Browsing: Zambia

• Lithium battery industry to grow over 30 percent annually from 2022 to 2030
• Market value for lithium batteries to exceed US$400 billion by 2030
• DRC, Zambia and Tanzania looking to refine cobalt, manufacture lithium batteries

The sale of Electric Vehicles (EVs) is booming in the transport industry of the developed world, and now Africa wants in.

Rather than continue to supply raw materials for the making of the electric vehicle, countries like DRC, Zambia, and Tanzania, want to refine the ores and even manufacture the final product, lithium batteries.

Their ambitions are well placed because the lithium battery industry is booming and will only keep growing. A 2022 analysis by the McKinsey Battery Insights team projected that the entire lithium-ion battery chain, from mining through recycling, could grow by over 30 percent annually by 2030 when it would reach a value of more than US$400 billion.

“Batteries for mobility applications, …

• The United States has been working to increase its economic and political engagement with Africa in recent years.
• Yellen arrived in Dakar, fresh off a nearly three-hour meeting with China’s vice premier Liu He.
• The Biden administration is trying to counter China’s growing influence and infrastructure in the region by offering African countries an alternative path on economic and political security

US-Africa relations have been on the rise in recent years, and the recent visit by US Treasury Secretary Janet Yellen to Senegal has further solidified the commitment of the United States to expand economic opportunities for all in Africa.

Yellen’s visit to Senegal, which took place on January 18, 2023, was a clear demonstration of the importance the United States places on its relationship with Africa. During her visit, Yellen met with young entrepreneurs and business leaders, and delivered a speech emphasizing the potential of Africa’s young entrepreneurs and …

Halwampa said ZDA anticipates to increase its performance next quarter through the prospected revision and enactment of the ZDA, and the Investment Trade and Business Development bills into law which will support domestic investment, trade and business development in Zambia.

He further added that the implementation of the US$50, 000 thresholds for local investors will attract local investors to come on board to invest in their own country.

Halwampa has since called on local investors to take interest in investing in the southern African country and take advantage of the favourable environment which government has created to support local investors.…

New Zimbabwe went on to report that the court ruled that in the case of First Merchant Bank failing to reimburse Shah and his company, the Bank of Zambia was held liable and, in the alternative, the Attorney General was ordered to pay if the funds could not be found. The culmination of this dispute is that Shah and his company are in for a particularly large windfall of cash. The reclusive Indian business tycoon is said to have business interests in Zimbabwe, Zambia, and India.

Despite his wins in business Jayesh Shah has never successfully shaken off the controversy that comes from the notable success a person enjoys in any endeavour. Success always breeds as many admirers as it does critics. Tendai Biti, who was Zimbabwe’s finance minister at one time during the Government of National Unity, called Jayesh Shah a “loan shark of Indian descent”.

The opposition leader …

The fastest growing export markets for raw copper of Zambia between 2019 and 2020 were Singapore (US$325 million), Switzerland (US$119 million), and Namibia (US$105 million).

Lowering mining energy tariffs would further help to restore the competitiveness of Zambia’s copper exports, and Zambia’s Chamber of Mines has been arguing for this too.

The outcome of debt restructuring with international creditors and negotiations for a new IMF programme are likely to determine how quickly and confidently the government can move ahead with such reforms.…

Zambia has dealt with the legacy of years of economic mismanagement, with an especially inefficient public investment drive.  Zambia has been in debt distress. Therefore, the country needed a deep and comprehensive debt treatment to place public debt on a sustainable path.…

ZICTA has since reiterated that the members of the public should at all costs desist from buying already registered SIM cards as such is against the law and anyone found wanting risks being prosecuted.

Chaaba revealed that so far, ZICTA has encountered situations where innocent people have been implicated in investigations due to owning SIM cards that were once used by criminals.

ZICTA confirmed with Zambian Business Times that the SIM cards that will not be claimed within 90 days after deactivation will be allocated to other new users. The Authority has since appealed to members of the public to take time to regularise their SIM card registration to avoid losing their contact numbers and for the country to have a clean database.…

Last week, the biggest power generation plant in Zimbabwe, Kariba South, was generating only 758MW against an installed capacity of 1 050MW.

Hwange Power Station was generating 411MW against an installed capacity of 920MW.

Completing Unit 7 in November this year and Unit 8 at Hwange Power Station by March next year will add 600MW to the grid and help ensure reliable and sustainable supplies to meet growing demand.

Meanwhile, ZESA can now legally incorporate drones in its service delivery. This announcement was made at an event the national power company held to mark its acquisition of a Remotely Piloted Aircraft Operator’s Certificate (ROC).…

Zambia is Africa’s largest copper producer, which is one of the reasons it has one of the strongest currencies on the continent. The country possesses abundant natural resources, and because copper is the most prevalent metal, copper mining is carried out on a massive scale. This provides Zambia with a significant rise in foreign currency earnings from the sale of metals to other countries.

Bscholarly notes that the value of a currency is significant because it determines the economic performance of a country. This has a direct impact on a currency’s demand on the global market. Exchange rates compare one currency to another and provide an overview of a currency’s strength in the global marketplace. According to financial analysts, factors like interest rates, economic policies, and stability determine the strength of any currency.

Mining liberalization, a debt restructuring programme following default on debt repayments in 2020, and high commodity prices …