By Emmanuel Nduka Obisue
Zambia has been ranked the third most attractive destination for mining investment in Africa, according to the 2025 Annual Survey of Mining Companies conducted by the Fraser Institute.
The report places Zambia behind Botswana and Morocco on the continent.
Globally, the southern African nation improved its standing to 25th place on the Investment Attractiveness Index, up from 28th in the previous survey.
Zambia recorded a score of 72.84 on the index, reflecting rising investor confidence in the country’s mineral resources and policy environment. The survey evaluated 68 mining jurisdictions worldwide and drew responses from 256 mining executives representing companies with combined exploration spending of about $4.2 billion.
The Investment Attractiveness Index measures both mineral potential and policy-related factors such as regulatory stability, taxation, legal systems, infrastructure, political stability, labour regulations and administrative efficiency.
The findings also indicate that Zambia improved its position on the Policy Perception Index, climbing to 30th place globally with a score of 74.96, compared with 38th in the previous survey. Despite the progress, the report noted that the country still needs to strengthen areas such as trade-related procedures, security perceptions and labour regulatory clarity.
Under the Best Practices Mineral Potential Index, Zambia scored 71.43, ranking 20th globally and sixth in Africa. The rating reflects the country’s strong endowment of key minerals including copper, cobalt, gold and other emerging critical resources.
Commenting on the development, Finance Minister Situmbeko Musokotwane said the improved ranking reflects reforms undertaken by the government of President Hakainde Hichilema to stabilise the economy and attract private sector investment.
According to Musokotwane, efforts to restore macroeconomic stability, strengthen fiscal discipline, improve regulatory clarity and enhance engagement with investors have contributed to the sector’s renewed momentum.
He added that Zambia’s policy direction has helped attract about $12 billion in mining investments since 2021.
