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Government has intensified efforts to grow Zambia’s manufacturing sector through targeted investor incentives and policy measures, including Statutory Instrument No. 45 of 2025, which prioritises local procurement, Commerce, Trade and Industry Minister Chipoka Mulenga has said.
Mulenga said improving macroeconomic conditions—marked by declining inflation and a stable exchange rate—were beginning to deliver tangible benefits to both businesses and consumers.
“What an exciting time for Zambia. With inflation now at 10.5 percent, closer to single digits, and a stable exchange rate, it is clear that Government efforts are paying off,” Mulenga said in a statement issued on Thursday.
He was commenting on ZAMBEEF’s decision to reduce prices on selected products, which the company attributed to exchange rate stability, lower inflation, easing commodity prices, stable fuel costs and improved power supply.
Mulenga commended the company for passing on economic gains to consumers, describing the move as a strong example of how public-private collaboration can drive inclusive growth.
“Today’s announcement shows what can be achieved when Government and the private sector work together,” Mulenga said, urging other firms to follow suit as Zambia positions itself for a more prosperous 2026.
Meanwhile, Ministry of Commerce, Trade and Industry Permanent Secretary for Commerce and Trade, Lillian Bwalya, said increased collaboration between Government and the private sector was yielding positive results, with rising investment in the manufacturing sector.
She reaffirmed Government’s commitment to improving the business environment and promoting value addition as key drivers of economic growth and national development.
Announcing the price reductions, ZAMBEEF Chief Executive Officer, Faith Mukutu, said the move was aimed at passing on economic benefits to consumers in line with the company’s strategy of market growth and cost optimisation.
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