The Zambian government has reaffirmed its strong support for African Development Bank (AfDB) President Ould Tah’s vision of a new African financial architecture aimed at advancing the continent’s sovereignty, integration, industrialisation and human capital development. President Hakainde Hichilema expressed this support during a meeting with Tah at State House in Lusaka on 9 October 2025, following Zambia’s successful hosting of the third meeting for the 17th replenishment cycle of the African Development Fund (ADF-17).
The discussions underscored the deepening partnership between the AfDB and Zambia, as well as the country’s growing leadership in Africa’s drive for economic transformation and financial independence. Tah thanked Hichilema and the Zambian people for hosting the ADF-17 replenishment meeting, describing it as a key milestone in mobilising concessional resources for Africa’s most vulnerable nations. He also commended Zambia for pledging $5 million towards ADF-17, adding that Zambia’s leadership and generosity exemplify the resilience and inclusion the fund seeks to foster across the continent.
Hichilema noted the need for Africa to reduce reliance on external financing and tackle structural barriers that inflate borrowing costs. He noted that global credit ratings often undervalue African economies, keeping the cost of capital unnecessarily high. As one of the African Union’s Champions of Global Financial Architecture Reform, Hichilema welcomed Tah’s efforts to strengthen coherence among Africa’s financial institutions and to boost domestic resource mobilisation through blended finance solutions.
The two leaders also reviewed progress under Mission 300, a joint AfDB–World Bank initiative targeting electricity access for 300 million more Africans by 2030.
Zambia was among the first countries to sign a Mission 300 National Energy Compact, aiming for universal electricity access by 2030 and a 33% share of non-hydro renewables, while mobilising $11.9 billion in investment, 82% from the private sector. Hichilema reaffirmed Zambia’s commitment to expanding the compact model into manufacturing and regional value chains, describing energy access as the “lifeblood of industrialisation.” Both leaders agreed on the strategic importance of developing transport and trade corridors as anchors of Africa’s industrial and economic growth. Tah reaffirmed the AfDB’s commitment to supporting Zambia’s infrastructure ambitions, saying, “By working together, we can turn transport corridors into corridors of prosperity.”
He commended Zambia’s progress in restoring macroeconomic stability and investor confidence, with GDP growth projected at 6.2% in 2025, driven by energy, agriculture and record copper production. He said Zambia’s reform momentum and improved debt sustainability have positioned the country as a model of fiscal discipline and resilience. The AfDB Group continues to support Zambia’s structural transformation through its 2024–2029 Country Strategy Paper, which prioritises energy, agriculture, transport, skills and private-sector development.
Cumulative ADF support to Zambia now exceeds $900 million, financing major projects such as the Kazungula Bridge, Nacala Road Corridor, Livestock Infrastructure Project and the Science and Technology Education Project, which has strengthened STEM capacity across the country. The meeting concluded with a shared commitment to deepen collaboration between Zambia and the AfDB Group in advancing Africa’s collective goal of self-reliance and inclusive growth.
