President Hakainde Hichilema is hoping to agree an International Monetary Fund (IMF) package to stabilise foreign exchange reserves and enhance Zambia&rsquo;s credibility as it seeks to renegotiate with lenders.

Hopes for IMF package

Increase international reserves to create a buffer to cushion the economy against external shocks

President Hakainde Hichilema commissioned the rehabilitation of the 35 Kilometer Chingola-Kasumbalesa road on the Copperbelt Province, with the President stating that the rehabilitation of the road will open up the country&rsquo;s economic growth as it will ease the movement of traffic to the Democratic Republic of Congo (DRC) turning Zambia feeding into the goal of making Zambia a regional hub for road transport

Chingola Kasumbalesa Road Commissioned by President Hichilema

Transform Zambia into a regional hub for road, rail and air logistics

Hakainde Hichilema has commissioned a 60 megawatt Copperbelt Energy Corporation &ndash;CEC- Itimpi Solar Plant built at a cost of over US$53m, a huge milestone in the country's agenda of &nbsp;achieving diversification in the energy sector.

US$53m CEC Itimpi Solar Plant Commissioned

Diversify the geography of large-scale electricity generation sources

The Hakainde Hichilema &nbsp;administration has launched the arbitration center to act as an institution which will provide speedy resolution of commercial disputes outside the courts of law. This will work to cultivate goodwill among players as this will help solve conflicts outside of the legal system reducing grudges and bad blood between government and businesses as a result of legal action. Also this will also reduce time taken to solve disputes and allow for faster negotiations thus making the environment perfect for business for both government and private players.

Lusaka International Arbitration Center launched

Improve the business environment and reduce the cost of doing business for the private sector

Zambia Air-force &nbsp;procured various agricultural equipment for the defence wing to help promote agricultural growth in this dry season amplifying the government stance on promoting use of mechanisation to in agriculture to help growth and productivity in the sector. The purchase of the farming equipment reflects ZAF's commitment to ensuring the well being of every Zambian and is a solution to the urgent problem of hunger.&nbsp;

ZAF buys agricultural equipment

Promote appropriate mechanisation of agriculture  to enhance growth and productivity

The Government has launched the National Arts and Film Policies aimed at strengthening Arts education, skills training and financing. The policy will help build an economically viable sector that will contribute to the country&rsquo;s Gross Domestic Product.

Government Launches Arts and film policy

Ensure various arts disciplines are engaged for job creation and support business opportunities

Cabinet has given the go-ahead for the Lands Tribunal Amendment Bill of 2024 to be introduced in parliament in order to provide for the establishment of a principal registry, regional registry; and the appointment of an Assistant Registrar. Previously there was only one office in Lusaka making it more accessible and convenient for registry

Lands tribunal to be decentralized

Review the laws governing land, and the way land is allocated to Zambians and non-Zambians

Agriculture Minister says loans worth over 117-million Kwacha, have been approved under the Strategic Agriculture Finance Facility to farmers to improve their farming activities

Loans worth over K117m approved under SAFF

Improve access to capital for the modernisation of agriculture

350 farmers benefited from agricultural loans under the credit window in Chipata District facilitated by the Government through banks to increase funding channeled into the agriculture sector to improve output

350 Chipata farmers get loans under credit window

Increase funding and personnel for agricultural extension services

The Mining Licensing Committee issued mining licenses to locals to practice their trade with &nbsp;letters of offer having been issued to the Cooperatives and the mining Cadastre will soon go round to authenticate that the people who have been given the rights are resident in the places where they applied

118 Artisanal mining rights issued to Cooperatives

Establish a policy and plan to facilitate local ownership and participation in mining

Zambia and Malawi have agreed to open up the MWAMI &ndash; MCHINJI Border post in Eastern Province to enhance trade between the two countries

Zambia, Malawi to open Mwami-Mchinji border

Harmonise the trade policy with the industrial, commercial, immigration and foreign policies

Cabinet approved a statutory instrument to allow TurboKachin Consortium Limited, the concessionaire on the Chingola-Kasumbalesa road. the company will operate and collect toll fees at Konkola Toll Plaza in Chililabombwe. Cabinet resolved that the company collects tolls for the road which was built by the firm under the Public Private Partnership-PPP.

Cabinet approves several Bills

Promote PPPs and FDI in the transportation sector

Promote the establishment of permanent agro dealer networks

The government of Zambia has began distributing farming inputs to farmers in the central province for the 2023-2024 farming season, with Central province minister P. Kasune flagging off the distribution

Central province farmers start redeeming inputs

Provide targeted farm input packages to vulnerable groups of small-scale farmers

President Hichilema has initiated a state visit to China in an effort to further strengthen economic diplomacy and boost cooperation.

