Zambia

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The Republic of Zambia is a landlocked country in Southern Africa located in the south-central part of the Continent. The land size spreads across 752,618 square kilometers, and approximately 47,000 square kilometers of this is made up of lakes Bangweulu, Kariba, Mweru, and Tanganyika. The current population of Zambia is 19,003,464 with a GDP of 18.96 billion dollars. Zambia accommodates some of the most significant natural resources in the Southern African region. Zambia is also endowed with mineral wealth, including numerous precious and semi-precious stones. Mining activities are predominantly found on the Copperbelt and North-Western Provinces, although these minerals are dotted all over the country.

Quick Facts

Copper

Primary Mineral

3.6 million MT

Estimated Reserves

Undisclosed

Tax Benefits

> 5

Active resource businesses

Zambia has a wide range of natural resources, including copper, cobalt, silver, uranium, lead, coal, zinc, gold, and emerald. It is one of the leading producers of semi-precious gemstones and cobalt. The country is also recognized internationally as a significant producer of tourmaline, amethyst, and aquamarine. Copper contributes over 70 percent of the country’s foreign export earnings.  Zambia produces about 20 percent of the world’s emeralds. According to the latest World Bank annual ratings, Zambia is ranked 85 among 190 economies in the ease of doing business. The rank of Zambia improved to 85 in 2019 from 87 in 2018

The economy of Zambia fell into a deep recession due to the adverse impact of the COVID–19 pandemic. Real GDP contracted by an estimated 4.9% in 2020, after growing by 4.0% in 2018 and 1.9% in 2019. The economy is projected to grow by 1.0% in 2021 and 2.0% in 2022, underpinned by a recovery in the mining, tourism and manufacturing sectors. The recovery in international demand and copper prices are positive developments, while a reduction in COVID–19 cases will boost activity both in manufacturing and tourism.

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