Zambia’s Ministry of Energy is making a passionate appeal for increased investments in sustainable electricity generation to bridge the country’s significant power deficit, exacerbated by climate-induced low water levels. Speaking in Lusaka, Permanent Secretary Peter Mumba emphasized the government’s unwavering support for energy sector investments, highlighting the urgency of theContinue Reading
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
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
A vibrant local capital market is crucial for attracting foreign institutional investors to Zambia’s mining sector, according to Norman Mbazima, a senior executive with over 20 years at Anglo American and Chairman of Anglo American Platinum. Speaking at the Zambian Mining and Investment Insaka, Mbazima emphasized the need to createContinue Reading
Zambia’s Minister of Mines and Minerals Development, Hon. Paul Kabuswe, MP, recently announced that the country’s mining sector has successfully attracted $12 billion in investments. Despite this impressive capital influx, the minister expressed concerns over stagnant copper production, which has remained at 750,000 metric tons. Minister Kabuswe reaffirmed the government’sContinue Reading
European countries and others have set ambitious targets to transition to electric mobility by 2035, with electric batteries being a cornerstone of this endeavor. These batteries consist of lithium and other vital minerals found in the Democratic Republic of Congo (DRC). However, the DRC faces challenges in fully leveraging itsContinue Reading
