Investing In... 2026

ZAMBIA Law and Practice Contributed by:

Dem. Rep. of Congo

Tanzania

Angola

Malawi

Zambia Lusaka

Mozambique

Zimbabwe

Joseph Jalasi, Mailesi Undi, Chama Simbeye and Wana Chinyemba Dentons Eric Silwamba, Jalasi & Linyama Legal Practitioners

Contents 1. Legal System and Regulatory Framework p.749 1.1 Legal System p.749 1.2 Regulatory Framework for FDI p.749 2. Recent Developments and Market Trends p.750 2.1 Current Economic, Political and Business Climate p.750 3. Mergers and Acquisitions p.751 3.1 Transaction Structures p.751 3.2 Regulation of Domestic M&A Transactions p.751 4. Corporate Governance and Disclosure/Reporting p.752 4.1 Corporate Governance Framework p.752 4.2 Relationship Between Companies and Minority Investors p.752 4.3 Disclosure and Reporting Obligations p.752 5. Capital Markets p.752 5.1 Capital Markets Overview p.752 5.2 Securities Regulation p.753 5.3 Investment Funds p.753 6. Antitrust/Competition p.753 6.1 Applicable Regulator and Process Overview p.753 6.2 Criteria for Antitrust/Competition Review p.754 6.3 Remedies and Commitments p.754 6.4 Antitrust/Competition Enforcement p.754

7. Foreign Investment/National Security p.754 7.1 Applicable Regulator and Process Overview p.754 7.2 Criteria for National Security Review p.754 7.3 Remedies and Commitments p.754 7.4 National Security Review Enforcement p.754 8. Other Review/Approvals p.754 8.1 Other Regimes p.754 9. Tax p.755 9.1 Taxation of Business Activities p.755 9.2 Withholding Taxes on Dividends, Interest, Etc p.755 9.3 Tax Mitigation Strategies p.755 9.4 Tax on Sale or Other Dispositions of FDI p.756 9.5 Anti-Evasion Regimes p.756 10. Employment and Labour p.757 10.1 Employment and Labour Framework p.757

10.2 Employee Compensation p.757 10.3 Employment Protection p.757

11. Intellectual Property and Data Protection p.757 11.1 Intellectual Property Considerations for Approval of FDI p.757 11.2 Intellectual Property Protections p.757 11.3 Data Protection and Privacy Considerations p.758

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