AGP Executive Report

Agriculture: Forty Zambian officials and technicians have completed China-backed training in farm machinery, irrigation and post-harvest technology, with officials saying stronger technical skills can help modernise farming. Copper and Mining: ZCCM-IH chair Phesto Musonda says Zambia wants partners, reliable power and greater participation in copper trading to capture more value from its minerals. The state miner and IRH have also reaffirmed their partnership at Mopani after a financing dispute, though funding questions remain open. Industry and Investment: Trafigura has appointed Chipokota Mwanawasa as its Zambia executive director, overseeing metals, energy and logistics activities. Lobito Corridor: Caritas Solwezi and partner groups are urging early, ongoing community consultation and disclosure of plans for the critical-minerals corridor, including land, compensation and resettlement details. Food Processing: Lusaka-based CherryPick is turning locally sourced fruit and cashews into shelf-stable snacks, creating markets for small-scale farmers and reducing post-harvest losses.

Renewable Energy: Construction is set to begin on Globeleq’s 40MW Kafue solar project, with first power targeted for the third quarter of 2027. The plant has a 25-year ZESCO supply agreement. Copper Trade: Bank of Zambia Governor Denny Kalyalya says some copper sales to Chinese buyers will be settled in yuan, potentially reducing conversion costs and exchange-rate exposure. Regional Power: Tanzania’s Nkangamo substation is 83% complete and expected to be energised in November, strengthening prospects for electricity trade with Zambia once the Zambian section of the TAZA link is ready. Agriculture: Malawi still owes K16 billion for maize bought and transported from Zambia, while nearly 59,000 tonnes remain undistributed—leaving payment and delivery questions for a major cross-border supply deal. Fuel Logistics: Zimbabwe’s NOIC is expanding its Beira–Harare pipeline as demand for fuel from Zambia and other regional markets grows.

Clean Energy: Solarise Africa secured a US$1.12 million grant to expand into Zambia and Uganda, with plans to deploy 3MW of solar, storage and other renewable capacity for businesses and social institutions. Power Links: Tanzania’s Nkangamo substation is 83% complete and could enable electricity trade with Southern African markets through Zambia once Zambia completes its section of the regional link. Copper Mining: Prospect Resources reported further high-grade results at its Nyungu Central project in north-western Zambia, while drilling identified a copper anomaly extending more than 1km at Shikezi. Mopani Investment: ZCCM-IH and IRH reaffirmed a US$1.1 billion commitment to Mopani, which is targeting annual production of 300,000 tonnes of finished copper by 2029. Trade Logistics: Tanzania plans to move up to 1,500 containers a day from Dar es Salaam port by rail, including on Tazara, to ease congestion and cut cargo costs for regional businesses.

Copper Investment: ZCCM-IH and IRH reaffirmed $1.1 billion for Mopani, which aims to produce 300,000 tonnes of finished copper annually by 2029; production rose 63% from 2023 to 2025. Uranium Exports: Lotus Resources says Kayelekera’s first shipment is awaiting one key Namibian transport approval. Zambia has issued a transport licence for the route, a step toward turning production into sales. Power Networks: Zambia’s 10,000MW generation ambition needs matching investment in transmission and distribution. Installed capacity stands at 4,722MW, with solar above 1,000MW. Copper Outlook: The global refined copper surplus is forecast to grow to 368,000 tonnes in 2027, a reminder that rising supply could temper the market outlook for producers. Fuel Logistics: CPMZ plans to expand the Beira–Feruka pipeline’s annual capacity by 67%, to five million cubic metres, by December 2027. A Livingstone forum on October 27 will focus on reliable fuel supplies for Zambia’s mining and industry. Mining Projects: ZCCM-IH has approved a $498 million Nchanga tailings leach plant, a major planned investment in copper production.

Copper Mining: IRH and ZCCM-IH have reaffirmed their partnership at Mopani, backed by IRH’s $1.1 billion commitment. Copper output rose 63% from 2023 to 2025, with the mine targeting 300,000 tonnes a year by 2029. Fuel Logistics: The Beira–Feruka pipeline expansion is set to lift annual capacity by 67%, to five million cubic metres by December 2027. A forum in Livingstone on October 27 will discuss how the added capacity can improve fuel supply for Zambia’s mines and industry. Copper Outlook: The global refined copper surplus is forecast to more than triple to 368,000 tonnes in 2027 as production growth outpaces demand. Markets and Agriculture: LuSE says the proposed $1.5 billion IMF programme and 5.6% growth forecast could bolster investor confidence. Government also plans a private-sector-backed crop marketing entity to help sell surplus maize, while keeping the FRA focused on strategic reserves.

