Opinion Opinion
US credit reopening, AGOA extension shows confidence in HH’s renewed mandate
The reopening of US EXIM Bank credit and insurance facilities for Zambia’s private sector, alongside the extension of AGOA to 2028, presents new opportunities for businesses to expand, create jobs and increase the country’s production and exports.
Picture: Times of Zambia
Special Report
Zambia under the UPND New Dawn administration has been handed a transformative economic opportunity, in the vote of confidence exhibited by the United States Government, that has complemented President Hakainde Hichilema’s crusade to empower ordinary Zambians.
Washington’s decision represents the international confidence that influences the willingness of investors and financial institutions to engage with a country following President Donald Trump’s decision to sign African Growth and Opportunity Act (AGOA) extension through 2028.
The real significance of the latest developments in Washington, United States of America, announced on Friday, September 4, 2026, lies not simply in the diplomatic applause that accompanies them, but in what they mean for ordinary Zambians.
The reopening of short term commercial credit and insurance facilities by the United States Export-Import (EXIM) Bank for Zambia’s private sector, coupled with the extension of the AGOA through December 2028, creates an important platform for Zambian businesses to expand production, acquire modern technology, enter new markets and create employment.
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Taken together, these developments represent more than another announcement about Zambia and the United States.
They provide an opportunity to move Zambia further away from an economy dominated by the export of raw materials and towards one in which Zambians increasingly manufacture, process, package and export finished and higher-value products.
That is where the real empowerment lies, complementing President Hichilema’s crusade to empower ordinary Zambians.
For decades, Zambia has possessed enormous agricultural, mineral and human-resource potential and yet the country has often struggled.
Source: Times of Zambia — Read more
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