pension pot

Zambia uses pension funds to shore up debt-stressed economy  

By Chiwoyu Sinyangwe

Premium badge Reserved for subscribers

Posted on May 23, 2023 10:26

A man displays a 50,000 Kwacha note in Lusaka REUTERS/Mackson
A man displays a 50,000 Kwacha note in Lusaka REUTERS/Mackson

In Zambia, contributors to the fund seek to claim up to 20% of their total pension payout early, in a move hoped to stimulate the economy.

Facing the brutal effects of prolonged debt restructuring – which has depressed liquidity and increased the economic burden for its citizens – Zambia will, for the first time, allow eligible contributors of a government-owned pension fund to partially access pension savings before retirement in an effort to boost the economy.

There's more to this story

Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa. Unlocked.

Subscribe Now

cancel anytime