AGP Executive Report

Election Clock Ticks: President Hakainde Hichilema has filed his nomination papers for a second term, with Vice President Mutale Nalumango unveiled as running mate and ECZ declaring the ticket valid—setting the stage for August 13, 2026. Ballot Crunch: ECZ says only 14 presidential candidates are on the final ballot after nominations closed, while opposition filings continue to stir controversy. Opposition Blocked: Patriots for Economic Progress (PeP) claims its presidential ticket failed to file because its party records were allegedly altered at the Registrar of Societies, reclassifying it as a church organisation and changing key office-bearers. Parliament Watch: Majority Leader Mahama Ayariga says major reform bills are lined up for Parliament’s second meeting, including updates to petroleum, tribunals, anti-organised crime and public officers laws. Energy Investment: GreenCo lands US$10m from Sanlam Alternative Investments to expand regional renewable electricity trading. IMF Push: The IMF urges Africa to reset growth with governance and private-sector-led reforms as global uncertainty bites.

Election Countdown: President Hakainde Hichilema is set to file his UPND nomination today at 13:00 at Mulungushi International Conference Centre, as the ECZ nomination period runs 18–22 May and the August 13, 2026 poll draws closer. Mining Revival: Konkola Copper Mines has reopened Chingola B Mine after 18 years, targeting over 200,000 tonnes of ore per month and linking the restart to Zambia’s push toward 3 million tonnes of copper by 2031. Trade & Transport Push: Government says Mpulungu Port will be upgraded to boost cargo handling from 200,000 to about 800,000 tonnes annually, with a possible greenfield rail link to the TAZARA line. Consumer Safety: ZCSA has urged the public to buy only from trusted outlets and check labels, expiry dates and manufacturing details. Party Process Tension: PeP claims its presidential nomination was blocked after alleged unauthorized changes to its Registrar of Societies records. Regional Signals: Banks are pushing for lending revival as stability returns, while Gemfields’ latest emerald auction generated $26.8m.

AfCFTA Push: AfCFTA has named Rendeavour as its first implementation partner, betting on infrastructure-led industrialisation, special economic zones and trade corridors to lift intra-African trade beyond today’s low 14% share. Higher Education Expansion: Government says it will add 10,640 bed spaces at the University of Zambia through completed hostels and a PPP, as UNZA graduation continues under a “competence-driven future” theme. Mining & Currency: The Bank of Zambia links the kwacha’s near 15% Q1 gain to stronger mining foreign-exchange inflows, with mining tax remittances and sales boosting liquidity. Energy Deal: Zambia Development Agency and ZPEC sign an investment protection agreement for a $500m+ Ndola refinery, targeting thousands of jobs and completion by end-2028. Road Funding Shift (Region): Tanzania signals a bond-financing drive for major road upgrades, including key trunk corridors. Politics & Nominations: ECZ confirms two UNIP presidential nomination bids amid factional splits, while six presidential candidates have filed for August 13.

Ndola Refinery Jobs Push: Zambia Development Agency and ZPEC have signed a landmark Investment Promotion and Protection Agreement for a $500m-plus Ndola oil refinery, expected to create 3,500 jobs—2,200 during construction and 700-plus once operational—while supporting copper production targets. Kwacha Support from Mining: Bank of Zambia says the kwacha’s near 15% Q1 appreciation was driven by strong mining foreign-exchange inflows, with mining tax remittances and wider liquidity boosted by foreign financial institutions. Cross-Border Finance Moves: Ghana, Rwanda and Zambia are testing a unified digital trade corridor to speed up cross-border payments in local currencies, aiming to cut delays and costs. Regional Trade and Security: Botswana and Tanzania denied retaliatory border-closure claims tied to anti-migrant tensions in South Africa. Mining Growth Signals: Prospect Resources says Phase 3 drilling and an upgraded Mumbezhi resource estimate lift copper and expand gold and cobalt potential. Transport Updates: TAZARA will suspend Mukuba cross-border passenger train services for one week for maintenance. Business Watch: Dubai-based Averi Finance is in talks for a reverse takeover to list in Johannesburg.

