Zambia Manufacturing: Challenges, Wins & Future Growth

As we close out 2025, Financial Insight Zambia’s Mwelwa Kenneth Chibesakunda sits down with Zambia Association of Manufacturers (ZAM) President, Ashu Sagar, for an in-depth conversation on the state of the country’s manufacturing sector. From mid-year tax shocks to a persistent energy deficit, Sagar reflects on the major policy and macroeconomic forces that shaped the year — and how the industry demonstrated resilience despite unprecedented pressures. He highlights transformative investments across key subsectors, including the groundbreaking strides by United Capital Fertilizer, Trade Kings, and expanding pharmaceutical operations. These projects, he notes, not only signal Zambia’s growing industrial maturity but also underscore manufacturing’s vital role as a sustainable job creator and a multiplier for GDP growth. Yet, he warns that without clearer, stable tax policy and urgent energy reforms, the sector risks being held back from reaching its true potential. As Sagar prepares to hand over the reins after four years at the helm of ZAM, he reflects on governance reforms, strengthened engagement with government, and the importance of choosing future leaders who prioritize industry needs over personalities. His message is clear: Zambia’s manufacturing future hinges on bold policy alignment, energy security, and leadership committed to driving long-term industrial growth. #EconomicPolicy #Financialinsight #Get2Know