AGP Executive Report

Copper Output Push: Konkola Copper Mines (KCM) targets 300,000 tonnes of copper annually within three years, citing rising July output and renewed momentum as Vedanta stabilises operations—key for Zambia’s 2031 copper goal. Maize & Food Security: The Food Reserve Agency says it will export only surplus maize, while FRA has already paid over K6bn to farmers and Zambia’s mealie meal prices ease as carry-over stocks and bumper harvests strengthen supply. Regional Trade Links: Zambia’s surplus is drawing Kenyan demand, with talks on exporting about 10.8 million 90kg bags—balancing export ambition with domestic availability. Energy & Power Infrastructure: USTDA is inviting power-sector decision-makers from Angola, Botswana, Mozambique and Zambia to the US to modernise grids and boost procurement opportunities. Standards & Trade Costs: Delayed harmonisation of standards across Africa is still slowing goods movement under AfCFTA, raising costs for exporters and importers. China-Zambia Ties: Lusaka hosted a drone light show celebrating China-Zambia people-to-people exchanges, highlighting cooperation in mining, energy and technology. Governance Watch: Ibrahim warns Zambia’s institutions must not be squandered amid post-election tensions and concerns over arrests and court actions.

Maize & Food Security: FRA says it will only export surplus maize, not core stocks, as it discusses selling about 10.8 million 90kg bags to Kenya—while Zambia keeps enough grain for domestic needs. Mealie Meal Prices: With bumper harvest and carry-over stocks, mealie meal prices are easing (e.g., Eagles breakfast meal down to K175 on order and K185 retail), and Kenya is moving to buy large volumes. Debt & Fiscal Space: Zambia’s external debt service is set to fall to about US$900m a year from 2026, freeing room for priority spending after restructuring. Energy & Power Infrastructure: USTDA is inviting power-sector decision-makers from Angola, Botswana, Mozambique and Zambia to the US to modernize grids and boost procurement links. Solar Push: Africa could add 17GW of solar in 2026, with China supplying most modules, as decentralized systems drive growth. China-Zambia Tech & Tourism: A Lusaka drone light show celebrated people-to-people exchanges and highlighted cooperation in mining, energy and trade. Education Quality Watch: Ghana’s GTEC lists 100 unrecognised universities, including some operating in Zambia, warning students to verify recognition. Sports & Youth: Zambia begins rebuilding its U-17 squad with a 40-player camp ahead of the Region 5 Cosafa tournament.

Food Security & Prices: ZNS has cut Eagles mealie meal prices, with a 25kg breakfast bag now K175 on order (K185 retail) and roller meal K135 on order (K145 retail), as Zambia’s maize surplus and carry-over stocks strengthen supply. Maize Market Dynamics: FRA says it has paid over K6 billion to farmers and bought more than 1 million metric tonnes of maize since Aug 20, aiming to keep payments within three days and expand storage. Debt & Fiscal Space: Zambia’s annual external debt service is projected to drop to about US$900m from 2026 after restructuring, freeing resources for education, health, agriculture and infrastructure. Climate Risk for Agriculture: Southern Africa’s SARCOF-33 forecast warns of hotter, drier conditions and below-normal rainfall across parts of the region including southern Zambia, raising pressure on crops, water and livestock. Trade & Standards: Delayed harmonisation of standards is still raising trade costs and slowing movement of goods across African markets, complicating AfCFTA implementation. Energy & Power Infrastructure: USTDA plans to bring power-sector decision-makers from Angola, Botswana, Mozambique and Zambia to the US to explore grid modernisation partnerships. Governance & Institutions: Transparency International Zambia flags procedural irregularities in 32 constituencies and calls for transparent review of election results.

