Monday, 9 November 2026Lusaka, Zambia
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Money & Credit

Credit to the Private Sector

What the banking system is owed by businesses and households, kwacha billions.

K106.0bnAug 2026+2.5%on the month+9.7%on the year
12-month average99.2
Record high106.0Aug 2026
Record low9.5Jan 2011
Observations188since Jan 2011

Credit to the Private Sector, Jan 2011 to Aug 2026

025507510012520112013201520172019202120232025106.0

Show the numbers
MonthCredit to the Private Sector (ZMW bn)
Aug 2026106.0
Jul 2026103.4
Jun 2026101.3
May 202696.6
Apr 202696.7
Mar 202696.8
Feb 202696.4
Jan 202698.3
Dec 202599.6
Nov 202599.0
Oct 202597.1
Sep 202599.5
Aug 202596.7
Jul 202590.4
Jun 202589.8
May 202590.8
Apr 202589.6
Mar 202589.5
Feb 202589.2
Jan 202586.2
Dec 202486.1
Nov 202484.8
Oct 202482.7
Sep 202482.0
Aug 202477.2
Jul 202479.6
Jun 202474.9
May 202476.7
Apr 202474.6
Mar 202472.8
Feb 202470.8
Jan 202473.1
Dec 202371.4
Nov 202367.3
Oct 202364.9
Sep 202363.2
Aug 202361.1
Jul 202358.1
Jun 202355.2
May 202355.0
Apr 202352.9
Mar 202355.4
Feb 202354.9
Jan 202352.9
Dec 202250.6
Nov 202248.5
Oct 202246.3
Sep 202244.5
Aug 202244.9
Jul 202243.3
Jun 202243.7
May 202242.6
Apr 202241.0
Mar 202240.7
Feb 202239.4
Jan 202238.2
Dec 202137.7
Nov 202140.3
Oct 202140.5
Sep 202140.6
Aug 202140.2
Jul 202143.1
Jun 202144.7
May 202144.2
Apr 202141.2
Mar 202140.2
Feb 202140.2
Jan 202139.9
Dec 202040.8
Nov 202042.3
Oct 202041.6
Sep 202040.3
Aug 202039.8
Jul 202038.0
Jun 202038.4
May 202038.9
Apr 202039.5
Mar 202039.9
Feb 202037.4
Jan 202037.5
Dec 201937.6
Nov 201938.4
Oct 201936.6
Sep 201935.4
Aug 201935.2
Jul 201935.0
Jun 201934.8
May 201935.2
Apr 201934.6
Mar 201933.4
Feb 201932.9
Jan 201932.7
Dec 201832.1
Nov 201832.1
Oct 201831.9
Sep 201832.7
Aug 201829.4
Jul 201828.7
Jun 201828.6
May 201828.7
Apr 201827.8
Mar 201827.3
Feb 201827.4
Jan 201827.3
Dec 201727.5
Nov 201727.4
Oct 201726.3
Sep 201726.1
Aug 201725.0
Jul 201725.4
Jun 201725.7
May 201725.1
Apr 201725.2
Mar 201725.3
Feb 201725.5
Jan 201726.0
Dec 201626.2
Nov 201627.2
Oct 201627.2
Sep 201627.7
Aug 201627.8
Jul 201628.9
Jun 201628.1
May 201628.7
Apr 201627.7
Mar 201629.2
Feb 201629.5
Jan 201629.5
Dec 201528.9
Nov 201528.3
Oct 201529.8
Sep 201529.3
Aug 201526.9
Jul 201524.8
Jun 201524.1
May 201524.0
Apr 201524.0
Mar 201523.7
Feb 201522.9
Jan 201522.2
Dec 201422.3
Nov 201422.4
Oct 201422.1
Sep 201421.8
Aug 201420.7
Jul 201421.4
Jun 201420.7
May 201421.7
Apr 201420.6
Mar 201420.0
Feb 201419.6
Jan 201419.3
Dec 201318.0
Nov 201318.2
Oct 201318.0
Sep 201317.5
Aug 201317.6
Jul 201317.3
Jun 201318.2
May 201316.9
Apr 201316.5
Mar 201315.9
Feb 201316.2
Jan 201315.9
Dec 201215.9
Nov 201215.9
Oct 201215.4
Sep 201214.3
Aug 201213.8
Jul 201213.5
Jun 201213.2
May 201212.8
Apr 201212.3
Mar 201212.2
Feb 201212.0
Jan 201211.8
Dec 201111.7
Nov 201111.5
Oct 201111.1
Sep 201110.7
Aug 201110.8
Jul 201110.5
Jun 201110.4
May 201110.2
Apr 20119.9
Mar 20119.8
Feb 20119.5
Jan 20119.5

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.

-20020406020122014201620182020202220242026

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 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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