AFRICA MUST DESIGN ITS OWN IMF PROGRAMMES – HICHILEMA

President Hakainde Hichilema says Africa must take ownership of its engagement with the International Monetary Fund by designing programmes that reflect its own development priorities. President Hichilema said IMF-supported programmes should be constructed by African countries themselves, stressing that Zambia’s current IMF programme is a Zambian programme aligned to national goals.

‎Speaking during his keynote address at the 2026 Investing in African Mining Indaba in Cape Town, President Hichilema said Zambia’s economic reforms are deliberate, disciplined and anchored on stability, with positive results already being realised. He noted that the impact of the reforms is increasingly evident and acknowledged even by the opposition, demonstrating growing confidence in the country’s economic direction.

‎The President cited the revival of Konkola Copper Mines, which was under liquidation before the UPND administration took office and is now operational, as evidence of progress in the mining sector. He said government is raising capital to expand Zambia’s mineral resources, with a long-term target of three million tonnes of copper production and a production target of one million tonnes this year. President Hichilema added that although Zambia’s debt restructuring process took longer than expected, the country is now on a recovery path, projecting economic growth of more than six percent this year.