Zambia’s ongoing mining sector reforms are beginning to yield visible economic benefits, including a stronger Kwacha and renewed investor optimism, according to the Advocates for National Development and Democracy (ANDD).
ANDD Executive Director Samuel Banda pointed to the recent appreciation of the Kwacha—now trading at around 26.7 per US dollar—as partly driven by a rebound in copper production. He credited improvements in the mining industry, particularly at Konkola Copper Mines (KCM), as key contributors to the positive trend.
Banda commended Vedanta Resources, the majority shareholder in KCM, for its renewed commitment to Zambia. The company has pledged to settle legacy debts and outstanding payments owed to local suppliers, while also outlining a plan to scale up copper production to 300,000 metric tons per year.
“These developments are critical to stabilizing the economy and restoring investor confidence,” Banda said. “We encourage all mining stakeholders—especially suppliers and contractors—to maintain professionalism and high standards as the sector recovers.”
Governance analyst Wesley Miyanda echoed the remarks, praising President Hakainde Hichilema’s administration for implementing reforms that aim to ensure broader benefits from mining for Zambian citizens. He cited favorable tax measures and efforts to link ordinary Zambians to investment opportunities as steps in the right direction.
The mining sector is a cornerstone of Zambia’s economy, and the recent reforms and investor commitments are widely seen as pivotal to long-term growth and macroeconomic stability.
