zambia - The African Mirror

Apr

2024

Nigeria, Zambia women win playoffs to take last two Olympic spots

ZAMBIA and Nigeria locked up the last two spots in the women's soccer tournament at the Paris Olympics after winning two-legged playoffs in the fourth round of African qualifying. Zambia needed extra time to get past Morocco in Rabat as the Copper Queens turned a 2-1 first-leg deficit into a 3-2 aggregate triumph with a 2-0 win at Moulay Hassan Stadium. Captain and Orlando Pride striker Barbra Banda opened the scoring for Zambia in the 38th minute and secured the ticket to the Olympics when she converted a penalty in the 105th minute. The Zambians will be in a tough…

Apr

2024

By BONFACE ORUCHO, BIRD STORY AGENCY

Zambia’s arts and creative sector is thriving

ARTS AND ENTERTAINMENT

ZAMBIA’S recent unveiling of a National Arts and Revised Film Policy is evidence of the growing interest in increasing investment and fostering the growth of the arts and creative sector. Besides committing to invest close to US$100 million in the arts and film sector between 2024 and 2028, the policy commits to improving artists' welfare in a bid to promote talent by leveraging public-private partnerships. Munya Chidzonga, a Harare-based filmmaker and actor, believes the new policy “will certainly add value to the fiscus but, more importantly, to culture, and the preservation of national heritage.” Just like in many countries on…

Mar

2024

By JULIAN LUK and CHRIS MFULA

Zambia’s Chambishi copper smelter scales back capacity amid power cuts

BUSINESS

CHINA Nonferrous Metal Mining Corp's Chambishi Copper Smelter in Zambia has cut one-fifth of its production due to power shortages in the country, two sources with knowledge of the matter told Reuters. The plant, which produces about 250,000 metric tons of copper per year, is one of the biggest processing facilities in Africa's second-largest copper producer. Zambia generates about 87% of its electricity from hydropower, and lower water levels due to its current drought, the worst in two decades, have curbed power generation, the managing director of state-owned power utility Zesco said. Zesco said last week it would start rationing electricity supplies…

Feb

2024

By RACHEL SAVAGE and CHRIS MFULA

Zambia’s kwacha is Africa’s best-performing currency in 2024

BUSINESS

ZAMBIA'S kwacha is Africa's best-performing currency against the U.S. dollar so far this year after the central bank sharply tightened monetary policy, but analysts said it would strengthen sustainably only if the country attracts more foreign investment. The kwacha has rallied 13.8% to 22.8 against the greenback in 2024, according to LSEG data, after the central bank raised commercial banks' reserve ratios and then hiked interest rates earlier this month, in a bid to reverse a decline in the currency that had pushed up inflation. "The kwacha's performance this year has been remarkable," said Danny Greef, Co-Head of Africa at research firm…

Feb

2024

By BONFACE ORUCHO, BIRD STORY AGENCY

Zambia hits copper jackpot with AI-powered exploration

NEWS

ZAMBIA’S mineral portfolio has received a major boost thanks to the discovery of the largest copper deposits ever recorded in the country. In an official statement posted on the social media site X, on February 5, KoBold, an American startup backed by Bill Gates and Jeff Bezos, announced the discovery of vast copper deposits at their Mingomba mine in northern Zambia. “Mingomba will be one of the world’s biggest high-grade, large copper mines. It is Kakula-scale in size and the core of it is >5% copper,” KoBold President Josh Goldman shared in the post. He draws a correlation to the…

Feb

2024

By FELIX NJINI and VERONICA BROWN

Zambia set to negotiate bigger stakes in new mining projects

BUSINESS

ZAMBIA is keen to negotiate larger holdings in new mining projects to raise its revenue and boost spending by investors on social projects, mines minister Paul Kabuswe said. The push by Lusaka through state-owned ZCCM-IH would apply to future agreements, but does not include existing mines and should not unnerve investors, Kabuswe told Reuters. Zambia is Africa's second-largest copper producer after the neighbouring Democratic Republic of Congo. ZCCM has interests of 10% to 20% in mines including those owned by Barrick Gold, Vedanta Resources and First Quantum Minerals. ZCCM sold a 51% stake in Mopani Copper Mines to a unit of…

Jan

2024

By The African Mirror

Mother and son survive Zambia’s deadly cholera outbreak

NEWS

SANDRA Nyendwa used to drink unfiltered water in Zambia's capital Lusaka without concern, until she and her seven-year-old son got cholera in an outbreak sweeping the country. Both fell badly ill last week, joining more than 10,000 people infected by the disease that has killed at least 432 since October, according to government figures. Nyendwa's son complained of stomach pain, turned pale and started vomiting. When Nyendwa succumbed, her grandmother had to come in to look after the rest of the children. The whole family feared for their lives as medics cared for them in a clinic. But they both…

Jan

2024

By KANISHKA SINGH

US Treasury official discusses cholera outbreak, debt with Zambia minister

HEALTH

THE U.S. Treasury Department's top international official spoke with Zambia's finance minister and discussed Zambia's ongoing debt restructuring and its response to a recent cholera outbreak, the U.S. Treasury Department said. Zambia faces a major cholera outbreak that has killed at least 333 people since October, with over 8,000 cumulative cholera cases during this period, according to the website of the U.S. Embassy in Zambia. U.S. Treasury Under Secretary for International Affairs Jay Shambaugh reiterated the U.S. government's "commitment to partner with Zambia" to end the outbreak when he spoke to Zambian Finance Minister Situmbeko Musokotwane, according to the Treasury…

Dec

2023

By The African Mirror

Zambia’s 2012 hero Sunzu back for Cup of Nations finals

AFCON 2023

DEFENDER Stoppila Sunzu, who netted the decisive penalty when Zambia won the African Cup of Nations in 2012, returns for the next edition of the tournament after being named as one of the 27 players in his country’s squad for next month’s tournament in the Ivory Coast. Sunzu’s kick handed Zambia an 8-7 win on spot kicks over the heavily fancied Ivory Coast in the 2012 final in Libreville. He is one of only two players named on Saturday by coach Avram Grant who has previous finals experience. Iraq-based Roderick Kabwe was also in the squad on their last appearance…

Dec

2023

By NELSON BANYA and CHRIS MFULA

Abu Dhabi’s IRH to invest $1.1 bln in Zambia’s Mopani Copper Mines

BUSINESS

THE United Arab Emirates International Resources Holdings (IRH) will invest $1.1 billion in Zambia's Mopani Copper Mines in return for 51% ownership of the business, the state-owned ZCCM Investments Holdings (ZCCM-IH) said. Last month, Zambia picked IRH, a unit of Abu Dhabi's most valuable listed company, International Holdings Company (IHC), as the strategic equity partner in Mopani, which was coveted by several investors looking for copper assets. Zambia had been seeking a new investor for Mopani since it took control of the assets from Glencore in 2021 after agreeing to pay the Swiss commodities company $1.5 billion in a deal funded by debt.…