Minister of Finance and National Planning Situmbeko Musokotwane told attendees that Zambia’s future prosperity hinges on businesses investing and exporting more, rather than on state expenditure. According to the Lusaka Times, the minister argued that public funds alone cannot achieve the nation’s development targets. He emphasized that the state’s primary duty is to craft conditions allowing firms to grow and reach global buyers. The minister described the strategy as focused on exports, noting that repairing railways would help move goods to foreign markets. He added that the government is partnering with the World Bank to boost the forestry sector, aiming to plant trees on one million hectares of land.
The Lusaka Times reported that Musokotwane expressed confidence that regulatory changes and export-driven activity would fulfill the goals set for the 2027 Budget. He noted that altering rules would enable the private sector to generate significant momentum, a point he made during a symposium on the 2027 National Budget at the Mulungushi International Conference Centre. The minister suggested that the real driver of expansion would come from these policy shifts, allowing businesses to take the lead in economic activity.
In parallel, the Bank of Zambia announced it will activate two new laws governing financial services and payments by late 2026. Governor Denny Kalyala said these steps aim to tighten oversight and shield customers. The central bank is also rolling out a national Quick Response code system to speed up digital transactions. Stanbic Bank Zambia’s chief executive officer noted that the Bankers Association of Zambia backs the government’s push to digitize identity records, which will help banks verify clients more easily.
Other agencies flagged specific hurdles for the upcoming fiscal plan. The Zambia Revenue Authority’s top official Dingani Banda pointed to issues like smuggling and profit shifting as key drains on tax intake. The Zambia Association of Manufacturers warned that a planned fee on plastic containers might raise mineral water costs by roughly a quarter, hurting local producers. Meanwhile, the Civil Society for Poverty Reduction urged the state to beef up drought defenses in the budget, citing risks from the El Niño weather pattern to food security. The Zambia National Farmers Union also voiced worry that higher charges on mobile money could slow the adoption of digital payments.