AGP Executive Report
Last update: 9 hours agoDebt & Budget: Zambia’s external debt fell 5% to US$15.35 billion by June after a Eurobond buyback that saved an estimated US$275 million; total central government debt stood at US$30.89 billion. The 2027 budget’s new 39.5% top PAYE rate for monthly earnings above K37,000 has drawn criticism from unions and the JCTR, which says government should tax mining windfalls instead. Mining Investment: Barrick is advancing a US$2 billion Zambia expansion, with US$795 million committed and decades of production ahead. The Zambia–Lobito railway is also moving towards financial close, with preferred bidders selected for sections of the route. Power Supply: Zesco plans to expand generation capacity to 11,630MW by 2030, leaning on solar and thermal power to reduce drought risks; a US$1.2 billion Zambia–Tanzania interconnector is planned to strengthen regional electricity trade.
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