HH Targets Doubling Zambias Economy

President HAKAINDE HICHILEMA has set an ambitious target of more than doubling the size of Zambia’s economy, with agriculture, mining, tourism, energy and manufacturing positioned at the centre of the country’s development agenda over the next five years. Addressing the National Assembly during the ceremonial opening of the First Session of the Fourteenth National Assembly, President HICHILEMA said Government will rely on the private sector to drive investment, create jobs and expand economic opportunities, while continuing to implement reforms aimed at improving the business environment. The President said the economy has recorded significant gains over the past five years, with annual inflation declining from more than 24 percent in early 2021 to 6.1 percent in September 2026. President HICHILEMA also cited a stronger and relatively stable Kwacha, record international reserves and progress in debt restructuring, including a US$1.36 billion Eurobond buyback, as achievements that must translate into tangible benefits for citizens. At the heart of the economic transformation plan is the 10-10-5-3-3-1-1-1 Grow Zambia Agenda, which targets 10,000 megawatts of electricity, 10 million tonnes of maize, five million tourist arrivals, three million tonnes of copper, three million tonnes of soya beans, and one million tonnes each of wheat, sugar and beef exports annually. In agriculture, President HICHILEMA said Zambia recorded 5.1 million tonnes of maize during the last farming season, providing a strong foundation for achieving the 10 million tonne target. He said Government also plans to place 500,000 hectares under irrigation, expand access to affordable agricultural financing and improve storage and market access. Meanwhile, in the mining sector, President HICHILEMA said Zambia is expected to reach three million tonnes of annual copper production, supported by renewed investment in existing operations and the development of new mining projects. The President added that Government will promote mineral processing, formalise small-scale mining and strengthen regulation, stressing that all mining activities must be conducted legally and safely.