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Friday, 11 September 2026 · Lusaka, Zambia
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Business & Economy

Zambia Economy This Week: A Petition in an Inbox, an Economy Marking Time

Courts shut on the petition deadline, a petition reached the Chief Justice by private email, ZIPAR found revenue behind target and copper output crept up 0.45%. The week to 26 August, reviewed.

Zambian kwacha banknotes in 10, 50, 100 and 200 kwacha denominations fed through a currency counting machine.

Courts shut on the petition deadline and reopened to news that a “people’s petition” had reached the Chief Justice by private email. ZIPAR found revenue behind target in a copper tax boom, first-half mine output crept up 0.45% and the kwacha drifted toward K19. Our review of 24 to 26 August.

Key takeaways

  • Court premises in Lusaka, Chipata, Kitwe and Solwezi closed on Monday, the deadline day for challenging the 13 August result. The Judiciary later confirmed that a document styled as “the people’s presidential petition” reached Chief Justice Mumba Malila by private email, and has referred it to the Constitutional Court to decide whether it counts as validly filed.
  • ZIPAR and UNICEF’s Mid-Year Budget Analysis, launched in Lusaka, found that Zambia held on to macroeconomic stability in the first half of 2026 while revenue collection fell below target, even with mining tax receipts lifted by high copper prices. Spending performance varied across sectors.
  • Copper output rose just 0.45% year on year in the first half, to 447,182 tonnes, a haul worth more than $6 billion at current prices. Reaching the government’s one-million-tonne goal for 2026 now takes roughly 553,000 tonnes in the second half, about a quarter more than Zambia mined in the same period of 2025.
  • The kwacha traded around K19.05 to the dollar on 25 August, from about K18.9 a week earlier, still inside the range it has kept since the election. Inflation stands at 6.5% and the policy rate holds at 13.25% until the Monetary Policy Committee meets on 30 September.
  • Final work at National Heroes Stadium is due by Friday 28 August for a swearing-in reported for 1 September. In Lusaka, the Great East Road town-bound lane closed on Tuesday until 2 October, six weeks of diversions for commuters and delivery fleets.

Zambia spent the first half of this week in a waiting room. The election is decided, the petition window has closed on its own strange terms, and the economy’s headline numbers barely moved. What moved were the details: a mid-year budget review that found the money coming in short of plan, a copper industry selling high and mining low, and six weeks of roadworks on one of Lusaka’s busiest commuter routes.

This review, third in our series since the vote, draws on the Judiciary, ZIPAR and UNICEF, the Ministry of Mines, the Bank of Zambia, the Zambia Statistics Agency and market pricing to take stock of the three days since Monday. The diary we published on Sunday promised a court deadline and a countdown to a new term. Both arrived, sideways.

The petition that arrived in an inbox

Monday was the last day to challenge the 13 August result in the Constitutional Court. It began with court premises shut in Lusaka, Chipata, Kitwe and Solwezi, armed police at the gates and a Judiciary memorandum citing security, as we reported that afternoon. The closures mattered because of the calendar: they fell on the deadline itself.

State House spent Tuesday denying that President-elect Hakainde Hichilema had ordered the shutdowns, while access questions persisted. Then, in the evening, the Judiciary confirmed the strangest detail of the week: a document styled as “the people’s presidential petition” had reached Chief Justice Mumba Malila through his private email address, and he had referred it to the Constitutional Court to decide whether it counts as validly filed.

That settles one narrow question, whether the chief justice saw the document. It does not settle the dispute that matters: whether Brian Mundubile, who took 37.87% of the vote against Hichilema’s 60.49%, managed to lodge his challenge through the front door before the deadline passed. Our report from Tuesday evening carries the Judiciary statement in full. If the court accepts the email petition as valid, the constitution gives it fourteen days to hear the matter. If it does not, the result stands.

Preparations for the ceremony that follows continued either way. Final work at National Heroes Stadium is due by Friday 28 August, complete with a turf protector brought in from South Africa to shield the pitch, the Ministry of Youth, Sport and Arts said on Monday, for a swearing-in reported for 1 September.

