The World Bank has approved a $100 million financing package aimed at enhancing Zambia’s ability to manage natural disasters while strengthening its economic and climate resilience. The package combines a Climate and Economic Resilience Development Policy Financing (DPF) grant with a Catastrophe Drawdown Option (Cat-DDO), reflecting a dual approach toContinue Reading
The Central Bank of Congo (BCC) has released its economic report for the second week of December 2024, highlighting diverse trends in the prices of major commodities as of December 12, 2024. Performance of Key Commodities International Food Commodity TrendsGlobal food prices generally trended downward: Economic InsightsThe BCC report underscoresContinue Reading
UAE Eyes Strategic Partnership with Zambia to Boost Trade and Investment Michael Joseph Staford, Chief Financial Officer at Rafmol Gold in the United Arab Emirates (UAE), has emphasized the UAE’s keen interest in collaborating with the Zambian government to drive investments that directly benefit the Zambian people. Speaking at aContinue Reading
China Non-Ferrous Metal Company has reinforced its dedication to empowering local communities, setting a transformative example through its operations in Zambia. Robert Kamanga, Deputy Chief Executive Officer of Shaft 28 Technical, unveiled remarkable progress in the dewatering process at the Shaft 28 Mine, a project energized by a game-changing $100Continue Reading
DRC Faces $164 Million Budget Deficit Amid Rising Public Expenditures The Democratic Republic of Congo (DRC) is grappling with a budget deficit of approximately 575.9 billion Congolese Francs (CDF), equivalent to over $164 million, as of November 13, 2024, according to the Central Bank of Congo (BCC). This financial shortfallContinue Reading
Mimosa Resources and Mkushi Traditional Leaders Inspired by FQM’s Sustainable Mining Practices Mimosa Resources, in collaboration with the traditional leadership of Chief Chitina’s chiefdom in Mkushi, has commended First Quantum Minerals’ (FQM) commitment to sustainable mining practices following an eye-opening tour of the Kansanshi Mine in Solwezi, North-Western Province. TheContinue Reading
Miners Safely Rescued Following Zambia’s Nationwide Power Outage Miners trapped underground at two copper mines in Zambia were successfully rescued after a nationwide power outage disrupted operations, the Ministry of Energy reported on Monday. The blackout, which occurred on Sunday, was caused by a “power system disturbance,” according to stateContinue Reading
Successful Delivery of Cold Box Unit to Kansanshi Mine in Solwezi The Cold Box Unit has been successfully delivered to Kansanshi Mine in Solwezi, marking the completion of a challenging logistical operation that began on October 29, 2024, at the Katima Mulilo Border in Zambia’s Western Province. The journey spannedContinue Reading
Zambia and DRC Sign Milestone Agreement to Boost Trade and Infrastructure Zambia and the Democratic Republic of Congo (DRC) have sealed an agreement to construct a 145-kilometer road linking Kolwezi in the DRC to Lumwana in Zambia, through the Kambimba-Sakabinda border. This transformative project, finalized in Kolwezi, Lualaba Province, aimsContinue Reading
The Government of the Democratic Republic of Congo (DRC) raised $65.57 million through a local Treasury Bond auction held on November 19, 2024, as announced by Minister of Finance, Doudou Fwamba. The auction, which attracted six bidders, including banks and credit companies, saw a coverage rate of 65.57%, falling shortContinue Reading