Food Security & Prices: Zambia’s Food Reserve Agency says it has paid farmers over K6 billion, buying more than 1 million metric tonnes of maize since Aug 20, while ZNS also cut Eagles mealie meal prices (25kg breakfast meal K175 on order, K185 retail; roller K135 on order, K145 retail) to ease household costs as maize stocks rise. Trade & Standards: Experts warn that delayed harmonisation of standards is acting like a tax on intra-Africa trade, slowing movement of goods under AfCFTA and raising costs for exporters and importers. Energy & Industry: A new USTDA push will take about 15 power-sector decision-makers from Angola, Botswana, Mozambique and Zambia to the US to modernise grids and boost electricity reliability for growing industrial demand, including critical minerals. Solar Scale-Up: Africa could add 17 GW of solar in 2026 (up 45%), with China supplying most modules, as decentralised systems drive new installations. Debt & Fiscal Space: Zambia’s annual external debt service is projected to fall to about US$900m from 2026, freeing resources for priority sectors after restructuring. Value Addition: ZAFFICO begins work on Zambia’s first particle board factory (about US$25m), aiming to cut import reliance and support construction and furniture manufacturing.

Debt Relief for Industry: Zambia’s annual external debt-service is projected to drop to about US$900m from 2026, down from an estimated US$2.6bn without restructuring—freeing fiscal space as external debt costs fall from roughly K70 to K15 per K100 of domestic revenue, with inflation easing to 6.2% and reserves rising to US$6.5bn by June 2026. Food Security Push: The Zambia National Service (ZNS) cut Eagles breakfast mealie meal to K185 (from K250) and roller to K145 (from higher prior levels), with sales through ZNS milling plants in Chongwe, Monze and Mpika to support affordability. Local Manufacturing Boost: ZAFFICO has started work on Zambia’s first particle board factory (about US$25m), aiming to reduce import costs for furniture and construction while creating jobs and adding value to timber resources. Cybersecurity Warning: Government says cybersecurity is now an economic and security issue as digital transformation expands connectivity; police recorded 874 cyber-related cases in the first half of 2025. Energy Transition Skills Gap: An Africa energy transition debate in Accra highlights a missing “people” line item—more investment is needed in local teams to design, operate and maintain power systems, not just import hardware.

Food Security & Prices: ZNS cut Eagles mealie meal prices again, with 25kg breakfast dropping to K185 retail (from K250) and roller to K145, aiming to ease household costs. Public Finance & Investment Space: Zambia’s annual external debt service is projected to fall to about US$900m from 2026 after restructuring, freeing fiscal room as inflation trends toward the 6–8% target band. Inflation Watch: ZamStats reports August inflation easing to 6.2% (from 6.5% in July), with food—especially cereals and mealie meal—driving the slowdown. Forestry Value Addition: ZAFFICO has started work on Zambia’s first particle board factory (about US$25m), targeting cheaper local boards for construction and furniture while creating jobs. Cybersecurity & Industry Risk: Government says cybersecurity is now an economic and security issue as digital transformation expands; police recorded 874 cyber-related cases in Jan–Jun 2025. Transport & Trade Links: DR Congo and Angola signed a US-backed railway deal to boost the Lobito Corridor, with hopes of cutting mineral haul times from about 30 days to under a week. Regional Climate & Agriculture: SADC warns of below-normal rainfall for parts of the region, including Zambia, raising risks for water and farming. Banking & Productive Lending: NMB is expanding productive-sector lending, drawing external lines of credit to support sectors including mining. Industrial Events: The 16th Lusaka Motor Show (28–30 Aug) will spotlight vehicles, transport equipment and emerging green mobility solutions.

Banking & Mining Finance: NMB says it has secured over US$200m in external lines of credit to expand lending to productive sectors, with mining now 21% of its loan book as it targets more foreign-currency earnings. Inflation Watch: Zambia’s annual inflation eased to 6.2% in August (from 6.5% in July), with food inflation down and non-food inflation also easing—near the Bank of Zambia’s 6–8% target band. Regional Trade & Transport: TAZARA marks 50 years of commercial operation, highlighting its role as a key corridor linking Dar es Salaam to Zambia and supporting regional cargo flows. Aquaculture & Jobs: Gwembe Town Council secured funding to establish a fish feed manufacturing plant to boost aquaculture, create jobs, and support local training for farmers. Climate Risk for Industry: SADC warns of below-normal rainfall for parts of the region between Oct 2026 and Mar 2027, with above-average temperatures—raising risks for agriculture and water-dependent production. Critical Minerals Debate: A report argues the rush for critical minerals is driving major social and environmental harm, challenging the idea that extraction is mainly for green energy. Investment Signals: Investors showed strong appetite for Zambia bonds after the election, with the first post-election auction oversubscribed by about 37%.

