Monday, 9 November 2026Lusaka, Zambia
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Banking & Liquidity

Banking System Claims on Government

Net lending to the government by the Bank of Zambia and the commercial banks together, kwacha billions.

K74.8bnSep 2026−8.0%on the month+25.2%on the year
12-month average68.9
Record high81.3Aug 2026
Record low0.8Aug 2015
Observations225since Jan 2008

Banking System Claims on Government, Jan 2008 to Sep 2026

020406080100200820112014201720202023202674.8

Show the numbers
MonthBanking System Claims on Government (ZMW bn)
Sep 202674.8
Aug 202681.3
Jul 202680.0
Jun 202672.8
May 202663.3
Apr 202664.9
Mar 202662.6
Feb 202655.9
Jan 202666.3
Dec 202567.8
Nov 202569.4
Oct 202567.3
Sep 202559.7
Aug 202553.2
Jul 202554.3
Jun 202552.3
May 202551.9
Apr 202553.3
Mar 202555.8
Feb 202556.7
Jan 202554.4
Dec 202453.0
Nov 202457.9
Oct 202450.9
Sep 202456.1
Aug 202457.4
Jul 202453.8
Jun 202458.2
May 202447.7
Apr 202449.6
Mar 202456.9
Feb 202453.7
Jan 202460.1
Dec 202362.7
Nov 202360.7
Oct 202356.7
Sep 202357.6
Aug 202356.6
Jul 202356.3
Jun 202359.7
May 202357.4
Apr 202353.7
Mar 202355.3
Feb 202348.1
Jan 202348.2
Dec 202261.6
Nov 202259.5
Oct 202258.1
Sep 202255.0
Aug 202254.9
Jul 202250.3
Jun 202253.6
May 202260.1
Apr 202247.9
Mar 202259.8
Feb 202256.3
Jan 202260.2
Dec 202163.9
Nov 202151.1
Oct 202159.4
Sep 202158.6
Aug 202162.7
Jul 202157.8
Jun 202155.7
May 202152.3
Apr 202160.4
Mar 202152.0
Feb 202158.4
Jan 202153.7
Dec 202056.4
Nov 202053.5
Oct 202052.9
Sep 202049.2
Aug 202049.2
Jul 202045.0
Jun 202036.3
May 202038.3
Apr 202035.8
Mar 202033.2
Feb 202035.2
Jan 202035.7
Dec 201929.6
Nov 201931.6
Oct 201933.3
Sep 201930.5
Aug 201925.3
Jul 201923.7
Jun 201924.3
May 201924.8
Apr 201925.2
Mar 201925.5
Feb 201924.4
Jan 201924.6
Dec 201825.0
Nov 201824.8
Oct 201821.7
Sep 201823.1
Aug 201821.3
Jul 201819.3
Jun 201821.3
May 201820.9
Apr 201820.8
Mar 201821.6
Feb 201820.3
Jan 201820.2
Dec 201720.5
Nov 201719.6
Oct 201720.7
Sep 201722.2
Aug 201718.1
Jul 201716.2
Jun 201716.3
May 201716.2
Apr 201714.7
Mar 201715.8
Feb 201715.3
Jan 201712.5
Dec 201613.4
Nov 201611.8
Oct 201612.3
Sep 201611.0
Aug 201612.3
Jul 201611.7
Jun 20169.1
May 20168.4
Apr 20167.2
Mar 20168.0
Feb 20169.0
Jan 20167.1
Dec 20157.0
Nov 20156.8
Oct 20155.2
Sep 20152.0
Aug 20150.8
Jul 20150.9
Jun 20159.6
May 20159.7
Apr 20159.7
Mar 20158.6
Feb 20158.7
Jan 20157.1
Dec 20146.2
Nov 20144.9
Oct 20145.5
Sep 20144.2
Aug 20143.8
Jul 20143.0
Jun 20143.0
May 20143.1
Apr 20142.3
Mar 20149.3
Feb 20148.4
Jan 20147.8
Dec 20138.0
Nov 20136.5
Oct 20137.2
Sep 20136.8
Aug 20135.5
Jul 20136.3
Jun 20136.2
May 20135.6
Apr 20135.9
Mar 20135.2
Feb 20134.7
Jan 20135.4
Dec 20124.9
Nov 20123.8
Oct 20123.5
Sep 20124.0
Aug 20124.8
Jul 20124.0
Jun 20124.1
May 20124.0
Apr 20123.3
Mar 20123.7
Feb 20123.5
Jan 20123.2
Dec 20114.5
Nov 20113.5
Oct 20113.5
Sep 20113.2
Aug 20112.9
Jul 20112.4
Jun 20114.0
May 20113.8
Apr 20113.2
Mar 20114.0
Feb 20113.9
Jan 20113.2
Dec 20103.3
Nov 20104.1
Oct 20103.0
Sep 20103.6
Aug 20103.9
Jul 20103.8
Jun 20103.8
May 20103.3
Apr 20103.8
Mar 20103.3
Feb 20103.3
Jan 20101.9
Dec 20092.9
Nov 20093.1
Oct 20092.7
Sep 20093.3
Aug 20093.2
Jul 20092.9
Jun 20092.7
May 20092.8
Apr 20092.6
Mar 20092.7
Feb 20092.8
Jan 20092.5
Dec 20082.4
Nov 20081.6
Oct 20081.4
Sep 20081.2
Aug 20081.1
Jul 20081.1
Jun 20081.3
May 20081.1
Apr 20080.9
Mar 20081.4
Feb 20081.8
Jan 20081.7

Source: Bank of Zambia. Monthly. Gaps in the line are months with no published figure.

Change on a year earlier

Each bar is this month against the same month twelve months before — the comparison that strips out the seasonal pattern.

-50005001,0001,500200920112013201520172019202120232025

IncreaseDecrease

Related analysis

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Nothing published on this indicator yet. KSJ analysis appears here as it is written.

More in Banking & Liquidity

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Liquid Assets Ratio59.07%−7.86 ppm/m−51.70 ppy/ySep 2026Required Liquid Assets Ratio6.00%0.00 ppm/m0.00 ppy/ySep 2026Statutory Reserve Ratio22.20%−0.15 ppm/m−4.37 ppy/ySep 2026Required Reserve Ratio21.00%0.00 ppm/m−5.00 ppy/ySep 2026Banks’ Current Account BalancesK7.0bn−8.9%m/m+35.7%y/ySep 2026Bank Deposits (Kwacha)K130.3bn+1.1%m/m+24.9%y/ySep 2026Bank Deposits (Foreign Currency)$4,624.1m+0.9%m/m+9.4%y/ySep 2026

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