GOVERNMENT has disclosed that it has paid 90 percent of the debt owed to Oil Marketing Companies (OMCs). In 2025, government’s debt to OMCs was reported to be around $800 million, from about $597 million reported in previous years. The debt in question comprised a mix of principal and accrued interest for fuel supplied between 2019 and 2022, a period during which subsidies were in place. In October 2025, the Oil Marketing Companies Association of Zambia, led by its now former president Dr Kafula Mubanga, urged government to engage external auditors to verify the authenticity of the debt owed to OMCs. The Association observed that most of the debt was owed to multinational OMCs that were likely to repatriate the...