Fuel Shock & Cost of Living: Volatile oil prices are pushing up transport, food and power costs across Africa, with Kenya reporting fuel-driven inflation pressure and public frustration rising. UPND Loyalty Debate: A party loyalist, Shamoba, says no one can erase Garry Nkombo’s role in building and defending UPND, warning against sidelining long-serving members. COMESA–EU Talks: COMESA and the EU met in Lusaka to deepen cooperation on regional integration, trade corridors, peace and sustainable development as global disruptions bite. Copper Demand Watch: Even after a sharp copper pullback, commentary from investors points to continued bullish demand from China’s next five-year push on electrical distribution networks. Election Nominations: Opposition nominations gather pace as Kalaba files and Mundubile and Makebi Zulu move forward on the August 13 poll. TAZARA Service Disruption: TAZARA will suspend the Mukuba cross-border passenger train for one week for maintenance, resuming operations on June 2. Zambia Food Security: Millers project a record maize harvest above 4.1 million tons, a potential relief for inflation—though it may strain government grain purchases. Anti-IFFs Tracker: Government pilots an anti-illicit financial flows policy tracker after reports of suspected IFFs worth over $5bn in 2023–2024.

Road Safety Push: Government has earmarked over Sh482 million for a new bridge in Mbeya’s accident-prone Mlima Nyoka bypass, aiming to ease movement of heavy vehicles and reduce crashes along the TANZAM route. Critical Minerals & Power: The EU says the scramble for lithium, cobalt and graphite is now really about power over extraction, refining and transport, warning that Europe risks being hostage to supply shocks. Corridor Competition: The Lobito Corridor is set to challenge Walvis Bay as faster, cheaper routes could shift cargo flows toward Lobito and Dar es Salaam. Home-Grown School Meals: Zambia and Madagascar are on a week-long study tour in Korea to strengthen school feeding and child nutrition, with local sourcing to support farmers. Elections & Opposition: ECZ has validated presidential nominations for Brian Mundubile/Makebi Zulu and Harry Kalaba/Moses Mawere, as international observers begin arriving ahead of August polls. Food Outlook: Zambia is projected to hit a record 4.1 million tons maize harvest, a potential relief for inflation—though budget pressure may rise from grain purchases.

Energy Diplomacy: Angola says it can prioritise crude oil supply to South Korea to ease shortages during the Middle East crisis, with talks aimed at longer-term energy cooperation. Retail Pressure: Famous Brands reports weaker SADC profits as consumer spending cools in markets like Botswana and Zambia. Opposition Politics: Tonse Alliance presidential candidate Brian Mundubile files under the NRPUP ticket after a late fallout with FDD, with Makebi Zulu appearing alongside him as the opposition regrouping shifts. Mining Moves: ZCCM-IH forms a gold joint venture in North Western’s Kikonge area to formalise artisanal mining and build local processing capacity, while Atomic Eagle expands uranium exploration in Zambia via the Sitwe project option. Digital Finance: PAYZ launches a Standard Mobile Money Agent Training Manual to professionalise agents and strengthen consumer protection. Health Delivery: Government commissions a refurbished stroke unit at UTH and launches a client feedback initiative to improve service accountability. Election Watch: ECZ disqualifies Charles Chanda’s presidential bid over bankruptcy and documentation issues, putting nomination scrutiny under the spotlight.

Election Watch: International observers have started jetting into Zambia ahead of the August 2026 general elections, with ECZ saying a SADC Electoral Commissions Forum mission will monitor key activities including the nomination process. Presidential Nominations: Harry Kalaba has successfully filed his presidential papers with running mate Moses Mawere, while ECZ has rejected UPPZ leader Charles Chanda’s bid over an alleged undischarged bankruptcy and issues with his adoption documentation—turning nominations into the first big institutional flashpoint of the election season. Governance & Health: Government commissioned a refurbished stroke unit at UTH and launched a client feedback initiative, as PAYZ rolled out a Standard Mobile Money Agent Training Manual to professionalise agents and strengthen consumer protection. Mining & Investment: ZCCM-IH formed a gold joint venture to formalise artisanal mining in Kikonge, and Atomic Eagle secured an option to acquire the Sitwe uranium project, expanding Zambia’s uranium footprint. Economy & Markets: LuSE held steady despite April dips, while EAZ expects the Kwacha to stay relatively stable into the polls.

