Zambia’s President Hakainde Hichilema began a second and final term after official results gave him about 60 percent of the vote in the August 13 election, against about 38 percent for opposition challenger Brian Mundubile. Mundubile rejected the result and alleged irregularities. The European Union Election Observation Mission said voters had a competitive choice but that the election was held on an uneven playing field, with transparency deteriorating after vote tabulation was suspended. Mundubile and his running mate, Makebi Zulu, were arrested and charged with treason after seeking refuge at a United Nations facility before surrendering. A security operation at a property linked to Mundubile left former cabinet minister Mutotwe Kafwaya dead and 11 others arrested. Hichilema highlighted debt restructuring, International Monetary Fund-backed reforms and renewed mining investment, but acknowledged that high food and energy costs have limited the benefits of economic stabilisation. Zambia’s bonds have remained resilient as investors prioritise continuity and the country’s role as a major copper producer, even as opposition groups and observers raise concerns about democratic institutions and the treatment of political opponents.