On his first foreign trip since re-election, President Hakainde Hichilema met UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi, as the two sides signed US$2.14 billion in memoranda of understanding and pressed on with a trade agreement. The harder test is how much of that paper turns into projects on the ground.
KEY TAKEAWAYS
- President Hichilema held talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan at the Presidential Palace in Abu Dhabi on 29 September 2026, his first foreign visit since the August election.
- Memoranda of understanding worth US$2.14 billion were signed at a Zambia-UAE business forum, covering agriculture, energy, healthcare and the digital economy.
- Non-oil trade between the two countries reached US$3.4 billion in 2025, up 64.5% on 2024, according to figures cited by the UAE side in February.
- Both governments want to conclude a Comprehensive Economic Partnership Agreement (CEPA). MoUs are statements of intent, so the number to watch is how much reaches financial close.
- Hichilema also conveyed condolences on the death of Sheikh Ahmed bin Rashid Al Maktoum, who died on 21 September aged 76.
Zambia has asked the United Arab Emirates to become one of the main financiers of its growth plan, and the UAE has signalled it is willing to listen. President Hakainde Hichilema met Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi, at the Presidential Palace in Abu Dhabi on the afternoon of 29 September 2026. The talks focused on deepening bilateral ties, and Hichilema described the UAE as “a strategic partner as we implement the Grow Zambia Agenda.”
The trip is Hichilema’s first abroad since he won a second term in August. Picking Abu Dhabi for that slot says something about where State House expects capital to come from over the next five years. We covered his arrival and the visit programme and his meeting with Mopani co-owner IRH separately.
What the President said
In a statement posted on his official Facebook page, Hichilema noted that the two countries have “continued to strengthen their relations and cooperation, with both countries opening diplomatic missions in each other’s capitals.” He said the discussions “focused on deepening these bilateral ties for the mutual benefit of our people.”
He also used the meeting to convey condolences to Sheikh Mohamed and the people of the UAE on the passing of Sheikh Ahmed bin Rashid Al Maktoum. Sheikh Ahmed, a brother of UAE Vice President and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum, died on 21 September aged 76. Dubai declared ten days of mourning.
Gulf News reported that Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and several UAE ministers attended the talks, and that both leaders expressed hope that a Comprehensive Economic Partnership Agreement would mark a step forward in economic relations once finalised.
From embassies to a trade deal
The relationship has moved quickly. Zambia opened its embassy in Abu Dhabi in 2023, and Zambia Monitor reports that the UAE posted its first resident ambassador to Lusaka this month. Trade has grown faster than the diplomacy. Non-oil trade reached US$3.4 billion in 2025, a 64.5% increase on 2024, according to figures cited when UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi met Hichilema in February.
The largest single Emirati bet in Zambia is already in the ground. Abu Dhabi-backed International Resources Holding has put about US$1.1 billion into Mopani Copper Mines, Lusaka Times reports, after taking a controlling stake in 2024.
| Indicator | Figure | Source |
|---|---|---|
| Non-oil trade, 2025 | US$3.4 billion | UAE Ministry of Foreign Trade, via SolarQuarter (Feb 2026) |
| Growth on 2024 | 64.5% | As above |
| MoUs signed at Abu Dhabi business forum | US$2.14 billion | Lusaka Times (29 Sept 2026) |
| IRH investment in Mopani Copper Mines | About US$1.1 billion | Lusaka Times (29 Sept 2026) |
| Zambia embassy in Abu Dhabi opened | 2023 | Zambia Monitor |
Why power sits at the centre of the pitch
Zambia’s target of three million tonnes of copper a year will need roughly 8,000 megawatts of electricity, Hichilema told investors at the forum, according to Lusaka Times. The country is still recovering from the 2024 drought that cut hydropower output at Kariba. To close that gap, the government offered independent power producers long-term power purchase agreements of 20 to 25 years.
Emirati renewable energy developers such as Masdar are already active in several African markets, so the offer lands with a receptive audience. Long contracts give developers revenue certainty. They also commit ZESCO to paying for decades, which matters for a utility whose finances remain under strain.
