In the labyrinth of recessionary pressure induced petroleum price plummets, power woes and a strong global decarbonization drive, energy businesses will seek diversification opportunities so as to remain afloat. One such entity that has taken a bold stance to widen its earning streams is Lusaka Securities Exchange listed PUMA Energy (ISIN:0000000185) that intends to venture into the liquefied petroleum gas sector. PUMA seeks to acquire Ogaz Zambia, the second largest LPG gas provider commanding a 17.4% market share after Afrox at 25%. PUMAs appetite for the transaction is supported by a favorable environment for clean cooking promotion by both global…
Author: The Editor
Africa’s second largest red metal producer Zambia currently grapples with a sliding currency and energy price pressures. This is in the wake of demand outstripping supply in the foreign exchange market coupled with electricity load management of 8 hours daily. The Southern African nation is in the middle of a debt restructure that has delayed and is breeding market fatigue manifesting in asset sell-off pressure. Despite annual inflation for January reported by the Zambia Statistics Agency ebbing to 9.4%, from a three month high of 9.9%, overall monthly inflation rose to 2.1% from 0.8% due to an uptick in food…
Stocks for the largest bank by asset size in Africa’s red metal producer are set for a positive cue after release of its full year 2022 prudential earnings results. Trading as ZM:ISIN0000000250 Zanaco stock has seen a rally that has made it the second best performer on the local bourse the Lusaka Securities Exchange (LuSE). Zambia National Commercial Bank’s FY22 financial performance reveals a new watermark high after its after tax earnings sprinted 28% to K1.35 billion. With a clientele base north of 3.3 million the LuSE listed bank led the curve across all faculties ranging from income to customer…
Africa’s red metal hotspot continues to be a darling to global and multilateral partners especially after the August 2021 election outcome. The copper producer has made significant strides towards restoration of fiscal fitness in such a short space under the leadership of Hakainde Hichilema. The Southern African nation, has in the week beginning January 22 hosted two of the world’s most powerful female personalities in the womenomics faculty – the US Treasury Secretary Janet Yellen and the International Monetary Fund’s Managing Director Kristalina Georgieva. Janet Yellen is said to be woman that has done what no man has done in…
Power woes in Africa’s red metal hotspot Zambia, will ease 150MW in deficit after Maamba coal plant fires into the national grid. The plant’s capacity has successfully been restored back to 300 MW following weeks of equipment maintenance that lengthened load management hours to 12 hours daily. The restoration of power generation by default narrows the Southern African nations power bottleneck to 470 MW from an earlier 620 MW reducing the energy rationing period to 8 hours from an earlier 12 hour plan daily. READ ALSO: Amidst Energy Crisis, Zambia’s Head of State Courts Maamba Coal and Kariba Plants Zambia’s…
Africa’s second largest copper producer Zambia, is faced with a power crisis that has triggered urgent brainstorm action by its authorities. With load management of 12 hours daily, businesses are left in limbo as to their economic survival. Head of state in the Southern African nation Hakainde Hichilema led a delegation to Maamba Collieries and Kariba plants on January 08, a day after a consultative meeting with energy stakeholders in the capital Lusaka was held. Maamba Collieries contributes 300 mega watts to the power grid and has been a critical independent power producer especially in critical times. READ ALSO: Zambian…
Africa’s second largest copper hotspot faces an energy poverty crisis as climate risks heighten. The power utility in Southern African nation has rolled out a 12 hours rolling blackout schedule as it seeks to ration electricity. The power deficit is as a consequence of soaring hydrological risks as dam levels at the worlds largest man made dam the Kariba, plummet to record lows. This has impacted electricity generation affecting not only Zambia but its liberation struggle neighbor Zimbabwe. Head of state Hakainde Hichilema on January 07 called for an emergency meeting of energy stakeholders to deliberate on solutions for a…
As the world aggressively decarbonizes to curb climate risk pressures, the base metal markets continue to take a positive cue from rising battery demand to power electric cars. Africa’s green metal producers Democratic Republic of Congo (DRC) and Zambia are poised to play a significant role in the supply of copper and cobalt which are key inputs in the electric vehicle battery manufacture. Power demand, is poised to widen from increased appetite from charging ports, a population boom and above all mining expansion activities in the years to come. Copperbelt Energy Corporation, a power transmission and distribution firm will seek…
Zambias energy authorities have just announced a 25% scrap of customs duty on gasoline imports effective 01 Jan 2023.
A man counts K50 notes in Africa’s second largest copper producer, Zambia.