Uranium Push: Atomic Eagle has secured an option to buy the Sitwe Uranium Project in Zambia’s Luangwa Valley, adding about 38% to its Zambian tenements and positioning it alongside its Muntanga project—an aggressive bet on the region’s uranium basin. VFEX Listing Debate: Zimbabwe’s big consumer firms Varun Beverages and Trade Kings are staying off the Victoria Falls Stock Exchange, with the real issue pointing to the exchange’s thin foreign participation and limited traded value—another reminder that liquidity is what attracts capital. Election Pressure on Media: Zambia’s media freedom groups warn that, even with improvements since 2021, campaign season could still squeeze independent reporting through political and financial pressure. BoZ Payments Overhaul: The Bank of Zambia says cheques will end in June 2026 (final deposit day June 24), while also flagging fraud and cyber risks as mobile money grows. Presidential Nominations Start: ECZ opens the presidential nomination process at Mulungushi as Zambia enters full August election mode. Health-For-Minerals Row: Zambia blasts the US over a $2bn health deal tied to access to mineral assets and sensitive data-sharing demands.

Election Watch: Zambia’s media freedom is under fresh scrutiny as presidential nominations open today, with opposition and rights groups warning that unequal access to state media and financial pressure on outlets could skew coverage during a highly contested campaign. ECZ Process: The Electoral Commission says nominations run for five days at Mulungushi International Conference Centre, with accreditation for parties, observers and media already underway. Opposition Claims: ECZ has moved to calm rumours that Brian Mundubile and Makebi Zulu could be blocked from the ballot, insisting both are fully accommodated in the nomination schedule. Policy & Payments: Bank of Zambia says cheques will end in June 2026 (final deposit day June 24) as it pushes digital payments, while the Monetary Policy Rate is cut to 13.25%. Debt Deal: Zambia and Israel sign an amendment to restructure about US$460m of debt to 2043, aiming to ease debt-service pressure and restore fiscal space. Business: NMBZ reports Q1 income up 59% after consolidating EFC Zambia, while ZHL’s insurance revenue rises 28% on regional expansion.

Mining on the frontburner: Zambia’s election season is sharpening focus on the mining sector, with investors watching whether the August 13 vote will keep the push for modernisation—especially as uranium and copper projects line up, including Atomic Eagle’s Muntanga plans and fresh momentum around Dumbwa copper drilling. Politics and rights: Parliament’s dissolution has kicked the country into full campaign mode, but the debate is getting hotter—checks and balances are being questioned after an opposition leader’s ballot access was tied to police custody, while a proposed Public Gatherings Bill amendment would raise the minimum for regulated political gatherings from 3 to 7. Macroeconomic stability: The IMF says Zambia has made “substantial progress” on inflation, fiscal performance and reserves, even as challenges remain. Trade and infrastructure: East Africa is being positioned as the new trade engine, with Tanzania’s port and rail build-out and regional connectivity expanding. Business pipeline: Zambia Sugar’s $76m Twazabuka project is on track for commissioning in August 2027.

Election Season Politics: Zambia’s Parliament has dissolved with just 90 days to August 13 polls, and the opposition is pushing harder on unity—People’s Party has officially joined the Tonse Pamodzi Alliance while Makebi Zulu urges rivals to drop solo bids and back one front. Campaign Noise vs Delivery: Commentary is calling out a “still no coherent message” phase, with voters increasingly judging outcomes like fuel and food costs rather than promises. Macroeconomic Credibility: The IMF says Zambia has made substantial progress on stability after a Lusaka mission—inflation back in the 6–8% band and reserves rising—giving government fresh talking points ahead of elections. Business & Industry: Zambia Sugar’s $76m Twazabuka warehousing and packaging project is set for commissioning in August 2027, promising longer supply cover and 150+ jobs. Health: A new Commonwealth compendium highlights cervical cancer elimination efforts, focusing on vaccination, screening and treatment as budgets tighten.

