Mining Sector Recovery Boosts Kwacha and Investor Confidence in Zambia
The Advocates for National Development and Democracy (ANDD) say Zambia’s ongoing mining sector reforms are beginning to positively impact the economy, citing the recent appreciation of the Kwacha against the US dollar.
ANDD Executive Director Samuel Banda attributed the currency’s recent rise to around 26.7 Kwacha per dollar in part to increased copper production.
He praised recent progress in the mining industry, particularly the developments at Konkola Copper Mines (KCM), and commended Vedanta Resources for its commitment to clearing KCM’s legacy debts and outstanding payments to suppliers.
Vedanta has confirmed plans to raise capital and gradually ramp up copper production to 300,000 metric tons annually in the coming years.
Banda noted that these steps are critical to restoring economic stability and investor confidence in Zambia. He also urged mining sector stakeholders—including contractors and suppliers—to uphold high standards of professionalism and diligence.
Governance expert Wesley Miyanda echoed the sentiment, applauding President Hakainde Hichilema’s New Dawn government for efforts to ensure Zambians benefit from mining activities.
He highlighted the positive impact of tax incentives and initiatives aimed at connecting citizens to investment opportunities.
