Economy - Copperbelt Katanga Mining

DRC’s Inflation Rate Hits 9.2% as of June 16, 2023

June 23, 2023June 23, 2023 Constance

As of June 16, 2023, the inflation rate had reached 9.2% year-to-date, mainly reflecting the rise in food prices due in part to that of imports. This is the observation made by the Monetary Policy Committee (CPM) at the end of a meeting held on Monday, June 19, 2023, under the leadership of Mrs. Kabedi Malangu, Governor of the Central Bank of Congo (BCC). According to the same source, the inflation rate should reach 11.5% in December 2023. However, this outlook is down from 13.1% in 2022. It should be… Read More Here

Mining in Zambia Economy

Zambia Makes Breakthrough in Debt Restructuring Agreement with Bilateral Lenders

June 22, 2023June 22, 2023 Constance

In a significant stride towards resolving its financial challenges, Zambia has achieved a remarkable breakthrough by reaching an agreement in principle to restructure a substantial $6.3 billion debt with bilateral lenders. A French official has confirmed that the much-anticipated deal will be officially announced on Thursday June 22, marking a pivotal moment for countries facing difficulties in servicing their liabilities. This groundbreaking agreement sets an inspiring precedent as the first major relief obtained by a developing nation under the Group of 20 (G20) nation’s Common Framework. While specific details are… Read More Here

Mining in Zambia Economy

Zambia’s Beneficial Ownership Law: Towards Mining Sector Transparency

June 22, 2023June 25, 2023 Constance

Zambia’s mining sector serves as a critical pillar of its economy, offering immense potential for growth and development. However, the sector has been plagued by challenges such as opacity, corruption, and illicit financial flows. Recognizing the need for enhanced transparency and accountability as a strategy towards increasing chances of curbing illicit financial flows, Zambia through the Companies Act of 2017 introduced beneficial ownership requirements for all companies registered in Zambia through the creation of a centralized and public beneficial ownership register at the Patents and Companies Registration Agency (PACRA). In… Read More Here

Mining in Zambia Economy

Unveiling the Hidden Wealth: The Benefits of Mining in Zambia

June 22, 2023June 22, 2023 Constance

Zambia, a country blessed with abundant natural resources, has emerged as a significant player in the global mining industry. With its vast mineral reserves and favorable investment climate, the mining sector in Zambia has become a vital pillar of the nation’s economy. In this article, we explore the multifaceted benefits of mining in Zambia, shedding light on how it contributes to economic growth, employment opportunities, infrastructure development, and social welfare. Economic Growth and Foreign Investment:Mining plays a pivotal role in driving economic growth in Zambia. The sector contributes a substantial… Read More Here

Mining in DRC Cobalt Economy

Cobalt Plunges to New Lows in DRC’s Mining Sector

June 17, 2023June 17, 2023 Constance

While the general trend of the main mining export products of the Democratic Republic of the Congo is on the rise, cobalt continues its descent into hell during this week from June 12 to 17, 2023, according to Commission projections. National Mercuriales of the Ministry of Foreign Trade. Cobalt therefore maintains its downward trend this week at 28,838 USD per tonne against 29,239 USD per tonne last week, i.e. a negative price difference of 401 USD. Copper is up this week at 8,294.65 USD per tonne against 8,044.30 USD per… Read More Here

Gold Economy International

Discover the Wealth: Unveiling Africa’s Top 10 Nations with Vast Gold Reserves

June 11, 2023June 11, 2023 Constance

African Countries Bolster Gold Reserves Amid Global Uncertainty. In recent years, African countries have taken significant steps to strengthen their gold reserves, positioning themselves favourably amidst global economic uncertainty. As geopolitical tensions and inflation concerns persist, the allure of gold as a safe-haven asset has intensified. Let’s explore the top 10 African countries with the largest gold holdings in 2023. Topping the list is Algeria, boasting the largest gold reserves on the continent, with a robust holding of 174 metric tons. South Africa closely follows, with official gold reserves reaching… Read More Here

Economy

World Bank Supports Angolan MSMEs via $300M Project

June 8, 2023June 8, 2023 Constance

The World Bank has officially launched its Accelerating Economic Diversification and Job Creation Project in Angola, an initiative that creates opportunities for micro, small and medium enterprises (MSME) across various strategic areas of the economy. Comprising a $300 million capital injection that aims to promote economic diversification and private sector investment, the project is expected to advance the participation of local entrepreneurs and businesses in the Lobito Corridor by facilitating private investment and climate-resilient growth. The Lobito Corridor is a strategic trade route that crosses Angola, connecting the mining areas of Katanga… Read More Here

Mining in DRC Economy

DRC’s Business Climate Showing Signs of Positive Growth

June 8, 2023June 8, 2023 Constance

The Head of State, Félix Tshisekedi, chaired, this Tuesday, June 6 at the City of the African Union, the ceremony to present the results of the first survey of the National Business Climate Barometer (BNCA). This report shows that the business climate in the DRC is improving. At this stage, the BNCA gives him a satisfaction score of 37%. This survey, which took place from January 24 to March 27, 2023, covered 403 companies in 13 sectors of the national economy. The Head of State hailed the quality of the work carried… Read More Here

Mining in DRC Economy

Nicolas Kazadi: DRC’s New Partnership with China to Revise Mining Agreements

June 7, 2023June 7, 2023 Constance

For the Congolese Head of State, Félix Tshisekedi, his state visit carried out at the invitation of his counterpart, the President of the People’s Republic of China Xi Jinping in Beijing, capital of China from May 24 to 29, 2023, was an opportunity to review the state of the historical relations and friendship which have bound the two States for 51 years and to promote their transformation towards a partnership of strategic and global cooperation by agreeing together, with a view to effective materialization, the revitalization of the China-Democratic Republic… Read More Here

Mining in DRC Economy

Exploring the DRC’s Mining Potential

June 5, 2023June 5, 2023 Constance

With an estimated US$24 trillion in untapped deposits of cobalt, diamonds, gold, copper, and other minerals, the Democratic Republic of Congo (DRC) emerges as a key investment destination, attracting a multitude of companies operating across the country. As the world’s largest producer of copper, the DRC possesses some of the richest copper belts globally. It also takes the crown as the biggest producer of cobalt and the second-largest producer of diamonds. Additionally, the country boasts abundant reserves of gold, zinc, tin, and potash. Mining in the DRC encompasses both large… Read More Here