The Zambia Statistics Agency has reported a decline in the country’s unemployment rate to 9.9 percent, down from 12.9 percent recorded in 2021.

Speaking at a town hall meeting on Zambia’s economic performance for the first quarter of 2026, Statistician General Sheilah Mudenda said the improvement reflects gradual progress in employment levels across the country.

Ms. Mudenda also noted that the employment-to-population ratio increased from 34.3 percent in 2023 to 37.1 percent in 2025.

Meanwhile, ZAMSTATS has announced plans to rebase the country’s Gross Domestic Product in 2026 to better reflect changes in the structure of the economy.

She explained that rebasing is necessary to capture sectoral shifts, economic diversification, and structural transformation, adding that the process aligns Zambia with international best practices, which recommend updating GDP benchmarks every five years.

Ms. Mudenda further revealed that the agency has launched the 2025 Economic Establishment Census, aimed at compiling a comprehensive database of active businesses for statistical purposes.

She said the next steps will include conducting an annual business register and preparing materials for data collection, as part of efforts to strengthen economic planning and policy formulation.

Government has disclosed that the newly commissioned Green Prefabricated Housing Production Plant under the Zambia National Shelter Company in the Lusaka South Multi-Facility Economic Zone will create more than 200 direct jobs especially for young people.

Minister of Infrastructure, Housing and Urban Development, Charles Milupi, disclosed that the facility, constructed at a cost of 12 million United States Dollars, will support the production of over 300 housing units annually.

Speaking during the commissioning of the plant, Mr Milupi described the project as a major milestone in government’s efforts in addressing the country’s housing deficit.

He said the plant represents a practical response to challenges brought about by rapid urbanisation and population growth, adding that it will help shift the country from slow and costly construction methods to faster, more efficient technologies.

He further highlighted that the project is a result of a strategic partnership between the National Housing Authority and a Chinese firm, which will not only deliver infrastructure but also facilitate skills transfer and capacity building in modern construction technologies.

Mr Milupi added that beyond housing, the plant will support the construction of other key infrastructure such as schools and health facilities, thereby improving service delivery across the country.

Speaking at the same event, Chinese Ambassador to Zambia, Han Jing, represented by commercial Counsellor of Chinese Embassy to Zambia, Jin Jun, said the development marks a new chapter in Zambia-China cooperation.

Mr Jing said the project reflects the growing strategic partnership between the two countries, particularly in infrastructure development and housing.

And National Housing Authority Board Chairperson, Nalukui Milapo disclosed that Zambia is currently facing a housing deficit of over 1.5 million units, with demand continuing to rise.

Dr Milapo added that the new plant will help scale up housing delivery through modern construction technology.

Minister of Finance and National Planning Situmbeko Musokotwane says reforms implemented by the government in the last four years have significantly contributed to the growth of the country’s economy.

Dr Musokotwane cited mining, manufacturing and energy as some of the sectors that have been impacted positively with the reforms carried out by the government.

He said Zambia has become a preferred destination for investment due to reforms and friendly policies put in place by the government.

The Minister said this during the 2026 first quarter budget, economic performance and outlook, town hall meeting in Lusaka.

Dr Musokotwane stressed that government reforms have greatly assisted in resuscitating the mining sector, which was on the verge of collapsing.

He explained that through reforms, the government has managed to turn around the situation with copper production rising from 700, 000 metric tons to 900,000 metric tons by the end of 2025.

The Minister hoped that this year, Zambia would be able to reach the projected one million metric tons of copper production following the conducive environment created in the mining sector.

“The country’s attractive investment environment can be attributed to the friendly policies that the government has been enacting in the last four years.

Zambia is now better off than it was when UPND took over the government, owing to the reforms carried out by the government across the economy,” Dr Musokotwane said.

He reaffirmed the government’s commitment to continue implementing reforms aimed at building a resilient economy.

He noted that the improvement of the economy is evident as seen in the stabilisation of the exchange rate and increased investments in the mining sector.

Dr Musokotwane added that the far-reaching reforms carried out by the government have also opened up the power sector.

He explained that the reforms implemented in the energy sector by the government were designed to attract private sector participation in power generation.

The Minister said if the government only relied on the public sector investment, Zambia would have continued grappling with power deficit.

On the manufacturing side, Dr Musokotwane noted that previously, Zambia was a net importer of fertilisers, but today the country is a major exporter of locally produced fertiliser.

