Monday, 9 November 2026Lusaka, Zambia
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Money & Credit

Broad Money (M3)

The widest measure of money: M2 plus other foreign-currency deposits, kwacha billions.

K225.5bnAug 2026+1.7%on the month+3.9%on the year
12-month average216.5
Record high225.5Aug 2026
Record low3.7Mar 2003
Observations284since Jan 2003

Broad Money (M3), Jan 2003 to Aug 2026

05010015020025020032006200920122015201820212024225.5

Show the numbers
MonthBroad Money (M3) (ZMW bn)
Aug 2026225.5
Jul 2026221.8
Jun 2026220.1
May 2026215.6
Apr 2026211.9
Mar 2026213.8
Feb 2026210.8
Jan 2026214.1
Dec 2025223.1
Nov 2025216.8
Oct 2025207.2
Sep 2025217.0
Aug 2025217.0
Jul 2025205.9
Jun 2025203.7
May 2025214.9
Apr 2025209.4
Mar 2025204.5
Feb 2025203.3
Jan 2025201.3
Dec 2024205.3
Nov 2024199.3
Oct 2024196.8
Sep 2024194.0
Aug 2024187.1
Jul 2024194.1
Jun 2024176.4
May 2024178.4
Apr 2024174.5
Mar 2024167.0
Feb 2024162.5
Jan 2024170.0
Dec 2023166.9
Nov 2023156.3
Oct 2023154.0
Sep 2023153.7
Aug 2023149.8
Jul 2023141.3
Jun 2023137.5
May 2023148.8
Apr 2023135.4
Mar 2023144.2
Feb 2023140.5
Jan 2023133.4
Dec 2022134.0
Nov 2022124.6
Oct 2022121.2
Sep 2022122.1
Aug 2022120.5
Jul 2022119.4
Jun 2022115.9
May 2022115.9
Apr 2022113.2
Mar 2022110.9
Feb 2022108.3
Jan 2022110.5
Dec 2021107.6
Nov 2021109.6
Oct 2021107.7
Sep 2021105.4
Aug 2021108.1
Jul 2021113.9
Jun 2021122.3
May 2021118.8
Apr 2021116.6
Mar 2021111.2
Feb 2021105.4
Jan 2021105.2
Dec 2020103.8
Nov 2020100.2
Oct 202098.8
Sep 202096.9
Aug 202093.4
Jul 202087.8
Jun 202082.5
May 202083.6
Apr 202081.3
Mar 202079.6
Feb 202072.6
Jan 202070.8
Dec 201970.9
Nov 201968.0
Oct 201965.4
Sep 201966.2
Aug 201965.5
Jul 201963.7
Jun 201963.7
May 201964.8
Apr 201962.5
Mar 201960.5
Feb 201961.8
Jan 201963.9
Dec 201863.0
Nov 201860.8
Oct 201858.0
Sep 201862.4
Aug 201855.7
Jul 201855.1
Jun 201855.3
May 201855.4
Apr 201852.8
Mar 201851.5
Feb 201853.4
Jan 201853.1
Dec 201754.1
Nov 201751.9
Oct 201750.8
Sep 201750.1
Aug 201749.4
Jul 201746.9
Jun 201747.8
May 201747.3
Apr 201746.6
Mar 201746.8
Feb 201745.5
Jan 201744.4
Dec 201644.6
Nov 201646.6
Oct 201644.2
Sep 201644.2
Aug 201643.8
Jul 201646.4
Jun 201644.1
May 201645.7
Apr 201643.8
Mar 201644.9
Feb 201645.8
Jan 201645.5
Dec 201547.3
Nov 201546.3
Oct 201550.2
Sep 201546.6
Aug 201542.4
Jul 201537.5
Jun 201536.9
May 201537.5
Apr 201536.5
Mar 201537.5
Feb 201535.8
Jan 201535.8
Dec 201435.0
Nov 201433.8
Oct 201433.8
Sep 201433.6
Aug 201433.3
Jul 201432.5
Jun 201432.7
May 201435.0
Apr 201434.4
Mar 201433.4
Feb 201432.4
Jan 201431.6
Dec 201331.0
Nov 201329.5
Oct 201329.6
Sep 201329.0
Aug 201329.3
Jul 201328.7
Jun 201327.8
May 201326.7
Apr 201326.5
Mar 201325.8
Feb 201327.6
Jan 201325.2
Dec 201227.6
Nov 201224.8
Oct 201224.4
Sep 201222.7
Aug 201223.2
Jul 201222.7
Jun 201223.0
May 201222.4
Apr 201222.3
Mar 201222.3
Feb 201221.8
Jan 201221.4
Dec 201121.8
Nov 201121.5
Oct 201121.5
Sep 201121.2
Aug 201121.5
Jul 201120.6
Jun 201120.3
May 201118.9
Apr 201117.9
Mar 201117.4
Feb 201118.0
Jan 201119.0
Dec 201017.9
Nov 201017.6
Oct 201016.9
Sep 201017.3
Aug 201016.8
Jul 201016.4
Jun 201016.1
May 201015.0
Apr 201014.7
Mar 201014.0
Feb 201013.7
Jan 201013.1
Dec 200914.0
Nov 200913.9
Oct 200913.7
Sep 200913.5
Aug 200913.4
Jul 200913.4
Jun 200913.0
May 200912.6
Apr 200912.9
Mar 200913.0
Feb 200913.2
Jan 200913.0
Dec 200813.0
Nov 200812.8
Oct 200812.7
Sep 200811.2
Aug 200811.4
Jul 200811.3
Jun 200810.8
May 200810.8
Apr 200810.2
Mar 200810.3
Feb 200810.3
Jan 200810.7
Dec 200710.7
Nov 20079.8
Oct 20079.4
Sep 20079.5
Aug 20079.5
Jul 20079.1
Jun 20078.5
May 20078.3
Apr 20077.8
Mar 20077.8
Feb 20077.8
Jan 20077.9
Dec 20068.4
Nov 20067.7
Oct 20067.2
Sep 20067.7
Aug 20067.1
Jul 20066.7
Jun 20066.3
May 20066.0
Apr 20065.7
Mar 20065.8
Feb 20065.8
Jan 20065.9
Dec 20055.8
Nov 20055.6
Oct 20055.9
Sep 20056.0
Aug 20055.9
Jul 20056.0
Jun 20055.9
May 20055.7
Apr 20055.5
Mar 20055.5
Feb 20055.5
Jan 20055.6
Dec 20045.8
Nov 20045.5
Oct 20045.4
Sep 20045.4
Aug 20045.4
Jul 20045.4
Jun 20045.2
May 20044.9
Apr 20044.8
Mar 20044.6
Feb 20044.5
Jan 20044.5
Dec 20034.4
Nov 20034.1
Oct 20034.1
Sep 20034.1
Aug 20033.9
Jul 20033.8
Jun 20033.9
May 20033.8
Apr 20033.7
Mar 20033.7
Feb 20033.7
Jan 20033.7

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.

-20020406020042007201020132016201920222025

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 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 ManufacturingK23.2bn+1.9%m/m−2.9%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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