#TheEditorZambia
The Kwacha has continued showing a significant strengthening trend against the US Dollar (USD), reaching a 27-month high of ZK20.82 per USD on January 6, 2026.
Today, the Kwacha is trading at K20.88 (buying) and K21.27 (selling) against the US dollar 
The Kwacha has appreciated significantly in recent months, making it one of Africa’s best-performing currencies in 2025, a trend attributed to improved economic indicators and market sentiment.
This strong currency is not by chance or artificial, but it is driven by improved global copper prices, disciplined fiscal policy, Bank of Zambia (BoZ) tight monetary measures, and an overall boost in investor confidence.
This is contrary to the previous regime that depleted the foreign reserves by splashing dollars on the market to push for an artificial currency stabilisation.
The Kwacha has further been strengthened by two significant sovereign credit rating upgrades in November 2025.
S&P upgraded Zambia from selective default to CCC plus, and Fitch upgraded Zambia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to B minus with a stable outlook.
These upgrades reflect clear progress in restructuring external debt and restoring fiscal discipline.
For the Kwacha, this translates into a lower perceived risk premium, renewed investor interest, and greater comfort among participants who had once kept cautious distance.
Financial analysts have predicted that the Kwacha will continue to improve owing to various factors such as favourable rainfall activities that will guarantee food security and power generation.
Other factors include strong mining earnings, strong service sectors as well as growth in the manufacturing industries.
Economist Dr. Lubinda Haabazoka has said that the Kwacha will continue to appreciate against the US dollar in 2026.
Dr. Haabazoka said the appreciation of the local currency will be supported by strong mining earnings, adequate energy supply, and good agricultural output.
Another analyst in his review says, “the picture is both striking and sensible. Mining receipts strengthened. Domestic settlements now anchor themselves in Kwacha.
IMF support has reinforced macroeconomic stability. Sovereign creditworthiness has also improved. Agriculture has contributed fresh inflows. And monetary policy has remained steady throughout.”
The future looks bright for Zambia.
However, the armchair critics of President Hakainde Hichilema will always shy away from appreciating these economic achievements but will instead engage in propaganda to continue critising the government.
Whenever there’s anything positive in the economy or about President Hakainde Hichilema’s bold policies, the opposition propaganda machinery cooks up something to divert public attention.
Sishuwa Sishuwa is among the usual critic who will ignore these positive fundamentals and instead post lies and propaganda on his page.
Going into this year’s elections, there is no opposition with a clear and credible message of their alternative policies to that of President Hakainde Hichilema.
Analysts agree with opposition DPP leader Antonio Mwanza’s sentiments that currently there was no electoral competitiveness in the opposition, which has the ability to present a credible alternative government.
