Government has strengthened its use of the local financial market to finance national development, with Treasury Bills and Government Bonds continuing to attract strong investor support.
According to the Ministry of Finance Debt Statistical Bulletin for the fourth quarter of 2025, domestic borrowing remains a key pillar of the Government’s financing strategy.
By the end of December, domestic debt stood at over 253 billion kwacha, with Government Bonds accounting for more than 80 percent of the total — reflecting a preference for stable, long-term financing.
Short-term Treasury Bills also remained an important tool for managing Government’s cash flow requirements.
Local investors, including pension funds and commercial banks, continued to show confidence in Government securities, while foreign investors maintained strong participation in the bond market.
Financial analysts note that increased reliance on domestic financing helps reduce exposure to foreign exchange risks and supports the development of Zambia’s capital markets.
Authorities further emphasized that domestic borrowing remains within the 2025 Annual Borrowing Plan, signaling prudent fiscal management and a balanced approach to financing national priorities.
