President Hakainde Hichilema says the focus of his second term will be to translate the macroeconomic stability achieved over the past five years into tangible benefits for citizens. President Hichilema has set ambitious economic growth targets for Zambia, which include…

President Hakainde Hichilema says the focus of his second term will be to translate the macroeconomic stability achieved over the past five years into tangible benefits for citizens.

President Hichilema has set ambitious economic growth targets for Zambia, which include increasing annual copper production to three million tonnes, attracting five million international tourist arrivals and expanding electricity generation capacity to 10,000 megawatts over the next five years.

He noted that the targets form part of the Grow Zambia Agenda, which seeks to more than double the size of the economy, create jobs and expand business opportunities for citizens.

Addressing Parliament today during the official opening of the First Session of the 14th National Assembly in Lusaka, under the theme: “Grow Zambia: An Agenda for Inclusive Growth and Opportunity for Every Zambian, President Hichilema said government will prioritise mining, tourism, manufacturing, energy and transport infrastructure to accelerate economic transformation.

“Over the next five years, our Grow Zambia Agenda will focus on the following priority areas, growing the economy, connecting the nation, improving living standards, building an effective, efficient and delivery-oriented public sector and financing our future,” said Mr Hichilema.

President Hichilema said annual inflation had declined from above 24 percent in August 2021 to 6.1 percent in September 2026, bringing it within the Bank of Zambia’s target range of six to eight percent, adding that the Kwacha has also strengthened against major convertible currencies, while international reserves had risen to their highest levels ever.

On mining, President Hichilema said the sector was experiencing renewed investment, with activity increasing in both existing and new mining projects.

He cited developments at Konkola Copper Mines, Mopani, Shaft 28 and Kalengwa mines, alongside projects at Mingomba and Kitumba mines, as well as the Kansanshi S3 and Lumwana Super Pit expansions.

President Hichilema said the government will continue to facilitate investment, promote mineral value addition and streamline licensing processes to increase production and create employment, particularly for young people.

“All mining in Zambia must be legal, formal, commercially viable, safe, and must never threaten the peace and security of our nation,” he added.

He further said the national geological mapping programme was nearing completion to facilitate further mineral exploration.

On tourism, President Hichilema said the government intends to transform the sector into a multibillion-dollar industry by doubling annual tourist arrivals from the current 2.5 million to five million.

“We will intensify and increase the branding and marketing of Zambia as a destination of choice,” he added.

He said the government will improve tourism infrastructure and international air connectivity as well as position the country as a regional aviation hub, further saying government will also strengthen community participation in tourism and conservation to ensure local communities directly benefited from the sector.

On manufacturing and industrialisation, President Hichilema said the government will promote local production, expand export markets and reduce the cost of doing business to improve the competitiveness of Zambian industries.

“The “Proudly Zambian Campaign” is building national awareness to shift consumer and institutional purchasing towards locally manufactured goods and services,” he added.

President Hichilema noted that government will also deepen economic partnerships to expand access to regional and international markets through frameworks such as the African Continental Free Trade Area (AfCFTA), COMESA and SADC, adding that the ultimate goal is to transform Zambia into a competitive, diversified and export-oriented economy.

On connecting the nation, President Hichilema said the government will expand electricity generation capacity to 10,000 megawatts and upgrade the national transmission network to improve reliability and regional connectivity.

He said private-sector participation will be critical to meeting the country’s energy needs and creating jobs as well as business opportunities.

He charged that the government will also accelerate the construction, rehabilitation and maintenance of roads, upgrade airports and develop strategic transport corridors to position Zambia as a regional transport and logistics hub.

He identified the Durban, Walvis Bay-Ndola-Lubumbashi, Lobito, TAZARA and Nacala corridors as key to improving connectivity and facilitating trade.

He said the government will further digitise border processes, eliminate unnecessary administrative barriers and work towards seamless, non-stop borders to improve the movement of goods and people.

On financing the country’s development agenda, President Hichilema explained that the government will broaden the use of innovative financing instruments, including public-private partnerships, joint ventures, bonds, strategic equity partnerships and capital-market instruments.

He also urged Members of Parliament to support the 2027 National Budget, as it will outline specific measures for financing national development priorities, further saying the success of the Grow Zambia Agenda will require collective action by government, the private sector, civil society, traditional and religious leaders as well as citizens.

He said economic stability must translate into improved living standards, decent jobs and greater opportunities for Zambians.

The President has since called for unity, discipline, innovation and hard work in pursuing the country’s development aspirations.