The Bank of Zambia (BoZ) has revealed that Zambia’s net foreign exchange sales by mining companies increased to US$626 million, while tax remittances to the central bank stood at US$289.7 million.

Speaking during his presentation at the Copperbelt Agricultural, Mining and Industrial Networking Expo (CAMINEX 2026) in Kitwe, BoZ Governor Dr. Denny Kalyalya said the mining sector has continued to strengthen its position as the backbone of Zambia’s macroeconomic stability.

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

The Central Bank Governor further disclosed that foreign financial institutions injected US$542.3 million into the market, representing a significant rise from US$335.6 million recorded in the preceding quarter.

Dr. Kalyalya also noted that the Bank of Zambia was a net buyer of US$196.94 million, aimed at reducing volatility in the foreign exchange market while strengthening the country’s reserves.

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