Zambia is one of the stable democracies in Africa and offers considerable opportunities for investors – especially in the areas of mining, energy, agriculture and tourism. The country borders eight states and has good access to the East African market. In regional comparison, Zambia scores with a well-developed road network and abundant rains.

In the important raw materials sector, the government is focusing on more local processing and value creation, which increases the chances of a sustainable growth spurt.

Economy. According to Germany Trade & Invest, the economy in Zambia grew by 2.9 percent in 2022 (sub-Saharan average: 3.4 percent). For the current year, IMF economists expect slightly above-average growth of 4.0 percent. In 2024, it could be 4,2 percent.

The long-term development is more impressive: Sambia’s gross domestic product per capita rose from the equivalent of 399 to 1488 dollars over the last 20 years. Inflation has recently been at a relatively moderate level of 11 per cent. The public debt is alarmingly high at 119 per cent of GDP.

Population. Sambia has 20 million inhabitants. Annual population growth has declined from 3.6 to 2.8 percent since 2008. Experts predict a further decline to 2.4 percent in the next ten years. In the last 20 years, the average birth rate has fallen from 5.8 to 4.2 per woman. Life expectancy was at 61 years recently. 47 percent of Sambians have access to electricity (twenty years ago, it was 17 percent).

Governance. On Transparency International’s latest Corruption Perceptions Index, Sambia ranks 116th out of 180. With a score of 33 points the country has, according to TI, made steps backwards in the last years (in 2015 Sambia scored 38 points). The score puts Zambia on the same level as countries like Ukraine, Angola or Mongolia – but ahead of Kenya (32 points).

Sources and further information:

World Bank:

Africa Business Guide

Germany Trade & Invest:

Transparency International:

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