Africa Development Watch — Zambia Copper & Investment Policy Alert
A material new development suitable for OgasTv Africa coverage has emerged from Zambia’s presidential election.
President Hakainde Hichilema is leading the vote count and, as of August 16, 2026, had 54.82% of declared votes with results from 105 of 226 constituencies announced. His main challenger, Brian Mundubile, had 43%. If Hichilema keeps more than 50% of the final vote, he will secure re-election without a runoff.
Why it matters for Africa: Zambia is Africa’s second-largest copper producer after the Democratic Republic of Congo, and the election directly affects one of the continent’s most important strategic-minerals jurisdictions. Hichilema’s government has pursued tax and regulatory reforms that helped attract more than $10 billion in mining investment since 2021, while targeting a major expansion in copper production.
The investment implication is policy continuity. A Hichilema victory would likely reduce immediate political uncertainty around Zambia’s existing mining, debt-restructuring and foreign-investment strategy. Investors are particularly watching whether a second term would deliver greater power-generation capacity, faster exploration licensing, local-content implementation and the infrastructure required to expand copper production.
The second-order issue is more important for OgasTv Africa followers: Zambia’s copper ambitions sit at the centre of competition between China, the United States and other global powers seeking strategic-mineral supply. Zambia is also integral to both the western-backed Lobito Corridor and the Chinese-backed TAZARA rail system. Political continuity in Lusaka could therefore influence billions of dollars of future mining, electricity, processing and transport investment.
What is verified: official Electoral Commission figures reported on August 16 showed Hichilema leading with 54.82% after 105 constituencies had declared. Vote counting is continuing after an earlier temporary suspension linked to violence against election officials and stolen ballot papers. The commission subsequently resumed counting.
What remains unclear: Hichilema has not yet been officially declared the winner. More than half of Zambia’s constituencies were still outstanding at the latest verified count, and the final parliamentary balance is also unresolved. OgasTv Africa therefore report that he is on track for re-election, not that he has won.
