Manufacturing pulse in Africa’s copper producer Zambia is back in expansionary zone after two months of contraction. According to the Markit Economics purchasing managers index, factory activity in the red metal producer scaled above 50 to headline 50.5 for the month of July, from the previous months 49.9 after an earlier slump further to 49.6 in May. This turn around was supported by a business confidence rebound. Fifty (50) remains the benchmark for expansion (>50) and contraction (<50). Zambia’s economic fortunes face optimism as the Southern Africa nation is on the cusp of a bailout deal with the Washington based…
Author: The Editor
With exactly 2 weeks to the pen ultimate rate decision announcement of the year 2022, market expectations remain skewed towards a tad outcome. The monetary policy committee will commence rate decision deliberations on Monday 15 August through to Wednesday 17 August when Governor Dr. Denny Kalyalya will announce the rate stance in the Bank of Zambia hall. Although consumer price index headlined 9.9%, a 20 point climb from Junes level as food prices scaled higher. This was dubbed by analysts as the end of the easing cycle, a pattern observed over the last 11 months as base effects thickened. Against…
With very strong decarbonization efforts globally, Africa’s second largest copper hotspot Zambia is readying to be ahead of the curve with electric vehicle charging solutions. Barely a few months ago the two copper hotspots Zambia and Democratic Republic of Congo signed economic protocols for the manufacture of electric batteries leveraging off copper, cobalt, lithium and manganese deposits in the Copperbelt of Africa. The Lithium chargeable battery then breeds demand for charging ports to replenish battery power which ZESCO ltd the power utility in the Southern African nation is readying for. READ ALSO: Africa’s Copperbelt readies to Commercialize Global Decarbonization through Electric…
Africa’s second largest copper producer has made strides in its debt restructure deliberations with the most recent announcement by the International Monetary Fund Managing Director Kritalina Georgeiva on the lenders website. Its over 20 months since the red metal producer officially requested for a package amidst frail fundamentals and widening debt woes. In the period Zambia has seen drastic shifts in political posture following change in governance regime fueling a stronger will to restore fiscal fitness. In the period August 2021 to date, the Zambian head of state has courted the IMF and World Bank Chiefs respectively key of which…
Africa’s second largest copper producer has made strides in its debt restructure deliberations with the most recent announcement by the International Monetary Fund Managing Director Kritalina Georgeiva on the lenders website. Its over 20 months since the red metal producer officially requested for a package amidst frail fundamentals and widening debt woes. In the period Zambia has seen drastic shifts in political posture following change in governance regime fueling a stronger will to restore fiscal fitness. In the period August 2021 to date the Zambian head of state has courted the IMF and World Bank Chiefs key of which was…
Economic fortunes for Africas red metal hotspot are at brink of a positive turnaround following strides attained in the fiscal space. Having made headlines for being the first to default on its dollar debt in the pandemic period, Zambia’s credit profile sees reprieve in sight following strides the creditor engagement process has made over the last few weeks. The copper producer continue to be on the receiving end of light at the end of a debt tunnel hinted by World Bank and International Monetary Fund leaders in the last one week. Expected value of perfect informationMarkets on the other hand…
In the labyrinth of a debt restructure backed by strides towards creditor consensus, Zambia is on the cusp of bailout support with the Washington based lender the International Monetary Fund. On 27 July, the head of state in Africa’s second largest copper hotspot, Hakainde Hichilema, directed the minister of finance Dr. Situmbeko Musokotwane to seek parliament approval for supplementary fiscal funding for K22 million (circa.$1.2 billion) stemming from revenue outperformance reserves. It is typical of supplementary budgets in the third quarter historically arising from funding needs that ideally would be financed by the domestic money markets through government security issuances.…
Nickel, a key metal in lithium rechargeable batteries, stainless steel manufacture and other alloys used in jet engines has put Zambia on the international map as First Quantum Minerals (FQM) on 26 July shined the sun on the continents largest Nickel deposit situated in Kalumbila on the north western part of the Southern African nation. This area is dubbed the Copperbelt of Africa, neighboring the Democratic Republic of Congo (DRC) studded with key green metals. The ceremony was officiated by Zambia’s head of state Hakainde Hichilema in the company of mines minister Paul Kabuswe who were met by FQM Chief…
The World Bank Group investment arm the International Finance Corporation is extending $35 million in debt assistance to Zambia’s largest agribusiness entity towards the $100 million expansion program aimed at doubling its Mpongwe asset. According to a stock exchange news release, Zambeef (AIM: ZAM), announced a K570 million debt facility with the Washington based lender. Zambeefs strategy is supported by global grain market dislocations fueled by the Russo – Ukrainian war that shorted the world food supply significantly. READ ALSO: Zambeef to Double its Mpongwe Asset Capacity with a $100million Investment as Global Commodity Prices Spiral The IFC term loan will…
Payments in Africa’s red metal hotspot Zambia are morphing fast to cashless especially with the advent of the COVID19 pandemic. This follows the soaring appetite for electronic money as the central bank widened limits for plastic money in the pandemic period. According to the Bank of Zambia quarterly payment statistics, total retail payments for 1Q22 grew 44% to K117.1 billion year on year supported by 49.0% sprint in mobile money (MoMo) transactions to K50.4 billion, 19% growth in electronic funds transfer (ETF) and a 133% rally in point of sale (POS) spike to K24.3 billion. The growth in quantum was…