Drive: Zambia is accelerating solar investments to cut hydropower overreliance after drought-linked shortages. Corruption Message: UPND reiterates its commitment to fight corruption, with officials stressing investigative independence.

In the last 12 hours, Zambia’s political and policy debate has been dominated by election-period messaging and governance process. Socialist Party leader Dr Fred M’membe rejected public calls by opposition presidential candidate Brian Mundubile for parties to unite ahead of the August 13 polls, arguing that serious coalition-building requires structured engagement rather than media announcements. Related commentary also urged fairness and equal campaign conditions, while State House warned opposition leaders against assuming that attacking the President will automatically translate into sympathy—signalling a tougher stance on campaign rhetoric and conduct as the election approaches. Parliament also moved to extend sittings to clear outstanding business, indicating continued legislative activity into the pre-election period.

On the economic and development front, several items point to continuity in government planning while also highlighting sector-specific momentum. Government opened consultations for the 2027 National Budget and the Medium-Term Budget Framework (2027–2029), with submissions due by June 30, 2026, and framed the process around fiscal reforms and revenue mobilisation. In parallel, the Acting Minister of Foreign Affairs told the diplomatic community that Zambia will maintain uninterrupted business operations before, during and after the August 2026 elections, positioning “economic diplomacy” as a pillar of foreign policy. Energy and infrastructure also featured prominently: Zambia is targeting 10,000MW by 2030, and the Kariba Dam rehabilitation project—described as a $294 million lifeline—was reported to be in its final stretch (94% complete in the provided text), with completion expected in the fourth quarter of 2026.

There is also clear evidence of ongoing investment and industrial ecosystem-building, though much of it is framed as sector updates rather than a single breakthrough. First Quantum Minerals (FQM) partnered with the Solwezi Motor, Mining & Agriculture (MMA) Expo 2026, described as a platform to strengthen Zambia’s mining value chain and supplier development. In agriculture, Admarc sought a market for about 23,000MT of maize to replenish stocks, while commentary and analysis continued to focus on how digital finance and digital identity could affect public systems and funding models. Meanwhile, the broader regional energy-access narrative was reinforced by a Beyond the Grid Fund for Africa update stating that over 4.3 million people across Africa now have electricity access, with Zambia cited as among the strongest performers for completed connections.

Finally, the most politically sensitive thread in the wider 7-day coverage is the fallout from Zambia cancelling major human-rights and technology summits. While the cancellation debate is heavily represented across older articles in the range, the most recent provided evidence in this batch includes commentary alleging external pressure and questioning Zambia’s explanations—alongside broader concerns about press freedom and digital rights. However, within the last 12 hours specifically, the provided texts focus more on domestic election conduct, budget consultations, and infrastructure/energy delivery than on new developments in the RightsCon controversy—so the “latest” signal on that issue is comparatively thin in the most recent window.

In the last 12 hours, Zambia’s business and policy coverage is dominated by two themes: (1) efforts to improve economic “connectivity” and (2) tightening governance and regulation. On connectivity, the Lobito Corridor is framed as moving from blueprint to a “delivery test,” with AFP quoting the Lobito Atlantic Railway chief saying the project’s strategy is driven by operations rather than geopolitics. In parallel, Zambia is also mentioned in regional digital-integration moves: Ghana announced a pilot continental digital trade corridor with Rwanda and Zambia, focusing on mobile money interoperability, cross-border digital identity/KYC, and harmonised e-invoicing—aimed at enabling faster, lower-cost payments across African markets. On governance/regulation, Zambia’s Energy Regulation Board (ERB) is reported warning that building or operating energy facilities without permits/licenses is a serious legal offence, with enforcement including fines and closure.

Mining and energy-related business updates also feature prominently. Jubilee Metals reports a rise in saleable copper production in Zambia (nine months ended 31 March), citing progress at Roan and ramp-up of an expanded concentrate circuit after delays. Separately, the Minerals Regulation Commission angle is reinforced by coverage that the Mines and Minerals Development Minister has inducted board members for the MRC, with an emphasis on responsible mining, compliance, and attracting sustainable investment. There is also a practical “sector capability” signal from Zambia-linked rescue competition coverage: Singareni Collieries Company Limited (SCCL) is reported winning first prize in an international underground mines rescue category held in Zambia, underscoring skills and preparedness in the mining safety ecosystem.

Beyond mining, the last 12 hours include targeted economic-policy and institutional items that look more routine than headline-grabbing but still matter for business conditions. Government is reported to have relaxed maize export rules to boost private-sector trade, including allowing exporters to apply for permits, assess stock and demand, and export without the previously described controlled-export clearance steps. Financial-sector development is also visible through coverage of First National Bank (FNB) Ghana opening a private lounge (not Zambia-specific, but part of the broader regional banking push), while Zambia’s domestic political-business environment is reflected in commentary and endorsements ahead of 2026.

Older coverage from 3 to 7 days ago provides continuity on Zambia’s external-facing policy posture and regulatory/sovereignty debates, especially around digital rights and international engagement. Multiple reports say Zambia cancelled the RightsCon summit days before launch amid pressure linked to China/Taiwan issues, and related commentary continues to frame the episode as a sovereignty and governance dispute rather than a purely technical event. That background helps contextualise the more recent emphasis on regulation (ERB, MRC) and on building interoperable systems (digital trade corridor), suggesting a broader push to define Zambia’s operating rules—at home and across borders—though the most recent evidence is strongest on the digital and compliance fronts rather than on any single new Zambia-specific “major event.”