Agriculture: State House says the FRA will continue buying maize for strategic reserves, while a planned crop-marketing entity with private-sector participation is expected to help sell surplus abroad. Separately, WFP committed nearly US$1 million to buy 1,151 tonnes of pulses through Zambian farmer groups and aggregators. Tourism: Anantara has opened a 13-room tented camp on the Kafue River, adding a new luxury destination in Kafue National Park. Manufacturing: The Zambia Association of Manufacturers urged swift action on reforms to cut the cost of doing business and support local production. Mining: ZCCM-IH approved a US$498 million tailings leach plant at Nchanga, a major investment in copper recovery and processing. Energy: Axian and Africa GreenCo signed a 240MW solar power deal as Zambia’s solar capacity reaches 1,000MW; falling Kariba water levels, however, renew concerns about hydropower supply. Industrial services: Multotec says it is expanding manufacturing, assembly and service support in Zambia after 25 years in the country.

Critical Minerals: Zambia is urging Great Lakes countries to curb illegal mining and ensure minerals create local jobs and support processing. As US-China competition for critical minerals intensifies, African governments are seeking greater influence over investment and value chains. Maize Markets: Government says the FRA will keep buying maize for strategic reserves while a proposed crop-marketing entity, with private-sector participation, would help sell surplus abroad. Zambia is targeting 10 million tonnes of production. Agriculture: WFP bought 1,151 tonnes of pulses worth nearly US$1 million through Zambian farmer groups and aggregators last year, while its work with a Monze supplier has provided post-harvest storage bags to more than 13,000 farmers. Power Security: Kariba’s usable storage has fallen to 37.21%, renewing concerns over electricity supply. The seasonal decline underscores the need to diversify generation and strengthen regional power links. Manufacturing: The Zambia Association of Manufacturers says delivering national growth targets depends on urgent reforms and making more of what the country consumes. Mining Returns: ZCCM-IH paid shareholders K183 million in dividends, supported by income from mining and energy investments.

Manufacturing: The Zambia Association of Manufacturers is urging swift action on President Hakainde Hichilema’s reforms, saying local production is key to lowering business costs and meeting national growth targets. Energy: Kariba’s water level is falling, with usable storage at 37.21%, reviving concerns over power generation and potential blackouts. Zambia has also reached its 1,000MW solar target, while ZCCM-IH approved a $498 million tailings-leach plant at KCM. Mining: ZCCM-IH paid shareholders K183 million in dividends, supported by mining and energy earnings. Agriculture: Poultry producers expect output to rise 4% to more than 78 million egg trays, though feed and transport costs remain a concern. Treasury plans to reduce FRA funding in 2027, citing maize stocks from this year’s purchases. Tourism: Anantara has opened a 13-key off-grid camp on the Kafue River, adding a new investment in conservation-focused tourism.

Mining: ZCCM-IH paid shareholders K183 million for 2025, its 11th consecutive annual dividend, as investment income rose 40%. The company has also approved a $498 million Nchanga tailings leach plant, a major planned investment in Copperbelt processing. Agriculture: Treasury plans to reduce funding for the Food Reserve Agency in 2027, citing large maize stocks after this season’s purchases. Poultry producers, meanwhile, expect egg supply to grow 4% to more than 78 million trays, while warning that feed and transport costs remain a strain. Investment and Finance: Zambia is seeking development funding at the IMF-World Bank meetings after reaching a staff-level agreement on a proposed $1.47 billion IMF programme, still subject to approval. Energy: Axian and Africa GreenCo have signed a power purchase agreement for a 240MW solar project in Zambia, adding to the country’s push to expand generation.

IMF and Reserves: Zambia reached a staff-level agreement for a new $1.47 billion, 36-month IMF programme, pending board approval. Finance Minister Situmbeko Musokotwane says stronger reserves will help cushion the country against oil-market turmoil and possible drought. Growth Agenda: President Hakainde Hichilema has named agriculture, energy, mining, tourism and manufacturing as priorities, with a five-year goal of doubling the economy. Energy: The government plans to require public institutions to buy electric vehicles and expand charging infrastructure; Axian and Africa GreenCo have also signed a 240MW solar power purchase agreement in Zambia. Mining: ZCCM-IH approved a $498 million tailings leach plant at KCM, a major proposed investment in Copperbelt production. Power Infrastructure: Zambia has attracted $250 million to expand power infrastructure as it pursues its 1,000MW solar target.

Public Spending: Government released K14.6 billion in September, including K526.9 million for capital expenditure, as it funded public services, debt obligations and support for vulnerable households. Growth Agenda: President Hakainde Hichilema set targets for agriculture, energy, mining and manufacturing, including 10 million tonnes of maize, 10,000MW of power capacity and 3 million tonnes of copper a year. IMF Programme: Zambia reached a staff-level agreement on a new $1.47 billion, 36-month facility, subject to approval; the IMF projects 5.6% growth in 2026, led by agriculture, mining and exports. Energy: Axian and Africa GreenCo signed a power purchase agreement for a 240MW solar project in Zambia. Mining and Manufacturing: ZCCM-IH approved a $498 million Nchanga tailings leach plant, while Multotec marked 25 years in Zambia with plans to expand local manufacturing, assembly and services.