Youth & Women Entrepreneurship: Japan-funded Empower Africa Programme opened applications for 18–35-year-olds across 11 Anglophone countries including Zambia, with training in entrepreneurship, AI, leadership and investment readiness, plus a possible Japan immersion for top performers. Inflation & Trade: Zambia’s annual inflation eased to 6.2% in August (from 6.5%), driven mainly by softer food prices; non-food inflation also eased, while July trade surplus was reported at K4.1bn, with exports rising slightly but refined copper earnings down. Transport & Regional Trade: TAZARA marked 50 years of commercial operation, highlighting its role as a trade corridor linking Dar es Salaam to Zambia’s Kapiri Mposhi and supporting rail-sea intermodal logistics and skills development. Investment Signals: Investors reportedly piled into Zambia’s bonds after Hichilema’s re-election, with an August 21 auction oversubscribed by about 37%, reflecting improved market confidence. Mining Power Crunch: Zambia’s copper expansion push is flagged as constrained by electricity shortages, with industry estimating the need for at least 2,000MW extra power to hit ambitious production targets. Standards for Trade: AU-backed push for harmonised product standards and one certificate across AfCFTA aims to cut repeated testing and unlock intra-African trade. Local Industry Events: The 16th Lusaka Motor Show (28–30 Aug) is set to bring together transport, equipment and green mobility players under one roof. Governance Watch: Mo Ibrahim urged Zambia’s re-elected leadership not to let post-election controversies erode democratic gains and first-term achievements.

Copper Power Crunch: Zambia’s copper expansion push is colliding with a growing electricity deficit, with drought-linked hydropower dependence leaving mines short on power and raising the urgency for new generation and grid upgrades. Lobito Corridor Momentum: Angola and the DRC have moved to formalise contracts tied to the Lobito Corridor, aiming to unlock full rail operations that could boost regional freight and mineral exports, with Zambia positioned as a key beneficiary. Mining Deal Watch (Zambia): Jubilee Metals has selected a preferred buyer for its Large Waste Project in Zambia for $35m, shifting capital toward existing operations to reduce development risk. Gold Sector Reform: Government says it will introduce a single-buyer model for all gold produced in Zambia, a major change aimed at tightening regulation and market structure. Telecoms & Infrastructure: MTN’s IHS Towers takeover is advancing after Nigeria’s competition regulator granted conditional approval, with conditions including safeguards and investment commitments. Food Security: Zambia’s record maize harvest may still be threatened by El Niño impacts in drought-prone areas, with risks spreading beyond crops to water, livestock and household incomes. Business & Trade Links: Brazil has launched a Southern Africa business mission that includes Lusaka, targeting trade expansion and investment ties. Women in Business: Africa.com will unveil its 2026 Definitive List of Women CEOs, including leaders from Zambia, highlighting representation across mining, industrials, telecoms and more.

MTN & Towers Deal: MTN Group’s $2.2bn push to take full control of IHS Towers in Africa moved forward after Nigeria’s NCC granted conditional approval-in-principle, with MTN Nigeria required to meet governance, contract and investment-plan conditions before final clearance. Telecom Growth: MTN reported first-half 2026 gains, with service revenue up 17.5% and fintech momentum (Mobile Money users and transaction volumes rising) led by Ghana and Nigeria. Copper Value Shift: Jubilee Metals selected a preferred buyer for Zambia’s Large Waste Project for $35m, choosing to redeploy capital into existing mines and processing instead of a high-risk greenfield build. Gold Market Reform: Zambia’s Mines ministry says it will introduce a single-buyer model for all gold produced in the country, starting with mining authorisation under new reforms. Mining Exploration: Shuka Minerals completed final drilling at Kabwe, reporting near-surface high-grade zinc intersections that could expand the historic mineralisation model. Construction & Trade Corridor: Mota-Engil is set to sign a 30-year DRC concession to rehabilitate and run the Lobito Corridor copper-cobalt railway, potentially backed by up to $1bn in US financing. Beef Exports: ZAMRA says stronger veterinary medicines regulation is key to reaching Zambia’s $1bn beef export goal, targeting counterfeit and substandard products. Build Zambia 2026: The Official Press Briefing and launch of the Build Zambia Conference & Expo 2026 highlighted opportunities for the construction and built-environment sectors.

