Zambia is currently badly affected by the Covid’s second wave that is in July at the highest. The Stanbic Bank Zambia PMI (Purshasing Manager Index) edged down to 49.3 in June of 2021 from 49.7 in the previous month, signaling a marginal deterioration in Business conditions in the Zambian private sector. New orders fell slightly due to a lack of money in circulation (contraction of credit) but the consumer demand is still high creating a rise of the business activity. Regarding the price, purchase prices are rising sharply, largely due to the weakness of the Zambia Kwacha. This led the steepest output price inflation since November 2015. The Zambia’s Monetary Committee projects inflation to average 21.9 % this year. The 2020-21 farming season was a good one for grains and cereals. The tobacco production rose 50%. The cotton will increase by around 10% due to an increase of the planted area. 286,000 farmers are growing cotton across the country in 2020-21. Copper prices have remained high, that will bode well for economy. Looking forward, business confidence is positive but remains below average, amid worries about the Covid-19 pandemic. The country faces a huge external debt : 12,75 billion US$. This is the Central Government’s debt figure and doesn’t include the arrears that have arisen on this debt due to default and debt suspensions.
Some information about representatives:
The Embassy responsible for Zambia is in Daar Es Salaam (Tanzania). Peter Van Acker is the current Ambassador. Mr. Diego Casilli (IT/EN) is the Honorary Consul based in Lusaka (Zambia). He is also the CEO at Napoli Property Ltd. The Belgian community is a small one, mostly based in Copperbelt and Lusaka & surrounding. Zambian don’t have any Belgian Commerce Chamber but there is a EU-Zambia Business Club chaired by Mark Lüring (D/EN). He is also the Drake &Gorham Managing Director.
Visit 2 official sites : Zambia Public Procurement Authority : www.zppa.org.zmDelegation of the European Union to Zambia and COMESA://eeas.europa.eu/delegations/zambia/area/jobs-funds_en
The next poll will be held on the 12th of August 2021. The 7th National Development Plan expires end of that year. The next one is in progress with new targets and priorities. We can expect some fiscal reforms as IMF said “Key challenges remain including the implement reforms to correct large fiscal imbalances…”