Finance and National Planning Minister, Situmbeko Musokotwane, has expressed optimism that Zambia can generate about US$30 million annually in export revenue once the country reaches its target of producing three million tonnes of copper.

Speaking at the recent Economics Association of Zambia (EAZ) national economic summit in Lusaka, Musokotwane outlined the government’s plans for the mining sector.

Musokotwane projected that Zambia would produce around one million tonnes of copper by 2027, supported by favorable policies in the mining sector.

He explained that with the current market prices, producing three million tonnes of copper could yield approximately $30 million per year in export revenue.

“Beyond this, we are encouraging value addition. The mines must start making certain quantities of copper available for value addition locally,” Musokotwane said.

Read more: Musokotwane challenges economic experts to be credible, unbiased

He said the temporary challenges of drought should not be confused with the overall performance of the economy, asserting that the country’s economy would be the strongest ever in the next two to three years.

Musokotwane noted that Zambia’s copper production had stagnated between 600,000 and 800,000 tonnes per year over the past 60 years due to a lack of investment in the mining sector.

However, he highlighted that the government had implemented various policies to encourage increased production, aiming for an ambitious target of three million tonnes of copper.

“The issue of drought is temporary and mining is a long-term investment. The impact will start to set in over the next two to three years, but we will already see benefits starting next year,” Musokotwane stated.

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The Ministry of Mines and Minerals Development says it has embarked on a US$98 million 18-month rocks and minerals survey in Zambia, prioritising Western Province.

Director of Geological Survey, Gerald Mwila, explained that the survey was being carried out using aircraft by a South Africa-based company, Excalibur Multi-Physics, the government engaged for the work.

Mwila disclosed this during the ministry’s sensitisation meeting in Mongu at the Weekend which focus area was to orient heads of departments on its operations.

“The ministry has zoned the country according to priority areas and deliberately started with Western Province because of inadequate knowledge of the minerals in the region hence an interest in finding out what is there,” he said in a statement issued in Lusa.

Mwila noted that the ministry had carried out a lot of mineral surveys and was also renewing its mineral areas inventory.

The ministry, he said, also wanted to acquire data to efficiently advise the Provincial Administration and the Barotse Royal Establishment on what is pertaining on the ground in the region.

“We want after gathering data of the mineral situation in the country to be able to advise prospective miners who would want to carry out mineral exploration in the country,” Mwila said.

Read more: Zambia’s leading mining firm, FQM, hit by power crisis

Western Province Deputy Permanent Secretary, Richard Mulwanda, said his office appreciated the message that the ministry brought, as they needed to be aware so that both parties would move in tandem.

Mulwanda said he was optimistic that a lot would come out of the mineral survey and wanted to see how best the outcome could be utilised to benefit the Province.

“I am sure that something will come out of the survey and I want to see how best we shall utilise what will come out of the survey,” he said.

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President Hakainde Hichilema has said one of the challenges he is currently facing is to get government workers to do their job.

In reference to delay by chiefs to get their monthly allowances on time, Hichilema wondered why it was difficult for public workers to issue the funds at the right time.

The Head of State was speaking when he met 26 chiefs at Senior Chief Shakumbila’s palace in Shibuyunji District on Sunday.

Read more: President Hichilema reaffirms stance against corruption

“I have issued instructions that those allowances must be paid on time. When public service workers get paid, traditional leaders must be paid as well.

“Why should there be a difference? But one of the challenges I am facing is getting government workers to do their job. This is not a complicated issue, so we will work on that anomaly,” he said.

Hichilema, therefore, issued a directive to ensure that all chiefs were getting their allowances at the same time as public service workers receive their monthly salaries.

Hichilema said he had been informed of the delay in the chiefs’ allowances and assured them that the anomaly would be corrected. “I have been made aware that your allowances have been delayed. It is not correct.

Actually, we should be talking about increasing your allowances, not delaying the small allowances,” he said.

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The African Development Bank Group (AfDB) president, Akinwumi Adesina, has reportedly outlined the Bank’s successes in mobilising financial resources for the continent’s development needs.

Adesina highlighted in a statement issued on Sunday that the Bank’s recent general capital has increased from US$201 billion to US$318 billion, as approved by the Board of Governors during its annual meetings in Nairobi last May.

The approval would enable Africa’s only AAA-rated financial institution to preserve its status and meet the continent’s urgent and increasing development needs.