Lobito Corridor Boost: The DRC has signed a contract to accelerate development of the Lobito Corridor, linking the Copperbelt to Angola’s Atlantic port and pushing a new phase on cross-border environmental crime control. Regional Infrastructure Finance: The AfDB approved US$255m (plus a US$10m grant) to support Zambia’s participation in the Lobito Corridor initiative, aiming to strengthen transport, trade facilitation, agriculture, energy and institutions. Fuel Security Expansion: Mozambique-Zimbabwe’s CPMZ will raise the Beira–Feruka fuel pipeline capacity by 67% to 5 million cubic metres by end-2027, with new pumping stations and upgrades that also serve Zambia and other landlocked markets. Copper Production Reality Check: Zambia’s path toward 3 million tonnes of copper by 2031 is still behind target, with widening production gaps reported for 2024–2025. Beef Export Regulation: ZAMRA says tighter veterinary medicines regulation is key to reaching Zambia’s US$1bn beef export goal, targeting counterfeit and substandard drugs. Power Sector Partnerships: A U.S.-hosted delegation from Angola, Botswana, Mozambique and Zambia will explore modernising electricity distribution and grid control systems. Supply Chain Recognition: Winners were announced for the 2026 Africa Supply Chain Excellence Awards, highlighting measurable logistics and delivery improvements across the continent. Corporate Tax Debate: A proposal argues Zambia should cut corporate tax from 30% to 25% to attract investment and expand manufacturing.

Zambia’s Copper Ambition Under Scrutiny: New figures on the “three million tonnes by 2031” target show Zambia’s copper output is improving but still drifting further from the official growth path, widening the production shortfall. Regional Energy Corridor Boost: Mozambique’s Beira–Harare fuel pipeline (CPMZ) plans a 67% capacity jump to 5 million cubic metres by end-2027, with new pumping stations—supporting supply to landlocked markets including Zambia. Trade and Industry Financing: The AfDB approved US$255m (plus a US$10m grant) to back Zambia’s participation in the Lobito Corridor, linking transport, trade facilitation, agriculture, energy and urban development. Beef Export Push: ZAMRA says stronger regulation of veterinary medicines is key to reaching Zambia’s US$1bn beef export goal, targeting counterfeit and substandard products. Supply Chain Spotlight: The Africa Supply Chain Excellence Awards named winners across categories, highlighting practical logistics and visibility gains amid disruption. Corporate Tax Debate: A fresh call argues Zambia should cut corporate tax from 30% to 25% to attract investment and expand manufacturing.

Corridor Finance: The African Development Bank approved US$255m in funding plus a US$10m grant to support Zambia’s participation in the Lobito Economic Corridor, aiming to cut logistics costs and boost industrial trade by linking the Copperbelt to Angola’s Lobito port. Environmental Planning: Angola’s public consultation on the Lobito Corridor strategic environmental assessment gathered inputs from academics, NGOs and local authorities across Benguela, Bié, Huambo and Moxico provinces. Power Partnerships: A U.S. delegation backed by USTDA will visit the region to explore grid modernization partnerships, with Southern Africa’s transmission and distribution upgrades tied to rising industrial electricity demand. Uranium Watch: Atomic Eagle’s Zambia-linked uranium story stays in focus as it progresses approvals and exploration at Muntanga, while its Niger deal restores a 60% interest in the Madaouela project—signalling renewed momentum for uranium development across the region. Health & Access: Bayer and Zambia’s Ministry of Health officially handed over the Munzele Health Centre in Kabwe, built to improve access for 10,000+ residents near the firm’s Itaba maize processing operations. HIV Services: CIDRZ and Lusaka Provincial Health Office coordinated stakeholders to strengthen HIV service delivery, retention in care and viral load management. Digital Finance: Ericsson and MTN Group Fintech completed cloud-native Mobile Money migration in Eswatini, Ghana, Rwanda and Uganda, with talks underway to extend similar upgrades to Zambia.

