Cyclone Gezani to cause thunderstorms and lightning effects in Zambia.
Monetary Policy Easing: A Turning Point for Zambia’s Recovery? By Prof. Lubinda Haabazoka
BoZ cuts policy rate to 13.5% as inflation continues to ease
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ZAMBIANS have been advised to avoid outdoor activities and watch out for thunderstorms, lightning ignited by effects of Cyclone Gezani from Mozambique.
In an update on Cyclone Gezani, the Ministry of Green Economy and Environment, through Zambia Meteorological Department(ZMD), says it is closely monitoring the progression of Tropical Cyclone Gezani that made landfall over the east coast of Madagascar on Tuesday 10th February, 2025.
“The cyclone was Intense at the time it made landfall over Madagascar with maximum average wind speeds of 148 km/h and a central minimum sea-level pressure estimated around 975hpa.
“Currently, the storm is Severe with sustained winds of 130Km/h, pressure level 985Hpa and projected to be in the Mozambique channel by tomorrow Thursday 12th February, 2026,” the brief reads in part.
Its interaction with the Inter Tropical Convergence Zone (ITCZ) is expected to further enhance rainfall activities across Zambia.
ZMD warns that the impacts of the storm include widespread Rainfall with periodical Heavy falls: Significant rainfall amounts may lead to flooding, especially in low-lying areas and along river banks;
Enhanced soil moisture: Likely to result in water logging and flooding;
Thunderstorms and Lightning: Increased thunderstorm activity may occur, posing risks of lightning strikes.
“Strong Winds: Occurrence of gusty winds could cause damage to infrastructure and vegetation”.
Citizens are warned to prepare for potential flooding and avoid low-lying areas: Stay away from areas prone to flooding and avoid crossing flooded points, roads and bridges during or after heavy rainfall;
“Be cautious during thunderstorms: Avoid outdoor activities during thunderstorms and seek shelter indoors;
“Secure Loose Objects: Tie down loose outdoor items to prevent damage from strong winds”. The brief reads.
The Zambia Meteorological Department, in the Ministry of Green Economy and Environment, will continue to monitor the situation and provide updates as needed, alongside the Disaster Management and Mitigation Unit.
(Mwebantu, Thursday, 12th Februray, 2026)
Monetary Policy Easing: A Turning Point for Zambia’s Recovery? By Prof. Lubinda Haabazoka
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The Monetary Policy Rate (MPR) is one of the most powerful tools available to a central bank. It is the benchmark interest rate set by the Bank of Zambia at which commercial banks borrow short-term funds. When the rate rises, borrowing becomes more expensive across the economy. When it falls, the cost of credit declines, stimulating borrowing, investment and consumption.
In its latest Monetary Policy Committee (MPC) decision, the Bank of Zambia reduced the Policy Rate by 75 basis points to 13.5 percent, citing the sharp decline in inflation and improved inflation outlook
This decision signals confidence that inflation is easing sustainably and that the economy can accommodate a more supportive monetary stance.
But what does this mean for households, businesses and the economy at large? And where is Zambia coming from?
Zambia’s Macroeconomic Journey Since 2020
To appreciate the significance of this policy shift, we must reflect on the past five years.
In 2020, Zambia became the first African country during the COVID-19 era to default on its external debt. Fiscal pressures mounted, external reserves declined, investor confidence weakened, and the kwacha depreciated sharply.
Between 2020 and 2022, inflation remained elevated, driven by:
Tight monetary policy became necessary to anchor inflation expectations.
Under the IMF-supported programme, Zambia implemented fiscal consolidation and began debt restructuring. Over time:
According to the MPC Statement (February 2026), inflation declined from 12.3 percent in September 2025 to 11.2 percent in December 2025, before falling sharply to 9.4 percent in January 2026
The Bank projects inflation to fall into the 6–8 percent target band by the second quarter of 2026, averaging 6.9 percent in 2026 and easing further to 6.3 percent in 2027
It is within this improved macroeconomic environment that the reduction in the Monetary Policy Rate must be understood.
Implications for Households
For ordinary Zambians, interest rates matter in practical ways:
If commercial banks transmit the rate cut effectively, households could see increased disposable income and improved financial flexibility.
However, if credit standards remain tight, the impact may be gradual.
Implications for Businesses
For businesses, particularly SMEs:
Lower rates can improve profitability margins and stimulate private-sector growth. Capital-intensive sectors such as manufacturing, agriculture and construction stand to benefit significantly.
Three Macroeconomic Scenarios
The ultimate impact depends on how conditions evolve over the next 12–24 months. Three scenarios are plausible:
Scenario 1: The Optimistic Case – Growth Acceleration
In this scenario:
This would represent a virtuous cycle of macroeconomic recovery, strengthening household incomes and business confidence.
