By Derrick Silimina

The Bank of Zambia says the country’s net foreign exchange sales by mining companies has increased to $626 million while tax remittances to the Central bank amounted to $289.7 million.

Speaking during his presentation at the Copperbelt Agricultural, Mining and Industrial Networking Expo (CAMINEX 2026) in Kitwe, BoZ Governor Denny Kalyalya said Zambia’s mining sector has firmly reasserted its role as the primary engine of the nation’s macroeconomic stability.

“Together, these inflows raised total foreign exchange liquidity supplied by the mining sector to $915.7 million from $759.4 million in the previous quarter,” Dr. Kalyalya said.

In addition, The Central bank Governor noted that foreign financial institutions contributed $542.3 million to the market compared to $335.6 million in the previous quarter.

Dr. Kalyalya further outlined that the Bank was a net buyer of $196.94 million to moderate volatility in the foreign exchange market and build reserves.

“Due to improved liquidity, net supply increased to $230.2 million compared to $93.4 million in the previous quarter.”