What does US$2.14 billion in MoUs actually mean?
An MoU is a statement of intent. It carries no binding obligation to invest. Zambia has signed large headline figures at investment forums before, and the share that reaches financial close has often been much smaller. The useful question for the months ahead is not the size of the pledge but the number of projects that secure land, licences, power connections and funding.
Three things will show whether this visit delivers:
- A signed CEPA, with a published schedule of tariff and services commitments that Zambian exporters can use.
- Named projects with dates, especially in energy and agro-processing, where the forum MoUs were concentrated.
- Export growth, not only imports. A headline trade figure says little about who gains. A deal that lifts Zambian value-added exports, rather than raw minerals or new import lines, would do more for jobs at home.
What it means for business and households
For businesses, a CEPA could cut tariffs and paperwork on goods traded with the UAE and open Emirati markets to Zambian agricultural and processed products. For households, the link is electricity. New generation that comes online under long-term contracts would reduce load-shedding, though tariffs would need to reflect the cost of that power.
For policymakers, the visit adds weight to a shift the Ministry of Finance has signalled since Situmbeko Musokotwane’s reappointment: a move toward export-led growth backed by private and foreign capital rather than public borrowing.
What happens next
The immediate milestone is the CEPA. Both governments say they want it concluded, but no signing date has been announced. The Zambian Economist will track which of the forum MoUs move to binding agreements and report on them as details are published.
Frequently asked questions
Why did President Hichilema visit the UAE?
To deepen bilateral ties and attract investment for the Grow Zambia Agenda. He met UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi on 29 September 2026 and attended a Zambia-UAE business forum.
How much trade is there between Zambia and the UAE?
Non-oil trade was US$3.4 billion in 2025, up 64.5% from 2024, according to figures cited by the UAE Ministry of Foreign Trade.
What is the Zambia-UAE CEPA?
A Comprehensive Economic Partnership Agreement is a trade and investment deal covering tariffs, services and investment flows. Zambia and the UAE are negotiating one, and both leaders said they hope to conclude it.
Related coverage
- Hichilema Arrives in Abu Dhabi as Zambia Presses the UAE for Investment and a Trade Deal
- Hichilema Presses Mopani Co-Owner IRH on Copper Output and Local Content in Abu Dhabi
- Zambia After the Oath: The Economic and Diplomatic Tests of Hichilema’s Second Term
- Musokotwane Pivots Zambia Toward Export-Led Growth as Jobs and Investment Take Centre Stage
- Hichilema Swears In Four Ministers: Haimbe Returns at Foreign Affairs, Musokotwane Retained at Finance
- Economic Diplomacy and Zambia in the Global Economy (hub)
Further reading elsewhere
- Lusaka Times: HH seals US$2.14 billion in pledges as Abu Dhabi opens its doors to Zambia
- Gulf News: UAE President and President of Zambia discuss growth of bilateral ties
- Zambia Monitor: Hichilema heads to UAE on investment drive
- SolarQuarter: UAE and Zambia talks on renewable energy and trade
- National Assembly of Zambia: Zambia and United Arab Emirates, a growing economic alliance
Is your business looking at the Gulf market? List it in the Zambian Economist Business Directory or submit an analysis.
Related: Hichilema Returns From Abu Dhabi as Musokotwane Sets the Real Test for US$2.14bn UAE Deals.
Related: Lobito Corridor Talks Open in Lusaka With a US$28 Billion Investment Pipeline on the Table.
WARNING! All rights reserved. This material and all other digital content on this website may not be reproduced, published, broadcast, rewritten, or redistributed, in whole or in part, without the prior express permission of The Zambian Economist. Where permission is granted, the content must be clearly credited to “The Zambian Economist,” with “www.zambianeconomist.com” prominently displayed.
WhatsApp: +260775574228 | Email: info@zambianeconomist.com
© 2026 The Zambian Economist.
