The year 2024 has been a defining chapter in Zambia’s economic journey, marked by unprecedented challenges and remarkable resilience. This report, titled “Drought, Depreciation, and Determination: Zambia’s Economic Journey Through 2024,” offers an in-depth exploration of the macroeconomic, financial, and sectoral dynamics that shaped the year.

From the severe drought that strained agricultural productivity and energy supply to the inflationary pressures stemming from currency depreciation, the challenges faced were formidable. Yet, amidst these trials, Zambia demonstrated resilience and adaptability. Key sectors like mining, financial markets, and real estate provided a counterbalance to economic headwinds, highlighting the nation’s potential for recovery and growth.

This report delves into critical themes, including inflationary trends, government policy interventions, trade performance, and sectoral highlights such as agriculture, energy, and real estate. It also examines the resilience of Zambia’s financial markets, with the Lusaka Securities Exchange achieving notable gains despite economic uncertainties.

As we turn the page to 2025, the lessons of 2024 underscore the importance of strategic investments, diversification, and policy reforms to ensure sustainable growth. This document serves not only as a reflection on the year past but as a roadmap for navigating the opportunities and challenges that lie ahead.

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