President Highlights Investment Reforms and Mining Revival at ZIMEC 2026
Zambia Strengthening Investment Climate Through Reforms and Regional Cooperation, Delegates Told
President Hakainde Hichilema last week addressed delegates at the Zambia International Mining and Energy Conference (ZIMEC), underscoring the country’s improving investment climate, the revival of dormant mining assets, and the growing role of both local and regional investment in driving economic growth.
Speaking to industry leaders, investors, and policymakers, the President pointed to the reopening of the historic Kalengwa Mine in North-Western Province as a clear example of the government’s reform agenda and commitment to revitalizing Zambia’s mining sector.
The mine, which had been out of operation for approximately 47 years, has recently returned to production following policy adjustments and efforts to restore operational viability in legacy mining assets.
He described the reopening as evidence of the “heavy lifting” undertaken by government to create a stable and predictable environment for mining investment, noting that previously idle resources can once again contribute to employment, revenue generation, and national economic output.
A central theme of the President’s address was Zambia’s long-standing policy of maintaining an open financial system without exchange controls.
He emphasized that the country has operated without such restrictions for more than three decades, enabling investors to move capital and dividends freely across borders.
According to the President, this policy distinguishes Zambia from many jurisdictions on the African continent and remains a critical factor considered by investors when assessing risk and selecting investment destinations.
“We do not have exchange controls, and we have not had them for over 30 years,” he told delegates, adding that the government continues to strengthen the regulatory and administrative environment to make investment processes more efficient, transparent, and predictable.
He reassured investors that there are no legal barriers preventing companies from repatriating profits to shareholders abroad, while encouraging reinvestment within the country to support long-term economic expansion, industrial growth, and job creation.
The President also called for stronger regional collaboration in infrastructure development, particularly in energy systems and cross-border connectivity.
He noted that neighboring countries share common economic opportunities and challenges, and that joint investment in strategic infrastructure could accelerate development across the region.
In addition to attracting foreign direct investment, he stressed the importance of mobilizing domestic capital. He urged financial institutions and local investors to expand lending and investment support for productive sectors such as mining, energy, and manufacturing, arguing that sustainable economic growth begins with strong local participation.
The President further highlighted the need for improved operational efficiency across key institutions, warning that delays in financing, licensing, and service delivery can slow economic progress if not addressed decisively.
Industry stakeholders attending the conference observed that the President’s remarks focused on creating what he described as a “happy convergence” of critical variables stable policy, accessible financing, and reliable infrastructure necessary to position Zambia as a competitive and attractive destination for mining and energy investment.
