During a recent press briefing, the Minister of Commerce, Trade and Industry, Hon. Chipoka Mulenga, MP, highlighted key developments in Zambia’s economic landscape and the impact of government reforms on the cost of living. The Minister noted that with inflation now in single digits, the completion of the International Monetary Fund programme, and lower production costs, there is no justification for only a few brands reducing their prices. He emphasized that government remains committed to sound economic policies and continues to work with the private sector to ensure affordable, high-quality goods and services for all citizens. Mulenga called on chain stores and manufacturers to pass on the benefits of government reforms to consumers through broader price reductions.
The Minister welcomed the decision by the Zambia Association of Manufacturers and approximately 30 companies to voluntarily reduce prices of essential commodities. He noted that the price cuts, ranging from 5 to 20 percent, reflect improving economic fundamentals and the positive effects of ongoing government reforms. These voluntary reductions demonstrate that the difficult but necessary economic measures undertaken under President Hakainde Hichilema’s leadership are beginning to yield tangible results. Mulenga explained that lower inflation, restored fiscal discipline, a more stable currency, and reduced fuel costs have created a more favorable operating environment for businesses, allowing them to pass savings to households.
Highlighting specific examples, the Minister cited that the price of mealie meal has dropped by about 13 percent across various brands. He also mentioned reductions in selected bread brands, cooking oil, and other basic goods. Mulenga emphasized that Zambians feel the economy through the cost of living in their homes, not through abstract statistics, and welcomed these steps as easing pressure on family budgets. He expressed gratitude to the Zambian people for their patience and sacrifice during the reform period and reassured citizens that more positive outcomes are expected as reforms continue.
The Minister commended the Zambia Association of Manufacturers and the participating companies for responding positively to the government’s call. He urged other manufacturers and business players to follow suit, ensuring that the improved economic conditions translate into real benefits for all households. Mulenga stressed that widespread adoption of price reductions would reinforce confidence in the economy and improve living standards. By aligning private sector actions with government reforms, citizens can experience the direct impact of a stable and growing economy.
Hon. Mulenga concluded by reiterating that the government will continue its commitment to sound economic policies and partnership with the private sector. The ongoing reforms, combined with voluntary corporate action, signal a turning point for Zambia’s economy. Citizens are already seeing the benefits in reduced prices for essential goods, demonstrating that effective policy, stable markets, and responsible business practices can work together to improve household welfare. These measures are expected to continue creating positive economic outcomes across the country.