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Zambia

Country Code: 894

ISO2 Code: ZM

ISO3 Code: ZMB

Country Economic Snapshot

2021-08-19

Zambia is large, landlocked, sparsely populated resource-rich country in the centre of Southern Africa. The country has a population of 17.8 million people and a GDP in 2020 of US$18.5bn.

GDP contracted by an estimated 4.9% in 2020 as a result of the pandemic, after growing by 4.0% in 2018 and 1.9% in 2019. After 15 years of significant socio-economic progress and achieving middle-income status in 2011, Zambia’s economic performance has stalled in in recent years.

The decline in 2020 reflected a deterioration in all the key sectors of the economy. Manufacturing output fell sharply as supply chains were disrupted, while the service and tourism sectors were affected by weak private consumption and investment due to lockdowns and travel restrictions. Mining output, which declined initially due to falling global demand for copper, is recovering amidst production disruptions in South America. Zambia’s public and publicly guaranteed debt hit 91.6% of GDP in 2019 and 104% in 2020, a substantial portion of which is owed to China.

The economy is projected to grow by 1.0% in 2021 and 2.0% in 2022, underpinned by recovery in the mining, tourism, and manufacturing sectors. The recovery in international demand and copper prices are positive developments, while a reduction in coronavirus cases will boost manufacturing and tourism activity. The recovery will also be fuelled by the commissioning of a new hydro power station, and a return to normal rainfall patterns ,supporting growth in agriculture. Zambia is experiencing a large demographic shift and is one of the world’s youngest countries by median age. Its population is largely urban and is growing rapidly at 2.8% a year.

The recent landslide poll victory by opposition leader Hakainde Hichilema, who replaces President Edgar Lungu, is an important milestone for democracy in Africa. The electoral swing shows voter determination to reject oppressive and corrupt government, and the handover of power was achieved without bloodshed. Hichilema is a successful businessman, and is expected to restore respect for human rights and urgently address the countries debt mountain.

Info

Capital Lusaka
Currency (Name, Abbreviation, Symbol) Zambian kwacha , ZMK , ZMK
Area 752,618 sq km
Type of Government presidential republic
Languages (Bemba (official) 30.1%, Nyanja (official) 10.7%, Tonga (official) 10.6%, Lozi (official) 5.7%, Chewa 4.9%, Nsenga 3.4%, Tumbuka 2.5%, Lunda (official) 2.2%, Kaonde (official) 2%, Lala 2%, Luvale (official) 1.7%), English (official) 1.7%, other 22.5% (2000 Census)
Natural Resources copper, cobalt, zinc, lead, coal, emeralds, gold, silver, uranium, hydropower
Type of Industry copper mining and processing, construction, foodstuffs, beverages, chemicals, textiles, fertilizer, horticulture
Stock Exchange Lusaka Stock Exchange
Stock Exchange Location Lusaka
Stock Exchange Founded 1994
Tax Rate: Corporate 35%
Tax Rate: Individual 37.5%
Natural Resources copper, cobalt, zinc, lead, coal, emeralds, gold, silver, uranium, hydropower

Latest available information as sourced from:

African Markets

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Economy Watch

The World Fact Book

KPMG Tax Tables

Company Profile

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Sector Research

CompanyName Stock Exchange Listed Date Ticker Code Country Status
AEL Zambia PLC Lusaka Stock Exchange 2006-09-00 AELZ Zambia Active
Airtel Networks Zambia Plc Lusaka Stock Exchange 2008-06-11 ATEL Zambia Active
British American Tobacco (Zambia) PLC Lusaka Stock Exchange 1995-12-15 BATZ Zambia Active
Cavmont Capital Holdings Zambia PLC Lusaka Stock Exchange 2006-09-13 CCHZ Zambia Active
CEC Africa Investments Ltd Lusaka Stock Exchange 2016-00-00 CECA Zambia Active
Copperbelt Energy Corporation PLC Lusaka Stock Exchange 2008-01-21 CEC Zambia Active
First Quantum Minerals Ltd Lusaka Stock Exchange 2011-07-00 FQMZ Zambia Active
Investrust Bank PLC Lusaka Stock Exchange 2007-06-18 INVESTRUST Zambia Active
Lafarge Zambia PLC Lusaka Stock Exchange 1995-05-22 LAFA Zambia Active
Madison Financial Services PLC Lusaka Stock Exchange 2014-09-01 MAFS Zambia Active
Metal Fabricators of Zambia PLC Lusaka Stock Exchange 2004-09-08 ZAMEFA Zambia Active
National Breweries PLC Lusaka Stock Exchange 1994-00-00 NATBREW Zambia Active
Pamodzi Hotels PLC Lusaka Stock Exchange 2001-12-24 PAMODZI Zambia Active
Prima Reinsurance PLC Lusaka Stock Exchange 2013-08-30 PRIMA-RE Zambia Active
Puma Energy Zambia PLC Lusaka Stock Exchange PUMA Zambia Active
Real Estate Investments Zambia PLC Lusaka Stock Exchange 1996-08-28 FRHS Zambia Active
Standard Chartered Bank Zambia PLC Lusaka Stock Exchange 1998-11-30 SCZ Zambia Active
Zambeef Products PLC Lusaka Stock Exchange 2005-04-05 ZBEEF Zambia Active
Zambia Bata Shoe Company PLC Lusaka Stock Exchange 2009-03-31 BATA Zambia Active
Zambia National Commercial Bank PLC Lusaka Stock Exchange 2008-11-27 ZNC Zambia Active
Zambia Sugar PLC Lusaka Stock Exchange 1996-09-27 ZMSG Zambia Active
Zambian Breweries PLC Lusaka Stock Exchange 1997-06-09 ZMBR Zambia Active
ZCCM Investments Holdings PLC Lusaka Stock Exchange 2000-01-12 ZCCM Zambia Active

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