Zambian State visit to China to boost cooperation

Improve economic and fiscal governance through the strengthening of regulations

The Zambian government and Huawei signed a Memorandum of Understanding (MoU) which seeks to promote the country&rsquo;s digital transformation agenda.The signed MoU is aimed at realizing a digitalized future for Zambia by improving Information Communication Technology (ICT) infrastructure, promoting the adoption of renewable energy, supporting innovation, and expanding access to reliable and affordable digital services across the country.

Zambia and Huawei signed MoU in digital transformation.

Promote the digital economy and advance knowledge and skills

The government through the National Pension Scheme Authority (NAPSA) disbursed K8.7 billion to more than four hundred thousand beneficiaries as part of the pre-retirement lump-sum benefit program.

NAPSA disbursed K8.7 billion to more than four hundred thousand beneficiaries.

Increase budgetary allocations to social protection, including addressing the plight of pensioners

Government secures 15-Billion US Dollars from China for the setting up of a Copper Smelting Plant in Kabompo district of Northwestern Province.

Government secures 15-Billion US Dollars for the setting up of a Copper Smelting Plant in Kabompo. district

Modernise, integrate and commercialise the airports and maximise the return investments from aviation

Tourism Retention Fees Abolished

Develop pricing mechanisms that favour Zambians and off-season marketing

Southern Province has received the entire 27,506-metric tonnes allocation of D compound Fertilizer for the 2023 &ndash; 2024 farming season.

SP Gets D-Compound Fertilizer

Establish agro-input manufacturing industries in partnership with the private sector to produce seed, fertilizer, and tools

Lufwanyama Solar milling plant revamped through CDF grant

Lufwanyama Solar milling plant revamped through CDF grant

Promote small and medium scale agro- based and non-agricultural industries

The government completed the conversion of the TAZAMA Pipeline from transporting crude oil to transporting low Sulphur diesel.

AZAMA Pipeline Ready To Transport Low Sulphur Diesel

Restructure the fuel supply model to ensure fuel security and remove middle men

Zambia and the United Arab Emirates (UAE) have signed a Memorandum of Understanding (MoU) and Joint Development Agreement (JDA) to facilitate massive investment&nbsp;

Zambia and UAE Sign Landmark Agreement for $2 Billion Renewable Energy Investment

Implement a Renewable Energy Investment Plan to improve the energy mix

President Hakainde Hichilema has signed into law the National Pension Scheme Amendment Bill 2023 which allows for the partial withdrawal of pensions. The new law, which fulfils one of the major campaign promises of United Party for National Development (UPND), has been met with a lot of excitement by workers. It will give citizens the opportunity to reinvest the funds into various ventures and assets of their choice. As a result, more jobs will be created, contributing to our economic development agenda.&rdquo;

National Pension Scheme Amendment Bill signed into law

Broaden the formal employment base to ensure workers are protected by the law and have access to pension and health systems

Government has found money through Disaster Management and Mitigation Unit to fix sewer lines in Kitwe&rsquo;s Kwacha Constituency and in Kabushi Constituency of Ndola District.

Government found funds to fix sewer lines

Develop and rehabilitate communal infrastructure

The Kariba Dam Rehabilitation Project, funded by the African Development Bank, the European Union with counterpart funding by Zambia and Zimbabwe, which has two work components &ndash; the plunge pool reshaping, and the spillway refurbishment is now at 74 percent completion with a disbursement ratio of 75 percent.

Kariba Dam rehab now at 74 percent completion.

Accelerate the integration of transmission projects to improve access to regional power markets

Government issues stop order on the operations of illegal allocation of land through the Farmers Coordinating Committee the illegal allocation of land.

Stop order on the operations of illegal allocation of land

Correct the indiscriminate use of land and poor development practices by promoting orderly land management

The Ministry of Agriculture established a radio station, Lima Radio aimed at intensifying the dissemination of agricultural information.
&nbsp;

Lima Radio goes On Air.

Improve public information services on meteorological events and market information

GSB online payments extend to tourism sector services to promote easy access to services in the tourism sector, online payments under the Government Service Bus (GSB) have been launched to reduce human interaction. Some of the services that have been integrated into the GSB and Payment Gateway System include casino licence, park entry, concession fees, animal licence and hotel manager&rsquo;s registration fees.

Government Digital Payment System extended to the Tourism Sector.

Promote tourism diversification

President Hichilema and Malawian President, Chakwera launched the Mchinji- Mwami one-stop border post.