He said this when addressing Heads of State and government at the sixth Mid-Year Coordination Meeting of the African Union (AU) on Saturday in Ghana.

Read more: AfDB says Zambia needs $3.5 billion annually for its structural transformation

Other highlights included joint efforts by the AfDB and the Inter-American Development Bank in developing a new financial model that enables the International Monetary Fund’s Special Drawing Rights to be channelled through multilateral development banks.

“I am delighted to inform you that following over two years of work, supported by the advocacy of the African Union, we succeeded,” Adesina told the meeting, attended by several Heads of State and government and representatives of regional economic communities.

“By so doing, we created a new asset class for investors globally. The hybrid capital will be leveraged four times to allow the Bank to boost its lending capacity,” Adesina said.

He also briefed the leaders about the progress the Bank is making in spearheading global efforts to ensure Africa’s natural wealth is taken into consideration as a measure of Gross Domestic Product.

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The government has called on the Economics Association of Zambia (EAZ) to provide credible and unbiased solutions to the country’s economic challenges.

Finance and National Planning Minister, Situmbeko Musokotwane, made this call at the EAZ National Economic Summit on Friday in Lusaka.

Musokotwane said that experts could offer the needed solutions by equipping themselves with knowledge and information.

“When there is an economic issue, people look forward to hearing from experts like you. Most people want to hear information on critical economic issues from professionals with a neutral, non-political view so they can be better informed,” he said.

Read more: Finance Minister, Musokotwane, presents K41.9 billion revised budget, as govt targets most vulnerable

Musokotwane highlighted that hosting the summit would help EAZ reset itself to gain professional respect, a responsibility that comes with being well-informed and unbiased.

“You need to ensure that you are armed with knowledge and information so that the opinions you offer are sound and unbiased. This is because people believe in EAZ to provide the most professional view. I am happy that you have chosen to bring the association to professionalism,” Musokotwane said.

He reiterated the importance of the EAZ in providing guidance on economic matters, urging the association to rise to the occasion by maintaining integrity and professionalism.

The summit, which brought together various stakeholders, aimed to address pressing economic issues and find viable solutions for the country’s economic growth and stability.

Musokotwane concluded by expressing confidence in the EAZ’s ability to influence positive change and contribute to Zambia’s economic development.

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Government says plans for Zambia to start importing fuel from Angola are underway, with discussions between the two countries reaching an advanced stage.

Ministry of Energy Director Petroleum, Rodney Kalota, said this at an Economic Dialogue Forum on the Fuel Price Model in the country, organised by the Zambia Chamber of Commerce and Industry (ZACCI).

During the forum on Wednesday in Lusaka, Kalota revealed that there was active engagement between the two governments to ensure that Zambia started importing fuel from Angola.

He was responding to questions from participants asking if there were any plans for Zambia to start importing the commodity from Angola as it was closer to the country, lowering the prices.

Read more: Fuel in historical high, as petrol to sell K35.56, diesel K29.60 in May

“I can confirm there are active engagements between the governments of Zambia and Angola. Just last month, the Minister of Energy was in Angola to peruse and further those discussions.

“I can indeed confirm that engagements are there and we hope that sooner than rather we will be able to lead something that may be of benefit to the country,” he said.

Meanwhile, Kalota said government was committed to having wide consultations with stakeholders in the energy sector on the various challenges being experienced.

He said there were a lot of consultations going on in the petroleum sector. “So, before we firm up, we want to make sure that the decision we arrive at will be fair to all the players.

Suffice to say, the industry is large. The consultation we do is what helps us to drive convergence and be able to keep everyone sustained.

“Yes, there are many complaints from the industry that we are strangling them but when you see the service stations opening up, the perception it gives you is totally different, but we still want to build convenience.

“It is a very hard sector to work in but it calls for calmness, consultation and making sure that we still work together and reach an agreement,” Kalota said.

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The World Bank’s latest Food Security Update reveals that an estimated 73 million people in East and Southern Africa are projected to face food insecurity by December 2024, with Zambia at risk of famine.

Key hotspots included Sudan (16 million), Ethiopia (12 million), South Sudan (eight million) and Somalia (3.5 million).