Health Partnership: Zambia and the United States signed a five-year health pact, with Washington committing about $1.5 billion for HIV, TB, malaria and broader health-system support. Energy and Transport: President Hakainde Hichilema says government institutions must buy electric vehicles, with charging infrastructure planned alongside private firms; new fuel pipelines are also proposed to diversify supply. RTSA-approved bus fare increases have taken effect after fuel price rises. Economic Outlook: Zambia reached a staff-level agreement with the IMF on a proposed $1.47 billion, 36-month programme, with reforms intended to support growth while protecting social spending. Mining: ZCCM-IH approved a $498 million tailings leach plant at KCM, a major investment in copper processing. Power and Manufacturing: A 240MW solar power purchase agreement involving Axian Energy and Africa GreenCo adds to Zambia’s expanding solar pipeline, while Multotec marked 25 years in the country and plans to expand local manufacturing, assembly and service support.

Grow Zambia: President Hakainde Hichilema set ambitious five-year production goals, including 10 million tonnes of maize, 3 million tonnes of copper and 10,000MW of electricity capacity. He also ordered government institutions to shift to electric vehicles and outlined plans for fuel pipelines linking Zambia with four neighbouring countries. IMF Programme: Zambia reached a staff-level agreement on a proposed $1.47 billion, 36-month facility. The programme would support growth and debt sustainability, with reforms on revenue, state-owned firms and public spending; approval is still pending. Mining: ZCCM-IH approved a $498 million KCM tailings leach plant, a major proposed investment in copper recovery. Renewable Energy: Axian Energy and Africa GreenCo signed a power purchase agreement for a 240MW solar project in Zambia, adding to a fast-growing pipeline of solar and storage developments.

Economic Outlook: The IMF and Zambia reached a staff-level agreement on a new $1.47 billion, three-year programme, pending board approval. Growth is forecast at 5.6% in 2026, supported by agriculture, mining and exports. Production Drive: President Hakainde Hichilema’s Grow Zambia agenda sets targets including 10 million tonnes of maize, 3 million tonnes of copper and 10,000MW of power capacity, with a focus on turning stability into jobs and investment. Power Investment: Axian Energy and Africa GreenCo signed a 240MW solar power purchase agreement, adding to Zambia’s expanding pipeline of solar projects. Copper Processing: ZCCM-IH approved KCM’s $498 million Nchanga tailings plant, expected to produce about 70,000 tonnes of copper cathode a year by recovering metal from historic mine waste. Mineral Value Addition: Zambia is among six countries in a UN-backed Southern African programme to strengthen responsible critical-mineral value chains and local processing. Transport Costs: RTSA-approved bus fare increases took effect on October 9 after recent fuel price rises.

Renewable Power: Axian Energy and Africa GreenCo have signed a 240MW solar power purchase agreement in Zambia, adding to a fast-growing market. The country says solar capacity has reached 1,027MW, above its 2026 target, while total installed generation capacity has risen to 4,722MW. Copper: ZCCM-IH has approved KCM’s $498 million Nchanga tailings leach plant. The project is expected to recover copper from historical waste and produce about 70,000 tonnes of cathode annually once operational. US Partnership: Zambia and the United States signed a five-year health agreement worth $2.49 billion in combined commitments; separate negotiations on critical-minerals cooperation continue, with no final terms disclosed. Gold: A $35 million credit facility will help SignaFi finance gold purchases from organised small-scale mining suppliers, including in Zambia. Investment Climate: Moody’s has assigned Zambia a positive sovereign outlook, citing reforms and stronger commodity prices, while warning that regional gains do not mean debt risks have disappeared.

Copper Mining: ZCCM-IH has approved KCM’s $498 million Nchanga tailings plant, which is expected to produce 70,000 tonnes of copper cathode a year after construction. KCM will fund the project, with work expected to take 24 months. Power: Zambia says solar capacity has reached 1,027MW, exceeding its 2026 target, while total installed generation capacity has risen to 4,722MW. The government says transmission investment must keep pace. Regional Energy: A planned 200-kilometre Zambia-DRC interconnector could deliver up to 550MW to Congo’s mining region, easing power constraints for copper and cobalt producers. Investment: President Hakainde Hichilema is courting UAE and Gulf investors for projects in mining, energy, agriculture, manufacturing and infrastructure under the Grow Zambia agenda. Uranium: Atomic Eagle is advancing work at its Muntanga project, with further drilling planned to assess the deposit’s potential.