ZAMBIA Trends and Developments Contributed by: Harriet Mdala, Maloba Nalomba, Chilufya Lwando Sinkala and Hlezipe Alexis Halwiindi, MAY & Company
Despite this, hydropower still accounts for the major - ity of generation, and rainfall variability continues to affect supply. As a result, Zambia has relied on power imports from regional markets, and load management has persisted. The Integrated Resource Plan projects significant capacity expansion requirements, including 1,500 MW of solar and a planned 300 MW expansion at Maamba. The Open Access Regulations (SI No 40 of 2024) allow eligible users, including mining compa - nies, to procure electricity through ZESCO’s network, though long-term stability will depend on sustained private investment. According to the Budget Bulletin, limited fiscal space means the government expects the private sector to drive much of the required devel - opment in generation and transmission infrastructure. Environmental matters remain relevant to industry discussions, particularly following the 2025 tailings incident that affected more than 5,000 people. The incident underscored the importance of infrastructure management and operational oversight. As the Min - erals Regulation Commission begins to take shape, the sector will monitor how environmental and safety responsibilities are integrated into the new regulatory framework.
Overall, 2026 is expected to be a period in which recent reforms begin to stabilise. The geological sur - vey is progressing, the Minerals Regulation Commis - sion is advancing toward full functionality and the new local content regime comes into effect. The practical impact of these developments will depend on how they are implemented across the sector. Energy con - straints and broader market conditions remain key considerations. Nonetheless, the policy direction suggests continued efforts towards regulatory clarity, transparent licensing processes and increased local participation. Industry participants and investors are likely to follow developments closely as the reforms continue to take shape through 2026.
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