The Economy Of Zambia

This web page will keep the finger on the heartbeat of the economy of Zambia. For starters, here is the background information about the Zambia economy from 1964 to date.

With that introduction, take a look at the news about the Zambian economy as reported from newspaper around the world…

Zambian Currency

The Zambian money is denominated into Kwacha and ngwee. Find out much more about the Zambian money.

Now let’s take a look at certain segments in the economy of Zambia...

How the Global Financial Crisis Affected the Zambian Economy

How did the global financial crisis affect Zambia? What were the Zambian economists saying? Click here to find out how the global financial crisis affected Zambia!

How did the global financial crisis affect the Luanshya town economy? Click here to find out how Luanshya was affected!

The 2012 Zambian Budget

The 2012 Zambian Budget – “making Zambia a better place for all”

The 2011 Zambian Budget

The 2011 Zambian Budget - ‘people’s budget from people’s government’ Read the 2011 Zambian Budget Here.

The 2010 Zambian Budget

The 2010 Zambian Budget - To Enhance Growth through Competitiveness and Diversification, check here.

The Performance of The Economy of Zambia In 2009

In 2009,the Zambian economy improved, despite the global financial crisis! Read More.

Zambian Inflation

For all information pertaining to Zambian inflation figures, check here.

Air Travel

Zambezi Airlines – Excellent Customer Service. Read More!

Financial Institutions

Zambia National Commercial Bank

Zanaco – Big, Strong, Reliable. The only bank which is “Citizen owned”.

National Pension Scheme Authority

NAPSA celebrates the 10th Anniversary in the year 2010.

The International Commercial Bank Zambia Limited (ICB Zambia) is a licensed commercial bank offering full range services to all sections of Zambian Society.

Tourist Destinations

At Kafue River Cliff,you can enjoy an executive boat cruise on Lady Betty.

Pansupa Lounge and Restaurant exclusively provides African dishes with more emphasis on Zambian delicacies.

Zambian Farming

The Zambian agriculture sector is poised for good things to come in the future! Why is this? Read More!

Zambeef Maize Production - Sub-Saharan Africa’s biggest cropping operation. Read More!

Zambian Cattle Ranching could become a major foreign exchange earner. Read More!

The cost of Zambian fertilizer will continue to impact negatively on the food security. Here are the reasons why this is so…

The New Kapiri Fertiliser Plant is to start producing new organic fertilizer known as Extrasol. This was revealed in a deal worth US $20 million signed by the Zambian government and Agrobiotech International limited of Russia.

It was on 18th April 2011, that Hybrid Poultry Farm celebrated its 50th anniversary. First, incorporated on 18th April 1961 in Northern Rhodesia – it is order than the Republic of Zambia, which got its independence in 1964!

Biodiesel In Zambia? With the current power shortages, high oil prices, and black-outs, it will be a welcome alternative!

Growing Jatropha in Zambia could be one of the alternative renewable energy sources.

Mining

The country is highly dependant on revenue from the Zambian copper mines and any fluctuations in the price of the commodity on the international market reflects on the economy. In short, the economy of Zambia is mostly driven by global trends in copper prices. As it is, the country’s quick recovery from the effects of the global economic crisis was mainly attributed to an upward shift in the prices of the commodity on the international market.

These rising prices are being complimented by similar upward shifts in copper output. In the first half of 2010, copper output rose by 10.2 percent to 363,682 metric tones. At the end of the year it rose to 750,000 tonnes. Compare this with 330,125 metric tones in 2009.

In the year 2011, the country’s copper production is projected to rise to 850,000 tonnes.

New mines such as Lumwana Copper Mines and Kansanshi mines in north-western province, Mkushi in the central province and Mulyashi open pit mine in Luanshya on the copper belt province and others are pushing up total production.

For example, Lumwana Mines Copper production for the year ended 2010 increased by 34 percent reaching 146,690 tonnes.

On the other hand, old mines like the Baluba mines in Luanshya, Nchanga in Chingola and several other mines are being re-equipped to revamp production to capacity in the economy of Zambia.

The new wave of demand for copper on the international market is being fuelled by the increasing demand from emerging and developing economies of Asia, in particular China. And this demand in copper has led to a number of new investments in the sector.

There is also Albidon’s Munali Nickel mine in Mazabuka, the first ever Nickel mine in Zambia.

After investing about $124 million, the Mine opened in July 2008. On 3rd March 2009, the Mine was put under care and maintenance, rendering 350 Albidon and contractor employees redundant.

Albidon stated that the suspended production was due to the collapse in nickel price which slumped 56% since its opening in July 2008. On 26th March 2010, Munali Nickel Mine was re-opened again.

On 8th July 2011 Maamba Collieries,the largest producer of coal in Zambia was reopened again, this time by President Rupiah Banda.

A new Mkushi Copper Mine is to be opened in Mkushi district and is to be named as Mkushi Copper Joint Venture Limited... Read more!

These mines, together with the higher commodity prices have had an effect on the rapid development of towns such as Solwezi town.

Others

Lafarge Cement Zambia

Lafarge Cement Zambia is part of the Lafarge Group which is the world leader in Building materials.

Zambezi Portland Cement Limited

Zambezi Portland Cement Limited entered the cement production industry in October 2009. The entry assured Zambians of getting the commodity cheaply.

Another big player in the economy of Zambia is Zambia’s largest sugar producer, Zambia Sugar Plc is found in Mazabuka where sugarcane is grown at the Nakambala Sugar plantation on Kafue flats.

The Kafue Steel Plant is a boon to the Kafue town economy as well as to the economy of Zambia!