ZACCI Commends Zambia’s Macroeconomic Gains, Urges Structural Reforms for Inclusive Growth 

The Zambia Chamber of Commerce and Industry (ZACCI) has applauded the government for significant strides in macroeconomic stabilization, noting marked progress in fiscal and monetary reforms aimed at positioning the country for long-term sustainability.

In a statement issued by ZACCI President Anthony Kabaghe, the Chamber recognized the narrowing fiscal deficit, improved debt servicing, and the appreciation of the Kwacha by about 19% since March 2025 as signs of renewed investor confidence and effective economic stewardship.

“These gains are consistent with the objectives of Vision 2030 and offer a pathway toward a more inclusive and prosperous Zambia,” Kabaghe said.

He, however, cautioned that vulnerabilities remain, particularly due to the country’s overreliance on imports, a narrow export base of primary commodities, and a dominant informal sector. ZACCI has launched a formalization strategy to transition informal businesses into the mainstream economy, thereby expanding the tax base and improving job quality.

The Chamber expressed concern over recurring energy deficits, especially their impact on SMEs and industrial productivity. Kabaghe welcomed the recent launch of the 100 MW Chisamba solar plant, calling it a milestone in renewable energy and public-private collaboration. 

He urged increased investment in solar, wind, and mini-hydro power to build a climate-resilient energy sector.

On industrial growth, ZACCI emphasized the importance of import substitution and local content development. Sectors like textiles, processed foods, and mineral beneficiation, particularly copper cables, were highlighted as key for regional trade competitiveness under the African Continental Free Trade Area (AfCFTA).

The Chamber also reiterated its support for a robust local content policy, greater enforcement of foreign exchange regulations, and targeted support for downstream value addition in gold, gemstones, and agro-processing.

“Zambia must strategically leverage low-hanging industrial opportunities to achieve broad-based, inclusive development,” Kabaghe added.

ZACCI reaffirmed its commitment to evidence-based policy advocacy and public-private dialogue to ensure ongoing reforms yield tangible socio-economic dividends for all Zambians.