Africa: Swedfund Commits $14.7 million to Evolution II Energy Fund
Swedfund, Sweden’s development finance institution that supports companies in Africa, Asia, Latin America and Eastern Europe, has invested SEK 126m in the Evolution II Fund, which is focused on clean energy supply and resource efficiency in Sub-Saharan Africa. Evolution II invests in affordable, least-cost, low-carbon clean energy infrastructure projects and promotes growth in resource efficiency […]
Zambian economic growth to exceed 4% in 2018
The Zambian government expects economy to grow by more than 4 percent this year helped by the mining, agriculture and construction sectors, Finance Minister Margaret Mwanakatwe said. The southern African nation had initially targeted at least 5 percent growth this year, helped in part by higher commodity prices. Africa’s second-largest copper producer expects copper output […]
Zambia sacks Cuban Ambassador for backing new opposition party
The Zambian government has declared the Cuban Ambassador to the country personae non grata. On Saturday, Cuban Ambassador to Zambia, Nelson Pages Vilas, openly supported the newly launched opposition Socialist Party in Zambia. In what he described as revolutionary greetings, the Ambassador said his government was wishing the Socialist Party in Zambia all the best. […]
Zambia’s main opposition party seeks to impeach president Lungu
Zambia’s main opposition party, United Party for National Development (UPND), on Thursday filed a motion seeking the impeachment of President Edgar Lungu, the presidency said on Friday. The motion, which would be debated on March 28, was signed by a third of the 167-member Parliament of the southern African nation. Zambia’s constitution requires the support […]
AU launches world’s largest free-trade area, biggest economies out
Forty-four African countries on Wednesday launched a $3 trillion continental free-trade zone encompassing 1.2 billion people. But Nigeria and South Africa, the continent’s biggest economies did not sign up, diminishing its impact. The African Continental Free Trade Area (CFTA) is one of the bloc’s flagship projects. Nigerian President Muhammadu Buhari last week, called for more […]
Mining: Zambia uncovers $8bn tax scam
Zambia’s tax agency plans to conduct audits on all mining companies in the southern African nation, running back six years after uncovering that a prominent mining company has used a scam over a five year period to avoid paying $8bn tax. Dozens of mining companies operate in Zambia, Africa’s second largest copper producer. The Zambian […]
Climate Change: Zambia raises over $84 million from Green Climate Fund
The Green Climate Fund (GCF) has approved $84.5 million to support two projects in Zambia in the energy and agriculture sectors, state media reported. The southern African nation will spend $52.2 million out of the 84.5 million for the Zambia Renewable Energy Financing Framework supported by the African Development Bank (AfDB) while 32.3 million dollars […]
Indian telecom operator Airtel shapes Africa exit plan
India’s biggest mobile carrier Bharti Airtel Ltd, which owns telecom assets in 14 African countries, on Wednesday said it is looking at a potential initial public offering (IPO). Bharti Airtel International (Netherlands) BV said the discussion on feasibility of listing its shares on an “internationally recognized” exchange was still in preliminary stage. Bharti Airtel, which […]
Ethiopian Airlines to revamp Zambia’s carrier
Ethiopian Airlines on Tuesday said it had signed an agreement with the Zambian government to revamp the country’s ailing national carrier. According to the Addis Ababa-based carrier, the Government of Zambia will be the majority shareholder with 55% and Ethiopia will have 45% stakes in the airline. Ethiopia’s state-owned flag carrier signed a similar deal […]
Zambia-Cholera: church services & street vending banned, protests erupt
Residents in a slum in Lusaka, Zambia’s capital, are violently protesting over a regulation imposed to control the spread of a cholera epidemic in the Southern African nation. According to news portal Mwebantu, security forces operating in Kanyama have been forced to discharge tear gas after protesters started to throw stones and other projectiles at […]
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