World Bank launches 2026 Zambia Economic Update

Government has reaffirmed its commitment to implementing economic and energy sector reforms aimed at strengthening macroeconomic stability, attracting private investment and supporting sustainable growth. Speaking during the launch of the 2026 Zambia Economic Update by the World Bank in Lusaka, Secretary to the Treasury Felix Nkulukusa, who read a speech on behalf of Finance and National Planning Minister Dr Situmbeko Musokotwane, said Zambia’s economy remained resilient despite global and domestic challenges. Dr Musokotwane said the economy grew by 3.8 percent in 2025, driven by recovery in agriculture, improved mining performance and continued macroeconomic reforms.

“We are determined to sustain reforms that will strengthen economic resilience, expand energy access and create an environment that supports investment and job creation,” he said. The Minister added that the reforms include the smart meter deployment, cost reflective tariffs, net metering regulations and investments in solar and other renewable energy sources. He added that Government was also working towards achieving universal electricity access by 2030 under the Zambia Energy Compact while improving the investment climate to attract private capital and create jobs.

Speaking at the same event, World Bank Division Director for Malawi, Tanzania, Zambia and Zimbabwe, Firas Raad, urged Zambia to accelerate energy sector reforms and diversify its electricity sources to unlock jobs and economic growth. Dr Raad said reliable and affordable electricity was critical to sustaining economic activities and supporting businesses, especially small and medium enterprises affected by load shedding and high operating costs. “Expanding reliable and sustainable energy supply is essential for Zambia to unlock productivity, support businesses and secure long term economic growth,” he said. He said Zambia’s future growth would depend on building a more resilient and sustainable energy system beyond hydropower.