Three weeks ago, I issued a statement on behalf of the Republican Progressive Party (RPP), and in my capacity as Party President, commending the UPND Government on the positive economic developments our country is beginning to experience. Today, even as we mourn former president Edgar Lungu, we cannot overlook the encouraging signs of economic resilience and progress.
Fellow citizens, despite these dark days of mourning, the Zambian economy has continued to show signs of resilience and stoicism against emerging challenges. For instance, the Kwacha has appreciated to levels below K23 for the first time in 16 months, while fuel prices have been trending downwards on the domestic market.
This has happened even in the face of heightened geopolitical and geo-economic tensions,particularly in the Middle East, which pose risks to the recent economic gains our country has recorded. Notably, Bloomberg—a globally respected media outlet—has ranked Zambia as one of the fastest-growing economies on the African continent, with the Kwacha being recognised as
the second-best performing currency in Africa.
Furthermore, the United Nations in Zambia released the 2025 Human Development Report last week, revealing that Zambia has improved its Human Development Index (HDI) from 0.551 in 2014 to 0.588 in 2024. This reflects notable progress in areas such as access to education, health, and improved living standards for our people.
Policies such as free education, the massive recruitment of teachers and health workers, and the unlocking of domestic resources to clear longstanding arrears and pensions are beginning to bear fruit. As RPP, we commend the UPND Government for their continued fiscal discipline,resilience, and steadfast policy direction under extremely challenging global circumstances.
We are hopeful that the recently announced ceasefire in the Middle East will help bring stability to that region and prevent possible hikes in global oil prices, which could otherwise reverse the gains we have seen in reducing fuel prices locally.
At the same time, we remain watchful of international copper market developments.
The deepening copper squeeze and historic backwardation, caused by falling inventories, potential US tariffs, and pricing crises at smelters, are likely to drive copper prices to record highs in the medium term. As a copper-producing nation, Zambia is poised to benefit significantly from these developments.
In conclusion, even as we mourn, let us remain hopeful, prayerful, and focused on preserving peace, unity, and the progress we are making as a nation.
I thank you.
Leslie Chikuse
Thanks for a piece of info
Leslie stop dreaming. It’s not yet bedtime
Yes, the best performing currency for only the last month. Show us the graph and let us see how well the Kwacha has performed in the past year?
Tax payment in forex have bolstered the forex reserves but once this is over in the next 3 months or so, we will then see how well this stability in forex exchange rate will last.
Bloomberg are being very unprofessional in their reporting to say the least and have only given a 5 percent over view on the Zambian economy. Only a few months ago was our currency one of the worst performing in the world. Show us the graphs oh but actually with the power of the internet you can easily check and see that ZMW was at 30 to the USD 3-4 months ago!
We will give kudos when the currency is stable for at least a year, not two weeks!
Tafibwa lubilo. Mr. President HH, keep with the same fighting spirit. There’re normal Zambians like me.
Bally – Excellency, koseni!!! You are still fixing it….
Why are you in opposition instead of joining the UPND. You surely don’t want to fix what you see as working. Stop wasting your time and join them.
Wait accept everything at face value at the end of the day only you will cry
The author can’t determine the path of our economic disaster on his own. He is quoting Bloomberg, a Jewish TV channel which says good stuff about every friend of Israel. Just dig a little
In my honest opinion, HH will win the next election and I am not UPND!
The resilience you are seeing is a bubble. The reason is simple. The USA currency has seen alot of bumps in the Cabora Bassa rapids of Mozambique. The Kwacha gain has nothing to do with Zambia.
You’re NOT an economist ,witchcraft reasoning .
Sure the rich get richer and the poorer stagnate
Bally fixing nothing really He needs to concentrate on his soiled image due to the ELC debacle
Zambia is bigger than ECL…….
FWD2031
Another witchcraft reasoning devoid of sound economics.
The poor are POOR bcoz of their lack of marketable skill sets,poor in assets or poor thinking .Tikki is reinforcing more poverty inducing mentality.
Every economic indicator under HH has been on an upward trend unlike the gloomy PF years of stagnation and debts.
Bally has raised the presidential bar too high such that ……
The opposition are all left looking like street traffic light hawkers……..
FWD2041
In my honest opinion, HH will win the next election and I am not UPND!
You may be right only because Zambians havent ventured far and know no better
they cannot recognise fact from friction
What is honest about that? In fact we know you are UPND paid to blog like that
“”The soul becomes dyed with the colour of its thoughts.” – Marcus Aurelius
Zambia is poor because the mentality of its people ….unlike Singapore,Korea etc.