Zambia is set to inaugurate President Hakainde Hichilema on Tuesday, September 1, 2026, marking the beginning of his second five-year term in office.
The inauguration comes as the country reflects on Hichilema’s first term, which was marked by efforts to restructure Zambia’s debt, tackle high inflation, address energy shortages and restore investor confidence.
Director and Spokesperson of the Ministry of Information and Media, Henry Kapata, said the government had laid the foundation for a new phase of economic growth.
Speaking to the media, Kapata said inflation had dropped from 24.6 per cent in December 2021 to 6.2 per cent in August 2026, while the country’s international reserves had risen to about $6.5 billion.
He said the second term would be guided by the government’s 10-10-5-3-3-1-1 development framework, which sets ambitious production and export targets for the country.
Under the framework, Zambia aims to increase electricity generation capacity to 10,000 megawatts, produce 10 million tonnes of maize annually and attract five million international tourists each year.
The government also targets annual copper production of three million tonnes, alongside three million tonnes each of soybean and wheat production, as well as $1 billion in annual beef export revenue.
Kapata said the targets were designed to boost domestic production, attract investment, create jobs, expand exports and improve household incomes.
“As preparations continue ahead of Tuesday’s ceremony, we look at the journey so far, the economic foundation Zambia enters the second term with and what these targets mean for the country’s next five years,” he said.
“The mandate has been renewed. The targets are defined. The next chapter is delivery.”
(Lusaka Times)