Dr Musokotwane also indicated that Zambia was performing well in the exporting of ceramic towels.

Meanwhile, Secretary to the Treasury Felix Nkulukusa said that following the suspension of excise duty and zero-rating VAT on petrol and diesel for three months from April, to June,2026 the government will lose revenue close to four billion kwacha.

Mr Nkulukusa explained that the suspension of excise duty and VAT on petrol and diesel is meant to cushion the citizens against the impact of the high cost of fuel on the global market.

He bemoaned that should the war in the Middle East continue, then tax expenditure will increase on the part of the government.

Mr Nkulukusa projects that if the war continues to the end of the year, then the government will lose about 12 billion kwacha.

And speaking at the same event, Bank of Zambia Governor Denny Kalyalya disclosed that inflation in 2026 and the first three quarters of 2027 is projected to go down.

Dr Kalyalya further indicated the projection by the Bank of Zambia on inflation in the three quarters of 2027, at 6.3 percent, adding that chances are high of inflation further going down.

The Bank Governor however, said the ongoing geopolitical tension may have an opposite effect on the country’s inflation rate.

And he disclosed that the Central Bank has managed to mop up 97 percent of the old currency, which was in circulation, revealing that the country has in circulation about K21 billion of the new currency.

At the same event, Zambia Revenue Authority (ZRA) Commissioner General Dingani Banda disclosed that ZRA has improved in the collection of domestic taxes.

Mr Banda stated that the authority managed to collect 20 percent of domestic taxes, an achievement he described as a milestone.

He indicated that ZRA is determined to improve the collection of domestic taxes, as Zambia aspires to be like South Africa, whose collection of domestic revenue stands at 25 percent.

And making a presentation earlier, Zambia Statistics Agency (ZamStats) Statistician General Sheila Mudenda disclosed that the youth unemployment rate has dropped from 18.4 percent in 2021 to 14.2 percent in 2025.

She said the data collected by ZamStats shows that the youth unemployment rate has dropped in all the ten provinces.

ACCESS Bank Zambia Managing Director Iheanyi Nwogu commended government for the economic stability witnessed in the first quarter of 2026.

Dr Nwogu said the government has shown discipline and stability in the management of the country’s economy.

He said the Kwacha has finally found its footing following the prudent policies that the government is implementing.

Dr Nwogu said the conducive environment being created by the government has created investor confidence.

He however implored the government to ensure the gains achieved are sustained so as to foster economic growth. 

Motorists in Western Province have expressed happiness with the government’s decision to lift the ban on night-time movement of vehicles, describing the move as a positive step towards improving economic activities and transport efficiency in the region.

Speaking in an interview with the media in Mongu, Bus Station Chairperson, Abel Litiya, thanked the government for responding to public concern, noting that the decision would ease pressure on daytime transport operations and improve the flow of goods and services across the country.

Mr Litiya, however, appealed to the government to also speed up on the rehabilitation of the Mongu – Lusaka Road, saying its current state continues to pose challenges to motorists and increases travel costs.

He said improved road infrastructure would complement the lifting of the night travel restriction and further stimulate economic growth.

Mr Litiya further observed that the previous restriction on night travel had negatively affected business operations, particularly for traders and transporters who rely on long-distance travel.

He said the lifting of the ban will help restore efficiency in the transport sector and reduce congestion during daytime hours.

Meanwhile, Mumbi Chibuye, a motorist in Mongu District, said the decision is expected to have a positive impact on economic development, as it will allow for faster movement of goods and improved service delivery across various sectors.

Mr Chibuye added that the free movement of vehicles at night will not only ease transport challenges faced by passengers, but will also boost business activities, especially for traders who depend on timely deliveries.

He, however, urged fellow motorists to exercise caution and adhere to road safety regulations when travelling at night in order to reduce the risk of accidents.

Mr Chibuye also called on law enforcement agencies to strengthen road safety monitoring to ensure compliance among road users.

Mubuka Muyambango, another motorist, noted that the lifting of the ban would help reduce delays in cargo transportation, especially for perishable goods, and improve the overall efficiency of supply chains within and outside the province.

Mr Muyambango further encouraged the government to continue engaging stakeholders in the transport industry to ensure that the policy is implemented smoothly and benefits all road users.

The lifting of the ban has since been widely welcomed by transport operators and business communities, who believe it will contribute positively to national economic recovery and growth.