Musokotwane Urges Youth and Entrepreneurs to Seize Opportunities as Zambia Secures Final IMF Review
Minister of Finance and National Planning Dr Situmbeko Musokotwane, MP, has called on young people and entrepreneurs to engage confidently with Zambia’s evolving economy, following the announcement of a Staff-Level Agreement (SLA) between the Government and the International Monetary Fund (IMF) under the Extended Credit Facility (ECF) programme.
In a reflective message addressed to youth and small and medium-sized enterprises (SMEs), Dr Musokotwane said the agreement, which marks the sixth and final review of the IMF-supported programme that began in 2022, represents more than a technical milestone. Subject to IMF Executive Board approval, it will unlock a final disbursement of about US$190 million, bringing total IMF support to US$1.7 billion.
He said the development confirms that Zambia has stayed the course through a difficult reform period marked by droughts, global price shocks and legacy debt, and has begun restoring macroeconomic stability and credibility.
“These numbers may feel distant, but they quietly shape whether you can plan, invest, hire, borrow, or take a risk,” Dr Musokotwane said, adding that restored stability is already translating into practical benefits such as a more stable currency, easing inflationary pressures, improved fuel and transport costs, and renewed investor confidence.
The Minister noted that Zambia’s gross international reserves have risen to US$5.2 billion, equivalent to about five months of import cover, strengthening the country’s ability to withstand external shocks. He added that progress in resolving external debt and recent sovereign credit rating upgrades signal growing international trust in Zambia’s economy.
Looking ahead, Dr Musokotwane said the IMF projects average economic growth of 5.6 percent between 2026 and 2031, driven by mining, agriculture, energy reforms and private investment. He emphasised that such growth creates the conditions for business expansion, job creation and greater opportunities for young people.
He said the 2026 National Budget, themed “Building on Economic and Social Wins for a Prosperous, Resilient, and Inclusive Zambia”, is designed to convert macroeconomic stability into opportunity. The K253.1 billion budget targets 6.4 percent growth in 2026, inflation within the 6–8 percent range, and a fiscal deficit of 2.1 percent of GDP.
Dr Musokotwane highlighted continued investment in education and skills development, citing expanded free education, nationwide rollout of the Home-Grown School Feeding Programme, teacher recruitment, and increased enrolment in Technical Education, Vocational and Entrepreneurship Training (TEVET) institutions. He said these measures recognise the importance of artisans, technicians and entrepreneurs in a modern economy.
Employment opportunities are also expected to expand through public service recruitment, including the planned hiring of 3,000 health workers in 2026.
For entrepreneurs and SMEs, the Minister pointed to empowerment programmes such as the Constituency Development Fund, Citizens Economic Empowerment Fund, and Cash-for-Work, alongside new measures in the 2026 Budget, including a K5 billion SME financing facility, reduced penalties, duty removals on key inputs and procurement preferences for local businesses.
While acknowledging ongoing risks from global uncertainty, climate shocks and debt vulnerabilities, Dr Musokotwane said Government remains committed to fiscal discipline, improved management of state-owned enterprises, energy and logistics reforms, and creating a business-friendly environment.
He announced that in January 2026, the Ministry of Finance and National Planning, together with the Bank of Zambia and the Zambia Revenue Authority, will convene a National Townhall Meeting to engage citizens, entrepreneurs and young people on economic performance and the outlook ahead.
In concluding, Dr Musokotwane urged citizens to engage constructively with empowerment programmes, describing them as building blocks rather than guarantees.
“This moment belongs to you,” he said, adding that under the leadership of President Hakainde Hichilema, Government is working to stabilise the economy so that the creativity, ambition and effort of young people and entrepreneurs can flourish.
