Zambia Emerges as Africa’s Fastest-Growing Economy – Bloomberg
Zambia has been named Africa’s fastest-growing economy and is set to outpace global markets, according to Bloomberg’s updated economic outlook. The report, authored by Matthew Winkler and released this month, follows a presentation on Zambia’s prospects delivered at the Africa Business Media Innovators Summit (ABMI) 2025 in Livingstone.
Bloomberg projects Zambia’s GDP growth to exceed 6% in 2025 – the country’s strongest performance since 2018, when growth stood at 4%. This marks a significant economic turnaround, driven largely by a milestone debt restructuring achieved in June 2024. That breakthrough spurred a remarkable 26% total return on Zambian bonds, double the average return for emerging and high-yield markets over the past year.
Finance and National Planning Minister Dr Situmbeko Musokotwane welcomed the revised forecast, crediting President Hakainde Hichilema’s leadership and the New Dawn Administration’s disciplined reform agenda.
He noted that Zambia had “substantially repaired the self-inflicted economic regression experienced between 2019 and 2021” and reaffirmed the government’s commitment to fiscal discipline, debt sustainability, and fostering an investment-friendly environment for inclusive growth.
Investor confidence has surged as creditors extend Zambia’s bond maturities, drawing parallels with Greece’s rebound from a debt crisis. In Greece’s case, similar reforms ultimately delivered a 15% return and restored investment-grade status – a trajectory that Zambia now appears to be following. Bloomberg analysts suggest that the country’s upward market momentum could pave the way for a formal credit rating upgrade.
“Zambia is a case study in economic resilience and smart reform,” said Bloomberg’s Matthew Winkler, highlighting the country’s growing credibility on the global capital markets.
In a joint message, Bloomberg News Editor-in-Chief (Emeritus) Matthew Winkler and Bloomberg News Africa Managing Director Arijit Ghosh praised Dr Musokotwane’s contribution to discussions at ABMI 2025, commending Zambia’s “sound policy direction and the benefits of credible, data-driven reporting”. They reaffirmed Bloomberg’s commitment to future collaboration with Zambia, describing the hosting of ABMI in Livingstone for the second time as a privilege.
Representing President Hichilema at the summit, Dr Musokotwane delivered a keynote message emphasising the shared responsibility of Africa’s business media to foster economic development. His remarks, according to Bloomberg executives, “resonated strongly with participants and set the tone for constructive dialogue throughout the event.”
The minister also joined Bloomberg TV’s Chief Africa Correspondent and Anchor, Jennifer Zabasajja, for a fireside chat on Zambia’s fiscal and monetary policies. The conversation covered key priorities including copper exports, education reform, and regional economic integration – all critical to Zambia’s long-term growth and sub-Saharan Africa’s economic future.
ABMI 2025 brought together government, business, and media leaders from across Africa to exchange ideas and advance strategies for the continent’s economic progress.