Mchinji- Mwami one-stop border post launched.

Bring advanced technology to border post management

The government shifted its tax collection model from the dividend to the royalty method at Kansanshi Mine on its shares held by ZCCM-IH.

First Quantum to pay ZCCM-IH in revenue royalty following Zambia tax change.

Undertake a major mining sector policy reform including tax policy and administration reform

The government has issued 41,000 land titles this year under the National Land Titling program.

The government of Zambia issues 41000 land titles.

Ensure a disciplined land market and effective, efficient land administration and management systems

The government secured US $300 million from the World Bank for the development of farming blocks to grow agricultural production.

US300 million secured for the development of farming blocks to grow agricultural prodcution

Implement programmes to improve youth and women's access to land

The government has embarked on a Comprehensive Agricultural Program to enhance production and processing in the agricultural sector and is in the process of enhancing agricultural diversity under the Farmer Input Support Program through the supply of different seed varieties to small-scale farmers.

Government embarks on Comprehensive Agricultural Program

Enhance agricultural diversification and mitigate natural shocks by growing drought-resistant crops

The government has given 90 days of amnesty to small-scale and artisanal mines to formalise and legalise their operations by obtaining mining licenses

mall, artisanal mines given 90 days Amnesty to formalize their operations.

Enhance mining output monitoring and oversight mechanisms and technologies

Zambia's Minister of Finance and National Planning unveiling an exemption from withholding tax interest income earned on green bonds with a maturity of at least 3 years to encourage investment in projects with environmental benefits.

Zambia Ministry of Finance adopts new fiscal benefits for green bonds.

Improve regulatory frameworks and remove administrative barriers to business entry and operations

The government in partnership with the UN Capital Development Fund launched the Zambia Inclusive Digital Economy Status Report 2022.

Government launched the Zambia Inclusive Digital Economy Status Report 2022.

Invest in research to develop new technologies relevant to development

Minister of Energy Permanent Secretary reimposed tax on fuel starting 30 September 2022.z

Government of Zambia re-imposes tax on Fuel starting 30 September 2022

Strengthen tax policy and administration to broaden the tax base

The Citizens Economic Empowerment Commission unveiled Seven Empowerment programmes to the tune of 365 million Kwacha targeted at Citizens, Small and Medium Enterprises as well as corporate enterprises.

The Citizens Economic Empowerment Commission unveils K365m Empowerment Funds.

Promote MSME development at the community level

"The Ministry of Tourism launched the Tourism Information Centre at Samfya Beach in Luapula province at a total cost of over K3 million under the Tourism Development Fund.
&nbsp;

Tourism Information Centre launched at Samfya beach.

Improve data collection of tourism-related statistics

&nbsp;President launched the Public Private Dialogue Forum (PDPF) aimed at promoting economic growth and development.

President Hichilema launched the  PUBLIC PRIVATE DIALOGUE FORUM.

Ensure consultative PSD reform process with local partners from both the public and private sectors

Zambia has reduced the cost of tourist visas by 50% as of 1 January 2022.

Zambia reduces the cost of Tourist visas by half.

Create a robust tourism marketing strategy

K43 Million Kwacha was disbursed by the Ministry of Local Government and Rural Development to facilitate the construction of Crossing-Points and Road improvement works."

Ministry of Loc K43 Million disbursed to Accelerate Rural Development Projects.

Ensure higher prioritisation of public investments in rural transportation networks, systems and infrastructure services

The Ministry of Fisheries and Livestock collaborated with the &nbsp;Financial Sector Deepening &nbsp;Zambia, and Mayfair Insurance among others."

The Inclusive Livestock Insurance Project launched.

Partner with the private sector to ease access to and ensure availability of low-cost finance to farmers

President Hakainde Hichilema has signed into law new legislation (Bank of Zambia (BOZ) Act No. 5 of 2022) to tackle with unfair dismissal of Governors and their deputies.&nbsp;

President Hichilema signed into law new legislation (Bank of Zambia (BOZ) Act No. 5 of 2022).

Create an enabling environment supported by strong regulation for development of the financial sector and a digital economy

The local government in partnership with &nbsp;USAID, Absa Bank Zambia, and the U.S. International Development Finance Corporation launched a loan guarantee program for SMEs.

Minister of Finance and National Planning launches the loan guarantee program for SME's

Provide financing, establish industrial parks and reserve government contracts for MSME manufacturing firms

Technology and Science Minister launched the 800MHZ and 2,600MHZ bands radio spectrum auction by ZICTA

800MHZ and 2,600MHZ bands radio spectrum launched.

