Zambia

Zambia

Zambia Hikes Interest Rates, Highest in 7 Years to Curb Inflation

he Central Bank of Zambia hiked its benchmark interest rate by 100 basis points to 13.5% during its regular meeting on the 15th of May 2024. This represents the highest interest rate since April 2017.

May 17, 2024
World
Zimbabwe’s Electricity Woes Pose Yuletide Gloom

Harare - Zimbabwe finds itself mired in an ongoing electricity crisis that shows no signs of abating, now expected to persist throughout the festive period. The situation is compounded by multiple fac

 Nov 16, 2023
Zambia
ZCCM Investments Holdings PLC Progresses in Negotiations with Vedanta: A Game-Changer for Zambia's Mining Industry

ZCCM Investments Holdings PLC (ZCCM-IH) has taken a significant step forward in negotiations with Vedanta Resources Limited, potentially reshaping the future of Konkola Copper Mines (KCM). The recent

 Nov 07, 2023
Zimbabwe
Global Nickel Market Faces Widening Surplus in 2024, Putting Pressure on Prices

The decline in nickel prices on the LME, which have fallen by 38% this year, underscores the challenging environment faced by nickel producers. Several factors have contributed to this situation, incl

 Oct 04, 2023
Climate
CEC Reports Strong Half-Year Results, Resolves Historic Issues, and Focuses on Clean Energy Integration

For the six-month period ending June 30th, 2023, CEC reported revenues of USD 186.6 million, a 2% increase from the previous year, primarily attributed to regional and local power sales growth. The co

 Aug 25, 2023
Zambia
Real Estate Investments Zambia Plc Set to Attain REIT Status

By attaining REIT status, REIZ will be able to access a wider pool of potential investors, including institutional funds, pension funds, foreign, and individual investors seeking exposure to real esta

 Aug 02, 2023
Zimbabwe
Tongaat Hulett's Sugar Division Acquired by Tanzania's Kagera Sugar: A Sweet Deal or Cause for Caution

Tongaat was recently at the centre of a storm involving accounts manipulation and gross mismanagement by the management, which dearly costed the company. Over the recent past, the Rudland brothers hav

 Jul 25, 2023
A Tale of Financial Woes: Seed Co’s FY Profit More than Halve

Agricultural concern outfit, Seed Co International Limited, a leading certified seed company involved in the breeding, multiplication, and distribution of mainly hybrid seed varieties, recorded a sign

Jul 04, 2023
Airtel Zambia's Profits Boom on Zambia's Debt Relief

Airtel Zambia, a subsidiary of Airtel Africa plc, reported a strong rise in quarterly profit on Wednesday, boosted by Zambia’s improving economy after the country reached a debt relief deal with bilat

Jul 03, 2023
Zambeef Posts Mixed Results Amid Macroeconomic Headwinds

Zambeef Products, Zambia’s largest agro-industrial firm, reported mixed results for the half year ended March 2023 as a result of difficult operating environment characterised by currency volatility a

Jul 03, 2023
ZCCM Investments Holdings Releases 2022 Financial Update, Focus on Reviving Mopani and Pursuing New Opportunities

Mopani, ZCCM’s flagship copper mining operations, incurred a loss of ZMW5.08 billion in 2022 compared to ZMW 1.46 billion in 2021. Mopani’s smelter shutdown for 45 days hampered its copper production,

Jul 02, 2023

Liquid Intelligent Technologies Zambia reports strong revenue growth

The Zambian unit of Pan African group Liquid Intelligent Technologies has reported a sharp growth in revenue for the financial year 2023. The subsidiary reported a double-digit growth of 18% in total

Jun 29, 2023

"Copper surplus hits 332,000 tonnes in Q1 2023, what does it mean for Zambia and other copper producers?"

According to the ICSG, world refined copper output increased by 7.5% to 6.69 million tonnes, while usage was estimated to be 2.3% higher at 6.35 million tonnes. This surplus can be attributed to a ris

May 29, 2023

Rare Earth Element Bonanza in Zambia: Prospect Resources secures Option for 51% in prospective REE project

The Kesya Project includes a large-scale exploration license where previous geological mapping and sampling has identified a large rare earth element (REE)-enriched carbonatite intrusion. Rock chip sa

May 15, 2023

Copper market to remain tight in 2023 before surpluses emerge

The ICSG now expects world copper mine production to increase by 3% in 2023, lower than the 5% growth forecast in October 2022. This downward revision is owing to operational issues, equipment failure

May 12, 2023