Scenario 2: The Base Case – Moderate Expansion
Here:
Households benefit modestly, and businesses expand cautiously. The recovery continues, but without dramatic acceleration.
Scenario 3: The Downside Case – Inflation Re-emergence
In this scenario:
In such a case, short-term relief from lower interest rates could give way to renewed macroeconomic instability.
Broader Economic Implications
The reduction in the Policy Rate is not simply about cheaper loans. It signals that Zambia’s macroeconomic stabilisation strategy is yielding results.
It reflects:
However, monetary policy alone cannot drive long-term transformation. Structural reforms, fiscal discipline, diversification and productivity growth remain essential. That is why we have continuously commended the government on its fiscal discipline. Fiscal discipline is the father of public financial management success!
The reduction of the Monetary Policy Rate to 13.5 percent represents a calculated move toward supporting economic recovery while maintaining inflation discipline.
For households, it offers relief and opportunity.
For businesses, it lowers the cost of capital and encourages expansion.
For the economy, it marks a transition from stabilisation toward growth.
The key question now is not whether the rate cut was justified. The key question is whether Zambia can leverage this window of monetary easing to accelerate inclusive growth, strengthen productive sectors, and build resilience against future shocks.
If managed prudently, this could mark the beginning of Zambia’s next phase of sustainable economic expansion.
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FOLLOWING a sharp decline in inflation, the Bank of Zambia (BoZ) Monetary Policy Committee has reduced the Policy Rate by 75 basis points to 13.5 percent.
BoZ Governor Dr Denny Kalyalya said the decision was informed by the further decline in inflation in the fourth quarter of 2025, the projected faster fall of inflation into the 6–8 percent target band than was forecast in November 2025, and the need to maintain an appropriate monetary policy stance.
He said inflation continued to decelerate in the fourth quarter of 2025, with overall inflation declining to 11.2 percent in December 2025 from 12.3 percent in September 2025.
Dr Kalyalya said inflation fell sharply to 9.4 percent in January 2026, largely driven by the continued impact of the maize bumper harvest from the 2024/2025 farming season and the appreciation of the Kwacha against major currencies.
He disclosed that current projections indicate inflation will fall into the 6–8 percent target band at a faster pace than was forecast in November 2025.
“Further, it is expected to be within the band by the second quarter of 2026 and move to the lower bound by the second quarter of 2027,” Dr Kalyalya said.
He said, on average, inflation is forecast to be 6.9 percent in 2026, compared to 7.6 percent projected in November 2025.
The Central Bank Governor further said inflation is expected to ease to 6.3 percent in 2027.
He said the more positive outlook largely reflects the lagged effects of the recent appreciation of the exchange rate and expected favourable agricultural output.
“The risks to the inflation outlook remain tilted to the downside. These include favourable weather conditions, supportive external sector conditions reflected in higher copper prices, and continued macroeconomic stability,” Dr Kalyalya said.
(Mwebantu, Wednesday, 11th Februray, 2026)
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LOCAL Authority Public Relations Officers (LAPRO) have awarded Permanent Secretary Gabriel Pollen, Nicholas Phiri and former Ministry of Local Government Permanent Secretary Maambo Hamaundu in recognition of their outstanding contribution to uplifting and professionalising the role of public relations officers within local authorities.
In a statement issued by the public relations practitioners, the three Permanent Secretaries, working collaboratively with other key partners, were presented with Excellence Awards for their unwavering support and recognition of the critical role public relations professionals play in councils across the country.
The practitioners said the leadership of the three public servants has significantly enhanced the visibility, credibility and effectiveness of public relations functions within the local government system.
They said that over the years, the support has translated into improved institutional communication structures, greater inclusion of public relations officers in decision-making processes and increased appreciation of strategic communication as a tool for service delivery.
The Local Authority Public Relations Officers further extended their appreciation to President Hakainde Hichilema for demonstrating positive political will towards the growth and professional recognition of public relations within councils.
“This commitment has created an enabling environment for effective communication at local government level,” they said.
Gratitude was also extended to the Ministry of Local Government and Rural Development (MLGRD), the Local Government Service Commission, past and present Ministers of Local Government and Rural Development, the Presidential Delivery Unit and all cooperating partners whose collective support continues to strengthen communication, transparency and public engagement in local authorities.
The Local Authority Public Relations Officers’ representatives, including Christine Kabaso, Tasila Banda, Rabecca Mushibi, Canicius Mushibwe, Kamona Lindunda, Veronica Sampa, Nakubiana Shabong and Mushota Mpundu, reaffirmed their commitment to upholding professional standards, ethical communication and proactive public engagement in support of national development and effective local governance.
(Mwebantu, Tuesday, 10th Februray, 2026)
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Cyclone Gezani to cause thunderstorms and lightning effects in Zambia.
