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Copper Trumps Politics as Investors Take Shine to Zambian Assets
LUSAKA (Capital Markets in Africa) Investors are overlooking Zambia’s political risk and buying the nation’s assets as the price of copper, its biggest export, rises. The yield on Zambia’s $1 billion Eurobonds due April 2024 have fallen 135 basis points this year to 7.55 percent on Wednesday. The southern African nation’s currency has appreciated 12 percent against the dollar in 2017, making the kwacha the continent’s best performer after Mozambique’s metical. Copper prices are at…
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