By Cecilia Chiliuba/Zambia/Lusaka
Zambia’s President Hakainde Hichilema has urged Africa to move beyond the exportation of raw materials toward value addition and industrialization to ensure local populations fully benefit from the continent’s natural wealth.
The President emphasized the need for continental collaboration and the development of regional value chains to transform Africa from a resource-rich continent into a global economic leader.
Delivering a keynote address at the 2026 Investing in African Mining Indaba in Cape Town, held under the theme; “Stronger Together: Progress Through Partnerships,” President Hichilema stressed that mining must go beyond profit-making and deliver tangible social benefits, including job creation, value addition, and the funding of public services such as free education.
“This forum truly symbolizes Africa’s shared aspiration for prosperity and transformative partnerships. We just have to look at that carefully and we will see the window of opportunity that is there on our continent with regards to mining metals,” he said.
“Yes, we have individual national interest, it is only logical but it is a building block. So for us to be more successful, we have to collaborate. We have to work together. I am convinced about that.”
He noted that the theme of this year’s Indaba reflects Africa’s reality that meaningful progress can only be achieved through strong partnerships.
“We all have capabilities, we all have endowments, we all have skills, experiences, but they are not enough to deliver a total package for all our people, our economies, and our continent, which is said to be the least developed, yet, is the most endowed. That is a paradox we have to solve and I think we can do it together,” he added.
Reflecting on his first address to the forum in 2022, the President highlighted the dramatic results of Zambia’s disciplined reforms.
He said since taking office, the country has transitioned from a declining economy growing at minus 2.8% GDP to a projected 6.4% growth this year, while inflation has been successfully driven down from over 22% to single-digit figures.
“Investor confidence in Zambia has translated into over US$12 billion in new capital since 2022. Key projects driving this surge include First Quantum Minerals’ US$1.25 billion investment in the Kansanshi S3 expansion, Barrick Lumana,with a US$2 billion “super pit” expansion and KoBold Metals with a US$2 billion discovery described as a huge greenfield project,” President Hichilema added.
President Hichilema revealed that Zambia is expected to reach the psychological milestone of one million tonnes of copper production this year for the first time in the country’s history.
He further highlighted Zambia’s macroeconomic turnaround, noting that the country has moved from a declining economy with minus 2.8 percent GDP growth to a projected 6.4 percent growth this year, while inflation has been reduced from over 22 percent to single-digit levels.
The Zambian leader stressed that to further de-risk the sector, the government is completing the first high-resolution geophysical survey in 50 years, with 55% of the country already mapped to redefine mineral maps for future exploration.
“Mining is about empowerment, equity, and shared prosperity. Zambia remains open for business with no exchange controls. We do not support expropriation of investments. If there’s an issue, we dialogue rather than expropriation, which costs the business a lot, cost the economy a lot, including jobs,” he stressed.
