In recent months, the Zambian economy has recovered from the drought-induced slowdown in 2024: economic growth has picked up significantly again, while inflation is at least declining slightly. In addition, the country is investing heavily in solar energy after the drought dried up reservoirs and caused the energy supply to collapse.

This offers opportunities for entrepreneurs and investors, as does the country’s wealth of mineral resources: The southern African country is part of the so-called Copper Belt, which is home to numerous raw materials that are indispensable for sustainable and digital technologies.

The government attaches particular importance to local value creation and also hopes that new rail lines will facilitate exports – for example, through the Lobito Corridor towards the Atlantic coast (a project supported by the EU’s Global Gateway infrastructure program).

Zambia has repeatedly proven itself to be a stable democracy with peaceful changes of government and is making significant progress in the fight against corruption. However, the country is still suffering from high debt and persistent inflation.

Economy. According to Germany Trade & Invest, Zambia’s economy is expected to grow by 6.2 per cent this year. For 2026 and 2027, economists predict growth rates of 6.8 and 6.4 per cent. The gross domestic product per capita rose in the last 20 years from the equivalent of 549 to 1235 US-Dollars. Inflation recently stood at 15 per cent, but is expected to fall to 9,2 per cent next year. National debt has reached around 114,9 per cent of GDP.

Population. Zambia has around 21,5 million inhabitants; the population recently grew at an annual rate of 2.8 per cent. In the last 20 years, the fertilty rate has fallen from 5.7 to 4.1 children per woman. Life expectancy was at 66 years recently (twenty years ago: 51). Around 51 per cent of the population has access to electricity (twenty years ago: 20.1 per cent).

Governance. On Transparency International’s latest Corruption Perceptions Index, Zambia ranks 92th out of 180 countries. With a score of 39 points (six points more than 2022!), Zambia is one point ahead of countries like India and Indonesia.

 Sources and further information:

World Bank: https://data.worldbank.org/country/zambia

Germany Trade & Invest: https://www.gtai.de/de/trade/sambia-wirtschaft/wirtschaftsdaten-kompakt#/ZMB/overview

Transparency International: https://www.transparency.org/en/cpi/2024/index/nga