Monday, 9 November 2026Lusaka, Zambia
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Money & Credit

Bank Loans to Manufacturing

Commercial banks’ kwacha loans to manufacturing, kwacha billions.

K23.2bnAug 2026+1.9%on the month−2.9%on the year
12-month average22.3
Record high24.3Sep 2025
Record low0.6Feb 2008
Observations224since Jan 2008

Bank Loans to Manufacturing, Jan 2008 to Aug 2026

0102030200820112014201720202023202623.2

Show the numbers
MonthBank Loans to Manufacturing (ZMW bn)
Aug 202623.2
Jul 202622.7
Jun 202621.8
May 202619.0
Apr 202619.9
Mar 202621.3
Feb 202621.3
Jan 202622.5
Dec 202523.6
Nov 202524.2
Oct 202523.5
Sep 202524.3
Aug 202523.9
Jul 202520.7
Jun 202518.8
May 202520.4
Apr 202520.8
Mar 202521.4
Feb 202521.6
Jan 202520.0
Dec 202419.8
Nov 202419.4
Oct 202419.1
Sep 202418.5
Aug 202417.7
Jul 202416.8
Jun 202414.7
May 202415.0
Apr 202414.7
Mar 202414.0
Feb 202414.2
Jan 202415.2
Dec 202315.0
Nov 202313.8
Oct 202313.3
Sep 202312.3
Aug 202312.4
Jul 202311.5
Jun 202310.2
May 202310.2
Apr 20239.7
Mar 202310.3
Feb 202310.6
Jan 202310.0
Dec 20229.6
Nov 20229.6
Oct 20228.9
Sep 20228.5
Aug 20228.1
Jul 20228.2
Jun 20226.9
May 20226.2
Apr 20225.7
Mar 20225.5
Feb 20225.4
Jan 20225.4
Dec 20215.0
Nov 20215.3
Oct 20215.5
Sep 20215.3
Aug 20215.3
Jul 20215.7
Jun 20215.9
May 20215.8
Apr 20214.9
Mar 20214.9
Feb 20215.0
Jan 20214.8
Dec 20204.4
Nov 20204.5
Oct 20204.4
Sep 20204.0
Aug 20204.0
Jul 20203.8
Jun 20203.9
May 20203.9
Apr 20203.5
Mar 20203.3
Feb 20203.1
Jan 20203.0
Dec 20193.2
Nov 20193.6
Oct 20193.5
Sep 20193.2
Aug 20193.4
Jul 20193.5
Jun 20193.5
May 20193.4
Apr 20193.1
Mar 20192.8
Feb 20192.7
Jan 20192.7
Dec 20182.7
Nov 20182.6
Oct 20182.1
Sep 20182.2
Aug 20182.0
Jul 20182.2
Jun 20182.0
May 20182.1
Apr 20181.9
Mar 20181.8
Feb 20181.9
Jan 20182.0
Dec 20171.9
Nov 20172.0
Oct 20171.9
Sep 20171.7
Aug 20172.1
Jul 20172.4
Jun 20172.5
May 20172.5
Apr 20172.7
Mar 20172.7
Feb 20172.9
Jan 20172.9
Dec 20163.0
Nov 20163.0
Oct 20163.2
Sep 20163.2
Aug 20163.2
Jul 20163.3
Jun 20163.1
May 20163.1
Apr 20163.3
Mar 20163.4
Feb 20163.7
Jan 20163.7
Dec 20153.5
Nov 20153.6
Oct 20153.7
Sep 20153.5
Aug 20153.1
Jul 20152.7
Jun 20152.6
May 20152.8
Apr 20152.7
Mar 20152.5
Feb 20152.8
Jan 20152.7
Dec 20142.5
Nov 20142.6
Oct 20142.7
Sep 20142.5
Aug 20142.6
Jul 20142.6
Jun 20142.3
May 20141.9
Apr 20141.8
Mar 20141.7
Feb 20141.6
Jan 20142.0
Dec 20131.8
Nov 20132.0
Oct 20132.0
Sep 20132.1
Aug 20132.1
Jul 20132.1
Jun 20132.0
May 20131.9
Apr 20131.9
Mar 20131.9
Feb 20132.0
Jan 20132.0
Dec 20121.9
Nov 20121.9
Oct 20122.1
Sep 20121.8
Aug 20121.7
Jul 20121.6
Jun 20121.7
May 20121.6
Apr 20121.5
Mar 20121.6
Feb 20121.6
Jan 20121.6
Dec 20111.5
Nov 20111.5
Oct 20111.4
Sep 20111.1
Aug 20111.3
Jul 20111.2
Jun 20111.3
May 20111.3
Apr 20111.3
Mar 20111.2
Feb 20111.2
Jan 20111.2
Dec 20101.2
Nov 20101.3
Oct 20101.1
Sep 20101.2
Aug 20101.1
Jul 20101.1
Jun 20101.1
May 20101.1
Apr 20100.9
Mar 20100.9
Feb 20100.9
Jan 20100.9
Dec 20091.0
Nov 20091.0
Oct 20091.1
Sep 20090.9
Aug 20090.9
Jul 20090.8
Jun 20090.9
May 20091.0
Apr 20091.0
Mar 20090.9
Feb 20090.9
Jan 20090.9
Dec 20080.9
Nov 20080.9
Oct 20080.8
Sep 20080.8
Aug 20080.8
Jul 20080.8
Jun 20080.7
May 20080.6
Apr 20080.6
Mar 20080.6
Feb 20080.6
Jan 20080.6

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.

-50050100200920112013201520172019202120232025

IncreaseDecrease

Related analysis

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

More in Money & Credit

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Narrow Money (M1)K96.4bn+5.8%m/m+34.5%y/yAug 2026Broad Money (M2)K208.6bn+1.0%m/m+6.8%y/yAug 2026Broad Money (M3)K225.5bn+1.7%m/m+3.9%y/yAug 2026Broad Money Growth3.9%−3.75 ppm/m−12.02 ppy/yAug 2026Reserve MoneyK82.1bn−8.9%m/m+20.9%y/ySep 2026Currency in CirculationK24.9bn−3.5%m/m+8.8%y/ySep 2026Credit to the Private SectorK106.0bn+2.5%m/m+9.7%y/yAug 2026Bank Loans (Kwacha)K108.6bn+5.2%m/m+17.0%y/yAug 2026Bank Loans (Dollar)$2,401.3m+4.7%m/m+45.9%y/yAug 2026Bank Loans to AgricultureK13.5bn+29.1%m/m+35.9%y/yAug 2026Bank Loans to MiningK6.4bn+14.8%m/m+5.8%y/yAug 2026Bank Loans to EnergyK13.7bn+9.9%m/m+40.5%y/yAug 2026Bank Loans to TradeK8.2bn−3.9%m/m−18.5%y/yAug 2026

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