Republic of Zambia

Zambia Economic Outlook

Real GDP recovered to 4.6% growth in 2021 and 3.0% in 2022 after contracting 2.8% in 2020. The recovery was driven mainly by wholesale and retail trade, agriculture, and mining and quarrying. Inflation dropped from 22.1% in 2021 to 10.1% in 2022, driven mainly by the reduced food price shocks. The policy rate was maintained at 9.0% in 2021 and 2022, owing to inflationary pressures, weaker medium-term growth prospects, and vulnerabilities and risks to the financial sector.

Key Facts

Flag:

Capital:

Lusaka

Population 2023:

20 millions

Date of membership:

1 September 1966

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Bank intervention strategy

Priority area 1 - Support to infrastructure development, focusing on support to water and sanitation, energy, and transport.
Priority area 2 - Support to private sector development, focusing on enterprise development and agriculture.

GAFSP, Enhancing food security and nutrition in Zambia

The One-Stop Border Post between Zambia and Malawi enhances trade and the life of the local community

Zambia and Malawi - The One-Stop Border Post enhances trade and the life of the local community (ENG ST)

Zambia National Broadcasting Corporation report: New industrial yards to provide Zambian youth and women

African Development Bank-funded entrepreneurship industrial yard in Zambia

IN REVIEW: The African Development Bank’s participation in the 36th AU Summit

News and Events

African Development Bank sets out two priority areas for the CSP 2024-2029 for Zambia: boosting private sector development through infrastructure investments and developing the country’s agricultural value chain.

30-Apr-2024