Apply science and technology to all aspects of government

Technology and Science Minister Felix Mutati signed a Statutory Instrument - Information and Communication Technologies (Fees Amendment Regulations) 2022

Minister of Technology and Science signed a Statutory Instrument

Support better management and investment in Science and Technology Institutions

Government increases the number of Beneficiaries on the Food Security Pack &ndash;(FSP) For The 2021/22 Farming Season.

The number of Beneficiaries on the Food Security Pack increased.

Increase youth and women's access to farm inputs and agricultural technology

President Hichilema commissioned the K130 million Kalene Hills Fruit Factory.

President Hichilema commissioned the K130 million Kalene Hills Fruit Factory .

Strengthen the agro-value chains

Streamline tax incentives and maximise in-country capital retention

Enact strong investment banking regulations

The Presidential Arts Development and Empowerment Scheme under the Government of Zambia released K30 million for 152 beneficiaries

The Presidential Arts Development and Empowerment Scheme under the Government of Zambia released K30 million for 152 beneficiaries.

Actualize the abundant job, innovation and business opportunities in the arts sector

Establish policies and regulatory frameworks around energy supplies and property rights

Zambia and DRC sign trade agreement. The Cooperation Agreement is expected to provide a framework for bilateral cooperation on the initiative to develop the battery value chain as well as strengthen collaboration between Zambia and DRC.&nbsp;

Zambia and DRC sign a Cooperation Agreement.

Develop national export trade strategies as central to national development and mainstream trade policy

Modernise and strengthen capacities of our key revenue administration institutions

Address the proliferation of regulatory and licensing fees that increase compliance costs and corruption

Broaden the tax base

The government has amended the Income Tax Act, Chapter 323 of the Laws of Zambia (the Income Tax Act) - to amongst other things increase the PayAsYou Earn tax free threshold for individuals to fifty-four thousand Kwacha per annum;

Income Tax Act amended

Remove several regressive tax elements that favour high-income taxpayers at the expense of low-income households

Target revenue mobilisation efforts towards consumption taxes and property taxes

Develop revenue mobilisation systems both at sub-national and national government level

Put in place export financing support instruments to support Zambian businesses

Undertake awareness campaigns on market access initiatives and quality standards

Establish an independent office of the Auditor of Public Procurement

Ensure contracts management is supported by adequate monitoring and training

Zambia Public Procurement Authority orders the use of e-GP System for all procurement

Use of e-CP System ordered for all procurement

Publish on an e-platform the contract awards notices, bid details and selection rationale

Introduce legislation that widens the scope, and lowers the cost of financial services

Strengthen the linkages between budget execution and procurement

Enforce the legal framework against fraud and corruption, enhance transparency and improve competition

Establish a robust and independent complaints review mechanism

Strengthen public investment management, project selection and financing

Create an autonomous national debt management office

Government affirms that domestic debt increased from K53.3 billion in January 2019 to K198 billion at the end of 2021; government&rsquo;s foreign debt as of September 2021 now stands at $12.99 billion.

Government affirms domestic debt increase

Ensure transparency and accountability in procurement and reporting of public debt

Tighten the oversight role of parliament in debt contraction

Streamline the reporting of public debt and ensure full disclosure

Enact legislation aimed at improving the corporate governance environment in the country

Introduce targeted policy incentives to attract large capital inflows

Ensure fiscal discipline and minimise government borrowing in the local market

Amend existing laws relating to illicit financial flows

Ensure policy linkages with education to build a skilled labour market

&nbsp;President Hakainde Hichilema restore the autonomy of the Central Bank.

The autonomy of the Central Bank restored.

Strengthen the capacity and autonomy of the central bank (Bank of Zambia)

The Government is &nbsp;providing tax incentives to increase private sector investment through the establishment of four Multi-facility Economic Zones (MFEZs)&nbsp;

Tax incentives to increase private sector investment

Create an enabling macroeconomic environment, strengthen the public agencies that support private sector development and enhance public-private dialogue

Consult with all key stakeholders in addressing the various challenges affecting the growth of the manufacturing industry

Reformulate and implement a well-balanced MSME development policy

Strengthen academic credentials for the hospitality industry

Strengthen partnerships with other countries to improve wildlife populations

Maintain museums and restore information on cultural and natural heritage

Tighten regulations for hunting, processing, sale, import and export of wild animals and trophies

Government consulting with chiefs and community resource boards on the amendment of the Wildlife Act of 2015&nbsp;

Promise

Promise History

Hopes for IMF package