The report highlighted significant challenges in Sudan, where escalating conflicts between the Sudan Armed Forces and the Rapid Support Forces have led to massive displacement, civilian casualties and further loss of livelihoods amid deteriorating economic conditions, particularly in North Darfur.

According to the Sudan Mobility Update, nearly 10 million people are now internally displaced, and refugee outflows reached approximately 2.1 million by the end of May.

Read more: Govt extends emergency cash transfer to aid drought affected districts

The number of people facing Catastrophe conditions is expected to rise significantly towards the peak of the lean season (August/September) in areas heavily affected by displacement and conflict.

In Ethiopia, the update notes that food insecurity outcomes are ongoing and expected to persist through September in many areas of northern Ethiopia and parts of the pastoral south and southeast due to continued humanitarian food assistance.

However, emergency conditions are anticipated in households with limited access to humanitarian aid.

The World Bank underscores the urgent need for sustained and increased humanitarian assistance to mitigate the worsening food insecurity crisis in these regions.

The situation is compounded by multiple factors, including armed conflict, economic instability, and climate-related shocks, which collectively exacerbate the vulnerability of millions of people.

This alarming projection calls for immediate and coordinated action from international agencies, governments and local organizations to address the root causes of food insecurity and provide critical support to affected populations.

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ADDIS ABABA – Rescuers, aided by drones, continued a desperate search on Wednesday for possible survivors of devastating landslides in southern Ethiopia that have killed 229 people and affected thousands more.

Humanitarian agencies are scrambling to rush emergency relief to the stricken community, the deadliest such incident ever recorded in Ethiopia, a country highly vulnerable to climate-related disasters.

About 14,000 people need to be urgently evacuated from the area due to the risk of further landslides, according to The New Indian Express.

Local residents have been using shovels and their bare hands to dig through vast mounds of mud in Kencho Shacha Gozdi, a hard-to-access locality in South Ethiopia, hundreds of kilometers from the capital Addis Ababa.

The Gofa Zone Communications Affairs Department confirmed Tuesday that 148 men and 81 women have died in the disaster, which struck the remote and mountainous area.

Senait Solomon, head of communications for the South Ethiopia regional government, said eight people had been pulled from the mud alive and taken to medical facilities for treatment.

The number of people still missing is unknown.

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The Energy Regulation Board (ERB) is currently reviewing a new fuel pricing model that addresses concerns raised by consumers and Oil Marketing Companies (OMCs) regarding fuel pricing.

ERB Director of Economic Regulations, Alfred Mwila, announced that the Import Parity Pricing Model was under constant review by stakeholders.

The goal is to balance consumer interests with the business needs of OMCs.

Mwila made these remarks on Wednesday in Lusaka during an Economic Dialogue Forum on the Fuel Price Model in Zambia, organized by the Zambia Chamber of Commerce and Industry (ZACCI).

This initiative aimed to address key policy, regulatory, and operational challenges in Zambia’s energy sector.

Read more: Corporate games throw up Banda as new ERB board chairman, after weeks of upheavals

Mwila stated the importance of a responsive pricing model.

“Our aim is to provide a robust and responsive pricing model.

“The Import Parity Pricing Model is undergoing thorough scrutiny because it is intended to become law. A consultative process is crucial, as once it becomes law, it will be in effect for a long time,” he said.

During the meeting, OMCs urged the government to address the disparities between the actual cost of importing fuel and the prices set by the ERB.

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Cynhia Bowa, Charge’ d’Affaires at the Zambian Embassy in Tokyo, has underscored the importance of investing in agriculture, particularly in rice farming, to improve food security in Zambia. 

Speaking at the bid opening ceremony for a JICA grant-funded project, Bowa emphasized that the over US$7 million initiative aligned with Zambia’s Eighth National Development Plan (8NDP) and aims to enhance food security and create employment through value addition.

The project, focused on developing rice seed production fields and training facilities at the Zambia Agriculture Research Institute (ZARI) Mansa Research Station, is expected to benefit 1,800 people within the first three years, boosting rural employment and aiding poverty reduction. 

Bowa highlighted that it would also contribute to infrastructure development, climate resilience, and advanced research in rice production.

Taku Mori, President of NTC International Company Limited, expressed gratitude to the bid participants and addressed issues from the previous bid attempt in December 2023. 

Mori explained that a review led to adjustments in the project, including splitting the bidding into construction and equipment procurement contracts to facilitate smoother implementation.

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