Zambia Economy Overview

Zambia Economy Overview

Basic data
Capital Lusaka
Population 19,50 mil.
Language official language English, indigenous languages
Religion Christianity (92%), Islam (3%), Other (5%)
State system presidential republic
Head of State Hakainde Hichilema
Head of government Hakainde Hichilema
Currency name Zambian Kwacha (ZMW)
Time shift +1 hour (in summer +0 hour)
Economic 2021
Nominal GDP (billion USD) 25,9
Economic growth (%) 1,6
Inflation (%) 22,3
Unemployment (%) N/A

Zambia is a landlocked country in the Southern African region, rich in natural resources (agricultural land, minerals, water resources, forests), but this potential has yet to be fully exploited. Zambia belongs to the so-called least developed countries (LDCs), approximately 60% of the local population lives below the poverty line. It is a unitary republic of the presidential type. In August 2021, presidential, parliamentary and local elections were held, in which the opposition party UPND (United Party for National Development) won with a majority, and its leader Hakainde Hichilema assumed the office of president.

The national economy is poorly diversified and depends to a large extent on agriculture and mining of mineral resources, especially copper. Copper exports account for more than 70% of total export earnings. Zambia therefore faces a high dependence on climatic conditions and the prices of mined commodities on world markets. The problem is insufficient infrastructure and a lack of skilled labor. Agriculture suffers from low diversification and mechanization. The number of large commercial farms is growing, but small farmers, producing mainly for their own consumption, predominate. In recent years, climatic changes have been significantly manifested in Zambia, especially in the decrease and greater irregularity of rainfall. This has implications for both agriculture and the energy sector, as Zambia generates over 80% of its electricity from hydro sources. Introduction of other resources (in particular

After years of irresponsible borrowing (especially to China), Zambia has been unable to meet its obligations to international creditors since autumn 2020 and is negotiating options for partial debt forgiveness. In December 2021, the IMF announced that an agreement had been reached with the Government of Zambia (Staff Level Agreement) to be supported by a loan of SDR 980 million (US$billion) under the Extended Credit Facility in 2022-2025. Credit however, it still needs to be approved by the IMF’s Executive Board, and the prerequisite is progress in debt restructuring negotiations with other creditors.

Zambia’s development priorities are the modernization and diversification of agriculture, the mining industry and tourism, improvements in electricity and water supply, building transport infrastructure and the development of information and communication technologies. Opportunities for Czech companies can be seen mainly in the supply of equipment and technologies, especially for renewable energy sources, electrical components, agricultural mechanization and chemical preparations, technologies for the food industry, equipment for mines or technologies for water treatment.

According to, Zambian society is in many ways still quite traditional and quite conservative. Central Europeans are often unpleasantly surprised especially by lateness, non-compliance with deadlines and promises in general or difficult dealings with the authorities. Corruption is a widespread problem.

Practical telephone numbers (emergency services, police, firemen, information lines, etc.)

If you need to contact the emergency services, you can use the lines 999 (ambulance) or 991 (police), in Lusaka +260 211 220 006 for the police or +260 211 220 180 for the emergency medical service. However, the functionality of these connections is unstable, and even a successful connection with the operator does not guarantee a quick and competent response. Especially outside big cities, emergency lines can be completely unusable. Only some hospitals have their own ambulances.

If medical treatment is needed, the following clinics can be contacted:


Lot 9, Mukonteka Close, Rhodespark, 10101, Lusaka, Zambia

Tel.: 3111 (from any local telephone network) or +260 761 101 600

Email: [email protected]

CFB Medical Centre

4192 Addis Ababa Drive Lusaka


Tel: +260 973 674 592

Fax: +260 211 254402

SES Clinic

Office 2 Sandy’s Creations, Lilayi, Lusaka

Tel: 737 (from any local telephone network)

Important web links and contacts

The government:

Office of the President / State House:

Ministry of Agriculture:

Ministry of Commerce, Trade and Industry:

Ministry of Finance:

Ministry of Fisheries and Livestock:

Ministry of Education:

Ministry of Health:

Ministry of Home Affairs and Internal Security:

Ministry of Information and Media:

Ministry of Justice:

Ministry of Labour and Social Security:

Ministry of Lands and Natural Resources:

Ministry of Community Development and Social Services:

Ministry of Local Government and Housing:

Ministry of Mines and Mineral Development:

Ministry of Youth, Sport and Child Development:

Ministry of Energy:

Ministry of Tourism and Arts:

Ministry of Transport and Communication:

Ministry of Works and Supply:

Ministry of Defence:

Ministry of Foreign Affairs and International Cooperation:

Ministry of Green Economy and Environment:

Ministry of Small and Medium Enterprises:

Ministry of Water Development and Sanitation:

Chamber of Commerce:

Zambia Association of Chambers of Commerce and Industry:

Investment promotion agencies:

Zambia Development Agency:

Zambia International Investment and Trade Centre:

Tax and Customs Office:

Zambia Revenue Authority:

Central Bank:

Bank of Zambia:

Zambia Economy Overview

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