Zambia’s 2026 Legislative Agenda: Two Bills with Commercial Impact

Zambia has opened 2026 with proposed reforms that could materially affect the

financial services and agricultural sectors.

The National Payment System Bill, No. 32 of 2025, and the Agriculture

Marketing Bill, No. 35 of 2025, were scheduled for Second Reading in February

2026. If enacted, both Bills will tighten regulatory oversight and formalise market

structures in their respective sectors.

This is not routine legislative housekeeping. These measures signal a deliberate

policy shift toward stronger supervision, institutionalisation and market discipline.

1. National Payment System Bill, 2025

A structural reset for digital payments

The Bill proposes to repeal and replace the National Payment Systems Act, Cap.

359, and modernise Zambia’s legal framework governing payment, clearing and

settlement systems.

Key features include:

• Licensing and authorisation of payment service providers

•  Enhanced regulatory supervision

•  Stronger corporate governance expectations

• Consumer protection and market conduct provisions

• Oversight mechanisms in cases of restructuring or insolvency

What this means commercially

For banks, fintechs, mobile money operators and payment intermediaries, the

direction is clear:

• More defined licensing exposure — Businesses must assess whether

  current or adjacent activities fall within the proposed regulatory perimeter.

• Higher governance expectations — Payment operations will require clearer

  board-level oversight and documented risk controls.

• Regulatory intervention risk — The supervisory architecture anticipates

  systemic risk management, particularly in distress scenarios.

For well-structured operators, this creates greater legal certainty. For under-

governed platforms, it raises the compliance threshold.

2. Agriculture Marketing Bill, 2025

Institutionalising agricultural market oversight

The Bill proposes the establishment of a Zambian Agricultural Marketing

Council to regulate and support agricultural markets, alongside mechanisms to

improve market information and coordination.

The thrust of the reform is formalisation:

• Centralised oversight of agricultural marketing

• Structured data and market intelligence functions

• Support for value chain development

• Promotion of competitiveness in domestic and export markets

Commercial implications

For farmers, commodity traders, agro-processors and exporters, this signals:

• More structured regulatory participation

• Increased reporting and compliance exposure

• Improved market transparency and price visibility

• Greater alignment with regional and international standards

The policy direction is toward coordinated markets rather than fragmented trading

systems.

Strategic Positioning for Businesses

Both Bills remain subject to parliamentary debate and possible amendment.

However, waiting for enactment before preparing would be reactive.

Businesses in the affected sectors should now:

• Conduct regulatory impact assessments

• Review governance and compliance systems

• Map licensing and authorisation exposure

• Consider participating in stakeholder consultation processes

Early preparation reduces operational disruption and protects commercial continuity.

Final Observation

The legislative trajectory is clear: stronger regulatory architecture, clearer

supervisory authority and more structured market systems.

Financial institutions and agribusinesses that anticipate these shifts will adapt

smoothly. Those that do not may find themselves adjusting under pressure.

Firms operating in financial services and agribusiness should treat these reforms not

merely as compliance exercises, but as strategic inflection points. Regulatory reform

often reshapes competitive advantage. Early legal analysis and structured

implementation planning can materially reduce risk and position businesses ahead of

the curve.

Disclaimer

This publication is for general informational purposes only and does not constitute

legal advice. The Bills discussed remain subject to amendment and enactment.

Specific legal advice should be sought before taking action based on proposed

legislation.

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