Uranium & Mining Investment: Atomic Eagle shares jumped after agreeing a new mining convention with Niger to re-establish its Madaouela uranium project, giving the company 60% interest and operational control (Niger 40%), adding to its Zambia Muntanga asset and setting up a bigger dual-asset development platform. Power & Industry Link: Tanzania commissioned the 2,115MW Julius Nyerere Hydropower Project, creating a large power surplus and reviving plans to export electricity to neighbours including Zambia—an important signal for regional production and industrial reliability. Digital Finance Modernisation: MTN Group and Ericsson completed migration of MTN MoMo to cloud-native infrastructure across Eswatini, Ghana, Rwanda and Uganda, with Zambia flagged for similar transformation—boosting the case for faster, more scalable mobile money services. Health Systems Coordination: CIDRZ and Lusaka Provincial Health Office convened HIV stakeholder meetings to strengthen retention in care, viral load management, prevention and data quality across Lusaka facilities and communities. Local Business & Skills: UBA inducted 374 young professionals from its GMAP, including 29 from operations across Guinea, Tanzania, Kenya, Mozambique, Uganda, Zambia and Côte d’Ivoire, pushing leadership development across the region. Policy & Governance: Commentary around Zambia’s election and democratic process continued, alongside calls for unity and improved governance, while traditional leadership urged closer partnership with the re-elected government.

Uranium Deal for Zambia’s mining ecosystem: Atomic Eagle re-established its interest in Niger’s Madaouela Uranium Project, securing a 60% stake and operational control, adding a 116.5Mlb U₃O₈ resource to its Zambia-based Muntanga portfolio (58.8Mlb JORC), with arbitration steps set to be withdrawn after the new mining convention. Copperbelt business confidence: Copperbelt business leaders welcomed President Hichilema’s re-election, saying policy continuity supports investment, while urging stronger focus on SMEs and job creation. Power and production momentum: Tanzania commissioned the 2,115MW Julius Nyerere Hydropower Project, creating a generation surplus and opening talks to export electricity to neighbours including Zambia—good news for regional industry and trade. Trade facilitation in the region: Zimbabwe and South Africa pushed the One-Stop Border Post model at Beitbridge to cut truck queues and speed up clearance under AfCFTA. Leadership and skills pipeline: LEAP Africa closed its 5th Leadership Accelerator Programme for young women, selecting 31 participants for a Nairobi boot camp, including women from Zambia. Governance and accountability: Zambia’s ATI Act coverage highlights proactive disclosure of public records on contracts, CDF use, and service delivery to reduce suspicion and improve trust. Community infrastructure push: Zambezi communities were consulted on rehabilitating the Kongola–Mulangu road, a key corridor for truck traffic to Zambia, Botswana, Zimbabwe and Angola.

Copperbelt Jobs & Skills: Copperbelt youths have congratulated President Hakainde Hichilema on his landslide re-election, pointing to mining-sector policy direction and youth skills training under the Constituency Development Fund. SME Focus: Copperbelt business leaders say investor confidence is back, but urge the second term to remove barriers facing small and medium-sized enterprises so they can create more jobs. Power for Production: Tanzania’s Julius Nyerere Hydropower Project (2,115MW) has been commissioned, boosting generation capacity and creating a surplus that officials say can support exports and industrial growth—an important regional signal for Zambia’s power-reliant economy. Standards for Exports: Zambia’s Bureau of Standards has certified Fecko Investment’s Usingini Upland Coffee, clearing the way for formal exports and tackling the wider problem of untracked trade. Trade & Logistics: Regional coverage highlights how one-stop border posts and the North–South Rail Corridor are being positioned to cut delays and strengthen industrial supply chains. Governance & Peace Online: Zambia’s church mother bodies warn against online hate and political insults, including the use of children in political messaging.