Zambia 19.10.2024

·         The government has approved the construction of another coal-fired power plant. This is the county’s third coal-fired power plant. They are hopeful this will help the country as it battles its power crisis following a record drought. https://www.bloomberg.com/news/articles/2024-10-16/zambia-approves-new-coal-power-plant-as-drought-saps-hydropower

·         Zambia’s economy is set for one of its worst years this century. The IMF expects the rate of inflation to continue accelerating. Last month it was up to 15.6%. https://www.bloomberg.com/news/articles/2024-10-17/imf-sees-drought-slashing-zambian-economic-growth-to-25-year-low

·         Manara Minerals (Saudia Arabia) is buying a minority stake in First Quantum minerals Zambian copper and nickel assets. https://www.reuters.com/markets/deals/saudis-manara-advanced-talks-buy-stake-first-quantums-zambian-mines-2024-10-16/