Copper Boosts Zambia’s Stock Market to Global Top Performers
Zambia’s Lusaka Securities Exchange Among World’s Best-Performing Markets on Copper Rally
Thanks to soaring copper prices, Zambia now boasts one of the world’s best-performing stock markets, highlighting the nation’s growing prominence in global financial circles.
The Lusaka Securities Exchange (LSE) benchmark index has risen approximately 17% in U.S. dollar terms in 2026, trailing only Bulgaria among global stock markets. Other markets posting double-digit gains include Colombia, South Korea, and Turkey, while Nigeria recorded an 8% increase.
The rally reflects Zambia’s primary export commodity, copper, which has surged to consecutive record prices of $13,000 per tonne. Improved domestic energy supply and a rebound in agricultural output following recent droughts have further supported investor confidence.
Zambia’s economic growth is expected to rise to 6.4% in 2026, up from 5.8% in 2025, supported by robust copper earnings and stronger macroeconomic fundamentals.
“The bourse is increasingly serving as a barometer of Zambia’s economic trajectory, signaling resilience,” said Mutisunge Zulu, Chief Risk Officer at Zambia National Commercial Bank Plc.
“The index now tells a coherent story of mining–energy interdependence, balance-sheet strengthening, and improving investor confidence.”
Growth on the index has been driven primarily by Zambia Sugar Plc, Pamodzi Hotels Plc, and Standard Chartered Bank Zambia, reflecting broader economic diversification.
The Zambian Kwacha has strengthened, gaining nearly 12% against the U.S. dollar, making it one of the world’s best-performing currencies. Rising assets and growing investor interest in African markets are prompting a broader reevaluation of the region’s investment potential.
This is not the first time Zambia’s market has outperformed globally. In 2025, the LSE All Share Index climbed 14.3%, fueled by the copper boom.
Copperbelt Energy Corp. Plc, which supplies electricity to mines across the Copperbelt region, led the surge, with its stock rising over 75% and becoming the first Zambian firm valued above $1 billion. The company also reported a 42% increase in first-half earnings per share, reflecting strong operational performance.
With sustained copper strength and improving macroeconomic fundamentals, Zambia’s stock market continues to signal a resilient and attractive investment destination for regional and global investors.
