Economy - Copperbelt Katanga Mining

Unleashing Africa’s Resource Potential

May 14, 2023May 15, 2023 Constance

According to a recent World Bank report titled “Africa’s Resource Future,” released on Friday 12th May, African countries are currently capturing only about 40 percent of the revenue they could potentially derive from their abundant natural resources. This situation is exacerbated by slow economic growth and high levels of debt. However, by adopting a better policy mix, implementing reforms, improving tax administration, and promoting good governance, these nations have the potential to more than double their revenues from minerals, oil, and gas. Full taxation of natural resources is crucial not… Read More Here

International Economy

Africa’s economic growth to outpace global forecast in 2023-2024 – African Development Bank biannual report

January 22, 2023January 22, 2023 Copperbelt Katanga News

L-R: AfDB President Dr. Akinwumi Adesina, Niale Kaba, Minister of Planning and Development of Côte d’Ivoire, and Prof. Kevin Urama, Acting Chief Economist and Vice President at AfDB, at the Abidjan launch of the 2023 Africa’s Macroeconomic Performance and Outlook Africa is set to outperform the rest of the world in economic growth over the next two years, with real gross domestic product (GDP) averaging around 4% in 2023 and 2024. This is higher than projected global averages of 2.7% and 3.2%, the African Development Bank Group said in Africa’s Macroeconomic… Read More Here

Economy Mining in DRC

The DRC accelerates the process of launching its development bank

January 1, 2023January 1, 2023 arnbethnic

The Ministry of Finance has entrusted the FINACTU Group with the mission of supporting it in the operationalization of the Development Bank of the DRC. This Bank will aim to support the growth of the national economy by improving access to financing for Congolese companies and financing structuring public and private projects. It will make it possible to act on the consolidation of the role of the State in the creation of an ecosystem capable of making a real contribution to the development of the country. Founded in 1999, FINACTU – made… Read More Here

Governance Economy

The DRC industrialization master plan amounts to 58.4 billion USD – Julien Paluku

December 12, 2022December 12, 2022 arnbethnic

The Industrialization Master Plan for the Democratic Republic of Congo amounts to 58.4 billion US dollars (USD). This was stated by the Congolese Minister of Industry, Julien Paluku, on Wednesday, December 7, 2022, in the various panels and “B2B” of the 4th German-African Business Summit in Johannesburg, South Africa (RSA). In front of the German Vice-Chancellor, the Ministers of Economy, Trade and Climate as well as the management staff of the German Chamber of Commerce and Industry headed by Peter Adrian,investors the different opportunities that offers the DRC in various fields… Read More Here

Economy Mining in Zambia

ZCCM-IH Shareholders in K85.2 million Dividend Payout

December 9, 2022December 9, 2022 arnbethnic

09th December 2022, Lusaka, Zambia: Shareholders of ZCCM Investments Holdings Plc (ZCCM-IH) have approved an K85.3 million dividend at K0.53 per share during the 18th Annual General Meeting held today virtually. This follows a Group profit of K2.1 billion (compared to K307 million in 2019)and a Company profit of K568 million (compared to K153 million in 2019) recorded for the 2020 financial year end. This represents 594% and 271% increase in profits compared to the previous year respectively. At the ZCCM-IH Group level, the recorded profit was on account of:… Read More Here

Economy Governance

Moody’s has raised the rating of the DRC

November 19, 2022November 19, 2022 arnbethnic

The financial rating agency Moody’s Investors Service on Friday raised the DRC’s rating from Caa1 to B3, outlook stable. The decision explains, the agency, is explained by the strengthening of the economic and budgetary prospects of the country favored by the institutional improvements supported by the program of the International Monetary Fund since July 2021. To this is added the good health of foreign exchange reserves. . “At the same time, the national ceilings in local currency (LC) and in foreign currency (FC) of the DRC have been raised to B2… Read More Here

Mining in DRC Economy Technology & Innovation

Julien Paluku calls on African countries to pool resources and migrate from import economies to local processing of natural resources

October 23, 2022October 23, 2022 arnbethnic

The work of the 8th edition of Rebranding Africa Forum ended on Friday, October 21, 2022 at the Parliament of the Wallonia Brussels Federation in Belgium. Focused on the implementation of investment attractiveness strategies by African countries, the Democratic Republic of Congo was represented by its Minister of Industry Julien Paluku Kahongya. On this occasion, Julien Paluku shared the experience of the Democratic Republic of Congo on the process of setting up a first manufacturing plant for electric battery precursors in the province of Haut-Katanga and setting up Economic Zones Specials… Read More Here

Economy Mining in DRC Taxes

No VAT collection on 38 basic necessities until April 2023 in DRC

October 23, 2022October 23, 2022 arnbethnic

After the Government of the Democratic Republic of Congo decided, on April 15, 2022, to suspend the collection of VAT on thirty-eight (38) basic necessities over a period of six months, the deadline has just expired. be pushed back to April 2023. According to a press release published by the Chief of Staff of the Prime Minister, Jean-Michel Sama Lukonde, the latter signed, on Saturday October 15, 2022, two Decrees suspending the collection of Value Added Tax (VAT) on certain products. first need. In accordance with these two Decrees of… Read More Here

Mining in Zambia Economy Mining Policy

Zambian Government will not forgo mining-generated revenues again

October 17, 2022October 17, 2022 arnbethnic

Government set out its plan to revive Zambia’s economy during last week’s Public Symposium on the 2023 National Budget, held on Monday 3 October 2022. Mining For Zambia shares the key takeaways. Having secured an IMF-supported program in September 2022 to assist with managing the country’s debt, growth is now at the top of Government’s agenda. Minister of Finance and National Planning, Hon. Dr. Situmbeko Musokotwane, said: “A Budget can be – and is – an instrument for economic growth. Growth is what is going to take us out of this poverty and generate money… Read More Here

Mining in Zambia Economy

Zambia’s 2023 Budget: A return to global norms

October 17, 2022October 17, 2022 Copperbelt Katanga News

Tax Partner at KPMG Zambia, Michael Phiri, unpacks the Budget measures designed to set in motion a mining-led economic recovery The dust has now settled since the announcement of the 2023 National Budget, during which the Minister of Finance set out the Government’s plan to revive Zambia’s economy. In this, the first in a series of exclusive interviews with financial, economic, and mining experts, Michael Phiri, Tax Partner at KPMG Zambia, sheds light on why certain Budget measures have been proposed, and how they will set in motion a mining-led economic recovery.… Read More Here