Zambia Votes as Hichilema Seeks Second Term
The Spin
Pro-government narrative
Hichilema pulled Zambia back from sovereign default, cut inflation from over 24% to 6.5% and drew billions into mining, delivering a major economic turnaround and restoring investor confidence after years of crisis. Arrests, tear gas and restrictions on journalists and NGOs remain serious concerns, but should not overshadow his government's strong record of restoring stability, attracting investment and putting Zambia back on a more sustainable economic path.
Government-critical narrative
Zambia sits on massive copper wealth while more than 70% of its people survive on less than $3 a day, exposing the government’s failure to turn mineral riches and economic growth into broad prosperity. Investors and capital markets are benefiting while ordinary miners and citizens see too little of the gains. A government that celebrates rising investment while allowing foreign interests to capture much of the value from Zambia's resources deserves far greater scrutiny.
Narrative C
Zambia's vast copper reserves have put it at the center of growing U.S.-China competition over critical minerals. China is deeply embedded in its mining sector, while Washington is seeking greater access and alternative supply chains. The rivalry is turning Zambia into an increasingly important geopolitical battleground, with both powers competing for investment opportunities, infrastructure links, strategic partnerships and influence over future mineral supplies.
