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Zambia’s Economic Resurgence: Growth at a Four-Year High

  • Writer: Derry Thornalley
    Derry Thornalley
  • Sep 11
  • 2 min read

Zambia is on track for its strongest economic growth in four years, with GDP expected to expand by more than 6% in 2025. For a country that only recently completed a painful debt restructuring, this rebound is both remarkable and instructive.


The Drivers of Growth

At the heart of the recovery is copper. Global demand for the metal—essential for electric vehicles and renewable energy—has lifted Zambia’s output and exports. But this isn’t just a commodity story.

Reforms pushed by government and supported by international partners are stabilising public finances, restoring investor confidence, and creating space for broader economic activity. Agriculture, energy, and services are beginning to contribute more meaningfully to growth.


Why This Matters

For years, Zambia’s economy was held back by a toxic mix of debt, inflation, and currency pressure. Completing restructuring under the G20 framework was painful but necessary. The reward is now becoming clear: renewed access to credit markets, stronger foreign investor interest, and fiscal breathing room to reinvest in development.


This turnaround sends a powerful signal to the rest of Africa: debt distress is not the end of the story—if handled transparently, it can be the beginning of renewal.

Heavy plant machinery at a Zambian copper mine.

The Bigger Picture

A 6% growth rate would place Zambia among the fastest-growing economies on the continent in 2025. But sustainability will depend on:

  • Diversifying exports beyond copper

  • Strengthening domestic revenue mobilisation

  • Managing debt prudently to avoid slipping back into crisis


If Zambia can get this balance right, it could transition from recovery to resilience—and serve as a model for other resource-rich African states.


Final Thought

Zambia’s story is a reminder that economic fortunes can change. What matters is discipline, reform, and the courage to reset when necessary. For investors, development partners, and the Zambian people, 2025 could be the year where optimism replaces uncertainty.

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