Thursday, February 29

Zambia

zambia flooding situation
  • About  22 districts across Zambia are underwater due to climate change-induced flooding caused by above-average rains according to CARE Zambia
  • The humanitarian organisation reports that over 70 districts in Zambia are at a high risk of flooding even as the rains continue to fall, and rivers burst their banks.
  • The climate crisis has directly affected at least 1.5 million people – including an estimated 821,000 children.

About 22 districts across Zambia are underwater due to climate change-induced flooding caused by above-average rains according to CARE International.  

The firm reports that over 70 districts in Zambia are at a high risk of flooding even as the rains continue to fall, and rivers burst their banks. 

In six districts where CARE works, there has been continuous rains that have led to flash floods. Hundreds of hectares of planted fields and grazing lands are underwater. Homes have been submerged as roads and bridges

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Energy Resources across Africa.Source Research Gate Oghomwen Igbinovia

As Africa’s role in the global economy continues to garner prominence, it’s imperative for the continent to seal the gaping hole in its power supply.

Lack of universal power access remains a major roadblock that has retrogressed industrialization and socio-economic development. Statistics from the World Bank indicate that Africa remains the least electrified region in the world, with 568 million people lacking access to electricity.

The Bretton Woods institution, further notes that the Sub-Saharan Africa’s share of the global population without electricity, jumped to 77 per cent in 2020 from 71 per cent in 2018, whilst most regions saw declines in their share of access deficits. It has become a Hobson’s choice for African governments to prioritize the power sector, which is the epicenter of industrialization, working towards Goal 7 of the UN SDGs; which advocates for universal access to affordable, reliable and modern electricity services.

Currently, Africa’s power is …

Copper plates in Zambia. Copper has given the Zambian Kwacha more strength against the dollar. www.theexchange.africa

A dollar is trading at 16.67 Kwacha and 13.35 Seychelles rupees as at December 31. Both countries were among the three worst performers in 2020.
This has fueled speculation from corporate participants and currency retail traders on when exactly to exit foreign currency risks for dollar hoarders or whether to buy the Kwacha as a safer haven store for value.
President Hichilema’s government is in the process of reworking as much as $17 billion in external public debt. He has submitted an endorsement request to the IMF as his administration advances talks with creditors from US$3 billion in Eurobond holders to US$5.8 billion owed to the Republic of China. …

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