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Republic of Zambia

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About the Republic of Zambia

With a population of around 12 million inhabitants, Zambia is a landlocked country in the southern of Africa bordering Zimbabwe, Angola, DR Congo, Malawi, Mozambique, Tanzania and Namibia.

The performance of the Zambian economy has improved markedly over recent years, reflecting sound macro-economic policies and a favourable external environment, the average annual real GDP growth rate is 4.9 per cent over the past 7 years, in contrast with the early period of reform in 1991-1998 when GDP growth averaged 0.1 percent annually. For the first time in more than 20 years, Real GDP growth reached 6.3% in 2007 and is expected to be slightly higher this year. Average growth over the past 5 years was 5.7%, aided by the fast pace in construction, telecommunications and tourism.

Mining is the country's biggest export earner, but it contributes a relatively small amount to overall GDP, at less than 10% of real GDP. However, many other sectors of the economy are geared toward serving the mining sector. For example, much of the largest segment of GDP by factor cost, namely services, is related to the mining sector. In addition, the mining industry is an important consumer of local manufactured goods.

The combination of privatisation and surging international prices has provided a dramatic boost to copper mining in Zambia over the past few years. In real terms, the mining sector grew by almost 50% between 2001 and 2005.

Annual copper production in Zambia is expected to reach 600,000 tonnes during the next two to three years, a level last reached in the 1980s. Copper and cobalt account for 90% of mining production and around 65% of exports, with the mines concentrated in the Copper belt region bordering the mineral rich Katanga province in the Democratic Republic of Congo (DRC).

Zambia is among the most liberal banking regulations in Southern Africa, Zambian banks function efficiently. There are over ten operational commercial banks, including majority-foreign-owned banks such as Barclays of the UK, Citibank of the US, Stanbic (part of Standard Bank of South Africa) and Standard Chartered (also UK-based).

Zambia top income tax rate and the top corporate tax rate are both 35 percent. Other taxes include a value-added tax (VAT) and a property transfer tax. In the most recent year, overall tax revenue as a percentage of GDP was 16.1 percent. Tax collection has improved.

Coordinating Ministries

Hon. Minister
Ministry of Commerce, Trade & Industry
P O Box 31968
Lusaka
Zambia
Tel: 228301/5
Fax: 226727/226673/221475


Chamber of Commerce and Industry

Zambia Association of Chambers of Commerce and Industry
Showgrounds, Great East Road
P.O. Box 30844
Lusaka
Tel: (2601) 252369
Fax: (2601) 252483
Tlx: ZA 40124
E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it


Manufacturing Association


Zambia Development Agency

Zambia Development Agency
Privatization House
Nasser Road
P. O. Box 30819,
Lusaka, Zambia
Telephone: +260-211-222858 / 220177
Fax: +260-211-225270
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it


Investment Centre


Travel/Tourism

Local News

Zambia The Zambian News

Zambia Daily Mail

Zambia ilyashi.com News

Zambia Monitor News

Zambia The Post News

Zambia Zambezi Times News

Zambia Times News

Zambia Watchdog News

Zambia Irin News

Zambia Allafrica News

 

Contact us

COMESA Secretariat
COMESA Centre
Ben Bella Road

P. O. Box 30051

Lusaka - ZAMBIA
Tel: +260 211 229725/32
Fax: +260 211 225107

Email:
webmaster@comesa.int
Website:
www.comesa.int

COMESA INSTITUTIONS

African Trade Insurance Agency
COMESA Clearing House
COMESA Court of Justice
FEMCOM
Leather and Leather Products Institute
PTA Bank
PTA Re-Insurance Company
Regional Investment Agency