Sovereign Analysis /
Zambia

Zambia: Opposition landslide boosts prospects, but upside now priced in

  • Hakainde Hichilema (HH) defeated incumbent President Lungu by over 1 million votes amid surge in voter turnout

  • Economic outlook vastly better under HH, boosting chance for timely IMF programme and restructuring

  • Zambia 24s have surged by c8.3pts (c12.5%) to cUS$75.6, with upside now largely priced in; downgrade to Sell from Hold

Zambia: Opposition landslide boosts prospects, but upside now priced in
Patrick Curran
Tellimer Research
16 August 2021
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