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Investment in Zambia: Emerging Opportunities

LAGOS (Capital Markets in Africa) – Zambia’s economy has experienced a turnaround following the recovery of commodity prices (especially copper), better rainfall resulting in greater agricultural and hydroelectricity output, strong central bank measures to stabilize the economy, and robust pro-business fiscal policies. Specifically, copper has risen from US$5,000/tonne to over US$7,000/tonne, the Bank of Zambia has lowered the policy rate from 15.5% to 9.75%, and government has removed fuel subsidies and increased electricity tariffs. Consequently,…

INTO AFRICA July 2018 Edition – Back on Track: African Mining

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Welcome to the July 2018 edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. This month’s edition, titled: Back on Track: African Mining explores emerging mining laws and regulations as well as opportunities across African countries and financing options for mining projects in Africa. Africa is rich in natural resources. It boasts of over 10% of world reserves of oil, about 40% ofgold, 90%…

Copperbelt Energy of Zambia Eyes $250 Million Power Investment

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LUSAKA (Capital Markets in Africa) – Copperbelt Energy Corp., the Zambian electricity supplier with customers including Glencore Plc’s copper mines, may invest as much as $250 million in solar projects and transmission lines in the neighbouring Democratic Republic of Congo, Chief Executive Officer Owen Silavwe said. The amount includes two solar plants to generate 30 megawatts and 50 megawatts respectively, and the company is still determining their feasibility, he said Tuesday in an interview on the sidelines…

Moody’s changes outlook on Zambia’s B3 rating to stable from negative, affirms rating

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London (Capital Markets in Africa) – Moody’s Investors Service, (“Moody’s”) has today changed the rating outlook for the Government of Zambia to stable from negative and affirmed its B3 long-term issuer rating. The stable outlook reflects reduced government liquidity pressures and a slowdown in government debt accumulation which Moody’s expects to continue. The B3 rating balances a strong growth potential boosted by ample natural resources and a young and growing population against continuing credit challenges…

Israeli Investor Said to Withdraw Zambia Mining Stake Bid

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LUSAKA (Capital Markets in Africa) – Sapir Capital, an Israeli private-equity firm, has withdrawn an offer to buy a stake in Zambia’s state-owned mining holding company for more than $100 million, according to two people familiar with the situation. Sapir canceled the offer after delays in the transaction but is still in informal talks with the government over a potential deal, said one of the people, who asked not to be identified as the information isn’t…

Bond Winners of Yesteryear Not Looking So Fantastic in 2017

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LAGOS (Capital Markets in Africa ) – Developing-nation debt traders who stuck with 2016’s top securities took a hit this year. That’s because last year’s best emerging-market dollar bond bets are posting the starkest reversals. Venezuela, Ecuador and Gabon, which led the pack in 2016, had some of the worst changes, according to data compiled by Bloomberg on debt from 69 developing nations. Meanwhile, last year’s laggards, Mozambique and Suriname, have had the best improvements. “As the…

Debt Management Should Be Priority for Zambia, Kalyalya Says

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LUSAKA (Capital Markets in Africa) – Zambia must prioritize its debt management to protect the economy from a surge in borrowing costs, central bank Governor Denny Kalyalya said. “That’s one area that we really need to put a hand on so that it doesn’t overheat the economy,” Kalyalya said in an interview Wednesday in Washington. “If that happens then all these interest rates we’re talking about will go up very significantly.” Ballooning debt levels are key to negotiations…

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