Citi Turns Bullish on Zambia Debt as Election Heralds Upgrades

Markets Contact us:Provide news feedback or report an error Confidential tip?Send a tip to our reporters Site feedback:Take our Survey By Ray Ndlovu and Mpho Hlakudi August 19, 2026 at 2:39 PM UTC Citigroup Inc. plans to go long on Zambia’s bonds as it sees the copper-producer to be in line for credit upgrades after recent elections. Friday’s local debt auction, the first to be held since incumbent President Hakainde Hichilema won last week’s ballot, will provide an opportunity to buy its domestic seven-year notes, according to a note Wednesday from Citi strategists including Katie Kironde. It’s also going overweight on Zambia on the credit side.