Zambia’s most valuable resource has positioned the nation prominently within global financial circles, owing to unprecedented increases in the price of copper.
Reports indicate that the Southern African country now possesses one of the two best-performing stock markets currently, as projections show that this could lead to better economic results in the current fiscal year.
As seen on Bloomberg, Lusaka Securities Exchange’s benchmark index is up about 17% in dollar terms this year, edged out by only Bulgaria among the 92 stock markets.
Colombia, South Korea, and Turkey are the only other markets that have posted double-digit increases in 2026, with Nigeria coming in second with an 8% rally.
While domestic energy supply has improved and farm output has recovered following a severe drought a couple of years back, prices for its primary export, copper, have risen to consecutive record highs of $13,000 per ton.
As per the International Monetary Fund, this should increase economic growth to 6.4% this year from an expected 5.8% in 2025.
“The bourse is increasingly serving as a barometer of Zambia’s economic trajectory signaling resilience,” said Mutisunge Zulu, chief risk officer at the Zambia National Commercial Bank Plc, the nation’s largest lender by market value.
“The index now tells a coherent story of mining–energy interdependence, balance-sheet strengthening, and improving investor confidence.”
Growth on the index was primarily driven by Zambia Sugar Plc, Pamodzi Hotels Plc, and Standard Chartered’s Zambia division.
Furthermore, since the start of the year, the country’s currency, the Zambian Kwacha, has gained nearly 12% against the dollar, making it the best-performing currency in the world among those monitored by Bloomberg.
As assets climb and investors look for diversification outside of larger markets, Zambia’s stock boom is adding to a wider reevaluation of African assets.
This is hardly the first time Zambia’s stock market has recorded such an impressive performance.
Zambia’s consistently impressive stock market performance
At the time, similar to current trends, Copperbelt Energy Corp. Plc, which provides electricity to mines in Africa’s second-largest copper producer, spearheaded the surge.
In 2025, Copperbelt Energy Corp. Plc’s stock increased by over 75%, making it the first Zambian firm valued at more than $1 billion.
The Copperbelt Energy Corp. revealed that it was expecting a 42% increase in 2025’s first-half earnings per share.
