Zambia will begin issuing 20-year government bonds, introducing its longest-dated domestic debt instrument as authorities seek to deepen the country’s financial markets.
The Bank of Zambia announced the new maturity on Thursday while publishing the government bond auction calendar for the fourth quarter of 2026.
The central bank said the 20-year bond was designed to support the development and expansion of longer-term financial instruments in Zambia’s domestic market.
The next government bond auction is scheduled for November 20.
Until now, Zambia has issued government securities with maturities of two, three, five, seven, 10 and 15 years. The addition of a 20-year instrument gives investors a longer-term option while potentially allowing the government to spread borrowing obligations over a longer period.
The move comes as Zambia continues efforts to stabilise its finances following years of external debt restructuring negotiations.
An International Monetary Fund mission is currently in Zambia for discussions on a new support programme.
The government is targeting average economic growth of about 7% over the next three years as the country seeks to move beyond its prolonged debt crisis and attract increased investment.