Elections & Unity Push: Vice President Mutale Nalumango urged traditional leaders to use the Lwanza platform to promote love, unity and national identity, warning that election competition must not fuel violence or hate speech. IMF Watch: The IMF says Zambia has made “substantial progress” restoring macroeconomic stability after a Lusaka mission—bringing inflation to 6.8% in April and lifting gross reserves to US$6.4bn—while talks on a new support programme are set to resume after August elections. Mining & Jobs: Zambia Sugar’s US$76m Twazabuka project is on track for completion and commissioning in August 2027, with a modern warehousing and packaging facility expected to create 150+ jobs. Regional Trade Moves: Russia’s FESCO says it has completed its first direct container shipment to Dar es Salaam via Nhava Sheva, aiming to deepen trade links across Africa. Sports Politics: Former Chipolopolo winger Clifford Mulenga opposed FAZ plans to expand the Super League from 18 to 20 teams, arguing it could stretch already struggling clubs.

IMF Update: The IMF says Zambia has made “substantial progress” restoring macroeconomic stability after a two-week mission—bringing inflation back to the 6–8% target band (6.8% in April) and lifting gross reserves to about US$6.4bn, while debt restructuring now covers roughly 94% of the perimeter. Debt Deal: Zambia also signed a US$460m debt restructuring agreement with Israel, extending obligations to 2043 to ease debt-service pressure and create fiscal space. Mining & Industry: Zambia Sugar’s US$76m Twazabuka project is on track for completion and commissioning in August 2027, with plans for 150+ jobs and improved storage and supply coverage. Energy & Climate: At a Nairobi parliamentary forum, Zambia highlighted its solar-by-constituency model—community-owned 2MW plants in every constituency—as a practical answer to energy poverty while pursuing climate goals. Sports Governance: Former Chipolopolo winger Cliford Mulenga opposes FAZ’s move to expand the Super League from 18 to 20 teams, warning it could strain clubs and weaken competition. Regional Trade: Russia’s FESCO says it has completed a new direct container corridor to Dar es Salaam, linking Russian exporters to African markets via a route through Nhava Sheva.

Tech & Industry: Zimbabwe has unveiled its first locally manufactured laptop, the Avantis Parote 1030i, a push meant to cut reliance on imports and speed up digital transformation and jobs. Zambia–IMF & Debt: In Lusaka, the IMF says talks on a new Zambia programme are progressing and should resume after August elections, while Zambia and Israel signed a US$460m debt restructuring deal to ease service pressure and create fiscal space. Energy & Food Security: At the Africa Forward Summit in Nairobi, clean energy and infrastructure commitments were announced, but the wider region still faces fuel and fertilizer shocks tied to the Iran conflict and shipping disruptions. Mining & Trade: Zambia’s Chamber of Mines praised Mopani and KCM for strong mine-rescue results, and Zambia began easing sulphuric acid export curbs to the DRC as Copperbelt supplies improve. Elections & Governance: Home Affairs Minister Jack Mwiimbu urged professionalism ahead of polls, while election-related mobilisation stories and public comment on trade rules kept the political and policy spotlight on.

Zambia Election Mode: Parliament has dissolved, kicking off a 90-day countdown to the August 13 general election, with nominations for parliamentary and local seats set for May 18–19 and President Hakainde Hichilema urging ECZ and parties to keep the race peaceful and credible. Monetary Policy & Currency: The Bank of Zambia cut the Monetary Policy Rate to 13.25% as the kwacha strengthened and reserves hit record levels, feeding into easing inflation. Mining & Jobs: Government says Q1 2026 mining performance improved, with copper output up at major mines and emerald production surging, boosting investor confidence. Trade & Standards: Zambia signed deals to tighten export certification and quantify trade through digital supply-chain finance. Digital Health Push: The tech ministry says digital links are now helping remote clinics and health workers save lives. Regional Energy Pressure: South Africa’s electricity export revenue estimate and the wider fuel-price shock across the region keep costs in focus. Copperbelt Watch: Koryx Copper issued a correction on Haib drill results, clarifying timing for its next assessment.