President Hakainde Hichilema has called on more businesses to reduce prices, saying Zambia’s improving economic fundamentals must translate into real, visible relief for consumers.
Speaking in Parliament during his address on the application of national values and principles, President Hichilema praised the Zambia Association of Manufacturers (ZAM) for adjusting prices downward in response to a stronger kwacha and improving economic stability.
“We commend the Zambia Association of Manufacturers for responding to the positive economic fundamentals by lowering prices, and we urge others to do the same,” he said.
The president, who is also a farmer and economist, noted that the kwacha is now among the best-performing currencies globally, inflation is cooling, and several key indicators are stabilising in Zambia’s favour.
However, he acknowledged that many citizens have not yet felt the full impact of these gains.
“The cost of living should be stabilised further,” he said, adding that the government will continue engaging the private sector to reduce the cost of doing business, which will, in turn, help stabilise commodity prices.
Mr. Hichilema also stressed that wage improvements will go hand in hand with efforts to reduce operating costs for companies - creating a balanced environment where both businesses and citizens can thrive.
“As such, notwithstanding the tremendous progress we have made together, we have more work to do,” he said.
He urged the nation to align economic progress with the country’s values and principles, driven by “love, deep care for our people, and the nation’s wellbeing.”
[Talking Business Magazine, 21st Feb. 2026].
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