Zambia

Zambian Copper Mines Parched for Power Find an Unlikely Savior

3 months ago

In Zambia's rich copper region, something quite absurd is unfolding: local mines are fighting for survival due to a lack of electricity. However, a solution has emerged from an unexpected source. Instead of conventional power supplies, Zambian mines discovered a sort of "savior" in alternative energy sources.

Zambia Aims for World Bank Funds to Address Drought Crisis by Year-End

3 months ago

Zambia, facing the dire consequences of climate change, is actively working towards securing funding from the World Bank to combat the catastrophic effects of drought. President Hakainde Hichilema announced that the government is hopeful to obtain the necessary funding within the current year to effectively deal with food shortages and support local farmers.

Zambia Aims for Dedollarization: A Focus on Strengthening Local Currency

3 months ago

The Central Bank of Zambia has announced that it is intensifying its dedollarization strategy aimed at supporting the national currency, the kwacha. In recent years, the country has relied heavily on the US dollar, which has jeopardized economic stability. In its latest reports, the regulator emphasized the need to reduce this dependence and transition towards a more sustainable financial system.

Inflation Surge: Zambia Faces 32-Month High in Food Prices

3 months ago

A recent report on Zambia's economic situation indicates that inflation has reached a 32-month high, primarily due to soaring food prices. For many families in the country, this has resulted in significant hardships and escalating poverty.

Zambia's Central Bank Holds Rate at 9.0% for the First Time in Almost Two Years

4 months ago

The Central Bank of Zambia has decided to maintain the key interest rate at 9.0%, marking the first such action in nearly two years. This decision was made during a monetary policy committee meeting held on Thursday. The regulator noted that the country's economy is showing signs of resilience, despite some ongoing challenges.