Zambia’s opposition Tonse Alliance elected Brian Mundubile as its president and presidential candidate ahead of the August 2026 elections. Mundubile defeated Dan Pule as Tonse split into rival factions. His rise comes as the Patriotic Front remains constrained by court injunctions, potentially positioning Tonse as an alternative opposition vehicle. Mundubile must still anchor himself in a registered party to qualify for nomination.

The IMF board approved the sixth and final review of Zambia’s lending program, unlocking a $190 million disbursement. The decision completed reviews under the extended credit facility agreed in 2022 and later expanded to $1.7 billion. The IMF cited progress on debt restructuring, fiscal consolidation, and social spending. Zambia chose to let the program expire without seeking an extension ahead of elections later in the year.

Hakainde Hichilema urged African Union members to show stronger political will in implementing institutional reforms, calling for faster decision-making and less fragmentation. Speaking at a virtual AU summit, he stressed peace and security, stronger early warning systems, and accountability. Hichilema also highlighted intra-African trade and education as foundations for growth and stability, while leaders including William Ruto backed reform momentum.

Zambia recorded a record $2.36 billion in foreign direct investment in 2024, a 286% increase from 2023, according to the Bank of Zambia. Officials said inflows were driven mainly by reinvested earnings in mining, manufacturing, financial services, and commercial banking sectors. Reinvestments improved investor confidence after debt restructuring. While early 2025 inflows slowed, authorities said economic reforms and policy measures continue to support long-term investment recovery.

Norway and Zambia signed a policy agreement under Article 6 of the Paris Agreement to cut emissions and strengthen Zambia’s energy security. The deal allows Norway to buy up to 3.5 million tonnes of verified carbon reductions over 10 years while supporting renewable investment, including up to 300 megawatts of new solar capacity. Officials said the cooperation aligns climate goals with energy and development priorities.

Zambia is accelerating energy reforms after drought cut hydropower output and caused widespread shortages. The government is opening electricity markets, fast-tracking project approvals, and prioritizing solar to diversify supply. Authorities plan to add at least 1,000 megawatts by 2027, backed by Chinese partnerships, private investors, and banks. New projects aim to reduce reliance on hydropower, stabilize the grid, and support industrial and household demand.

Zambia reported an 8% rise in copper production in 2025, driven by stronger output at major mines, the mines ministry said. Total production reached 890,346 metric tons, up from 825,513 tons in 2024, but missed the one million ton target. Higher volumes came from Konkola, Mopani, Kansanshi, and Lubambe mines, while a tailings dam collapse and lower ore grades reduced output at other sites during the reporting year period.

President John Dramani Mahama will undertake a three-day state visit to Zambia from February 4 to 6, 2026, at the invitation of President Hakainde Hichilema. He will hold bilateral talks, address Zambia’s National Assembly, meet the Ghanaian community, and co-chair a Ghana-Zambia Business Dialogue. The visit aims to strengthen diplomatic relations, promote trade and investment, and advance cooperation under the African Continental Free Trade Area (AfCFTA). The visit also includes Ghana-Zambia digital and fintech collaboration.

Zambia reduced fuel pump prices for the month of February after the kwacha appreciated more than 10% in January and global oil prices eased. Economist Kelvin Chisanga said the stronger currency lowered import costs under the market-based pricing system, without subsidies. Petrol, diesel, kerosene, and Jet A-1 prices all fell from February 1, easing transport costs and supporting disinflation, while sustaining fiscal discipline.