A budget behind target, in a boom

The week’s most consequential economics arrived not from government but from two research bodies. ZIPAR and UNICEF presented their annual Mid-Year Budget Analysis in Lusaka, alongside a policy brief titled Turning Debt Relief into Investment for the Next Generation. Their finding reads like a paradox. Zambia maintained progress on macroeconomic stability in the first half of 2026, helped by lower inflation, a steady exchange rate and continued reforms, and mining tax receipts were strong on the back of high copper prices. Total revenue still fell short of target. Spending performance, the report says, varied across sectors and spending categories.

Zali Bryson Chikuba, ZIPAR’s executive director, put it in a line built to outlast the launch: stability and discipline are the foundation, not the finished house. UNICEF’s representative, Dr Saja Farooq Abdullah, made the same point from the other end of the ledger: recovery is successful only when children benefit from it. Between those two sentences sits the second term’s whole assignment.

The timing matters because two documents are being drafted in the same corridors. Mwaka Mukubesa, Permanent Secretary for Budget and Economic Affairs at the Ministry of Finance and National Planning, told the launch that the 9th National Development Plan will aim to convert macroeconomic milestones into service delivery and stronger human capital. The 2027 Budget is being written in parallel. We argued on Monday that it should be judged on jobs and productive investment rather than allocations. The mid-year review points to a blunter pressure point: the money coming in.

Copper sells high, mines flat

The copper numbers explain half of that revenue puzzle. Output in the first half reached 447,182 tonnes, up 0.45% on the same period of 2025, figures from the Ministry of Mines show. Zambian Business Times values the haul at more than $6 billion, because price is doing the work that tonnage is not: copper has traded above $13,000 a tonne this month, near record levels.

The arithmetic for the government’s one-million-tonne target has turned steep. The second half of the year must deliver roughly 553,000 tonnes, about a quarter more than Zambia mined in July to December 2025, when full-year output set a record of 890,346 tonnes. Volumes, not prices, are what turn a copper boom into jobs, royalties and the stabilisation fund that the finance ministry promised in February to seed with windfall receipts. As we argued on Tuesday, the three-million-tonne ambition for 2031 needs an economy built around it: power, water, transport and skills growing with the mines.

The kwacha’s quiet week

Currency desks treated all of it as background noise. The Bank of Zambia’s official rate ended last week near K18.9 to the dollar; on Tuesday the kwacha changed hands around K19.05, roughly 2% softer on the month and still within the territory it has held since the vote. Commercial cash quotes have run a little above official rates all year. Foreign reserves stand at a record $6.5 billion, by Forbes Africa’s count, on the back of export earnings.

The macro calendar stays quiet until it does not. Inflation held at 6.5% in July, the lowest reading since February 2018 and inside the Bank’s 6 to 8% band. The policy rate stays at 13.25% until the Monetary Policy Committee meets on 30 September, the first rate decision of the new term. Nothing this week pointed to an emergency. A good deal of it pointed to a committee with room to keep easing if the petition passes quietly and the kwacha holds its line, a sequence our first post-election review sketched and this week kept on schedule.

The week in everyday costs

Two smaller stories will touch more households than the petition. From Tuesday, the town-bound carriageway of Great East Road is closed between Chelstone and Hybrid Roundabout until 2 October. Six weeks of diversions on one of the capital’s busiest routes means longer commutes and costlier deliveries, and the council’s notice names neither the alternative routes nor the reason for the works.

In the maize belt, the Food Reserve Agency is paying K347 for a 50-kilogram bag of Grade A non-GMO white maize this marketing season. Farmers at three Mumbwa satellite depots, Kamilambo, Kandesha and Kalenda, reported shortages of empty grain bags, the sort of small bottleneck that slows a harvest’s arrival in strategic reserves. In the same district, talks opened between Sinomine’s Kitumba copper project and the area’s MP-elect over local hiring and community investment, an early test of whether a new mine converts into local jobs.

What to watch

  • The Constitutional Court’s decision on whether the email petition counts as validly filed. Everything else on the political calendar hangs from it.
  • Friday 28 August, the deadline for finishing work at National Heroes Stadium, and the swearing-in reported for Tuesday 1 September.
  • The 30 September Monetary Policy Committee meeting, with inflation at 6.5% and the policy rate at 13.25%.
  • The 2027 Budget cycle and the next fuel price review, both of which resume in earnest once the inauguration is done.

The question the week leaves behind is the same one the election decided. Who governs is settled, on the bench and in the stadium. What governing delivers, from the court’s inbox to the maize depots to the concentrators on the Copperbelt, is the work of the term that begins next Tuesday.

Sources


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