This puts Africa in a particularly enviable position, as it holds over USD 30 trillion worth of rare earth minerals required for batteries and other equipment necessary for a complete green energy transition. The continent also has about 48% of the world’s manganese, 22% of natural graphite, 55% of the world’s cobalt deposits, and notable shares of nickel and lithium.

The Democratic Republic of Congo is responsible for 70% of global cobalt production. South Africa, Gabon, and Ghana produce 60% of global manganese.

But the arrangements from its colonial past still linger on in the African economy, as Western governments and corporations still view the continent as a mine to extract resources from rather than a genuine partner who can add value and create industrial products useful for the global economy.

No major international player is speaking about Africa using its wealth for internal economic transformation. Most just see it as an ore supplier. And though ore supplies will create a few jobs, it will continue to be an aftermath of colonialism. Africans desperately want to be a part of the refining, processing and manufacturing side of the supply chain.

Domestic plants could create thousands of jobs as opposed to the few hundred jobs offered through traditional resource extraction. Policymakers in Africa have long called for local beneficiation (value addition done on African soil). They want the critical minerals to be used for industrialisation at home and not just for global decarbonisation.

For example, Africa has $2.8 trillion worth of iron ore, which could be worth $25 trillion in steel if it adds value. The USD 834 billion in bauxite could be worth USD 15.4 trillion in aluminium with full processing.

Industrialisation is a matter of urgency for the continent as its population is exploding, with 30 million people born annually. Without manufacturing jobs, most of these young workers wouldn’t be able to land their first job. Building a mineral-to-manufacturing corridor will reduce Africa’s import bill by USD 16 billion annually.

Mining jobs in the DRC support over 100,000 people. In Namibia, there are 20,000 workers, and in Zambia, there are over 70,000. With value addition, millions more can enter the workforce.

The myriad nations of Africa cannot hope to bargain with the great European and American powers alone. It’s only through a grand union that they can even hope to negotiate a fair deal.

This is exactly why African Continent Free Trade Area (AfCFTA) is an important part of this equation. Without the AfCFTA coordinated policies on taxes, prices and beneficiation will be impossible. The exploitative bilateral deals which have stolen wealth from African mines will no longer hold in front of a unified front.

Africa has over 1.4 billion people, and the vast continent with so many people can make value addition seamless as opposed to a single country taking this route. For example, cross-border power grids could supply energy to all plants and make African companies competitive and sustainable.

This grand ambition is constrained by persistent challenges, including governance risks, infrastructure deficits, global resistance to domestic processing, and regulatory inconsistencies. But there is hope left, as reforms in Ghana (bauxite), Zambia (copper), and Kenya (digital licensing) indicate policy progress. America and Europe prefer or even incentivise processing on their own turf. But Africans must negotiate fair inclusion in the value chains if they are going to remain relevant in the 21st century.

Energy and sustainability are also a big headache. No mineral-based industrialisation is possible without reliable and clean power. Africans can explore several options for sustainable power refining, including green hydrogen, hydropower, and geothermal energy. Clean energy can be combined with mineral processing, particularly in East Africa, for a competitive edge.

The IEA says that lithium demand would be fivefold in 2040, and demands for cobalt and rare earth may rise by 50%-60%, with copper by about 30%-50%.

A deal without technology transfer, skill development, and joint ventures is not in Africa’s interest. According to AfCFTA, if the strategy is effective, African nations could increase their bargaining power to a level comparable to the GCC’s bargaining power at the height of oil production in the 20th century.

The post IF Insights: Rare earths emerge as Africa’s new leverage point appeared first on International Finance.

They’re the invisible backbone of our daily lives. Quiet but essential. They’re behind your power, your data, your food, your travel. Yet, for some reason, we rarely stop to think about them.

And while our dependence on them grows by the minute, what are the systems to mine and move them forward? Sluggish. Awkward. Often broken. You’ve got roads that fade into dust, ports that choke under pressure, rail lines that barely exist. Meanwhile, the countries sitting on these resources? Still struggling to connect with the global economy they could help fuel.

It’s not just a supply chain issue. It’s a development crisis, too. According to a bunch of leading analysts (the serious number-crunchers), we need around USD 5.3 trillion in investments by 2030 just to keep up with the mineral demand driven by decarbonisation and digital growth. Yeah, trillion with a “t.” And no, money alone won’t fix this. Not even close.

You could stumble upon the world’s richest copper deposit tomorrow, but if there’s no road to get there, no power to run machines, no water to support the operation, it’s pretty much just shiny dirt. Enter Saudi Arabia. And no, it’s not just an oil story anymore.

They’re diving into mining big time. Updated laws, serious infrastructure investments, geological mapping—you name it. But the boldest move? Creating the Future Minerals Forum (FMF). Forget the stiff, boring conference stereotype. FMF feels more like a living organism than an event.

FMF pulls together ministers, mining bosses, development banks, and even communities who were once ignored. Its goal is surprisingly simple: move away from the old “dig it and ship it” approach and towards a model that builds real, lasting value.

Let’s zoom in. One of FMF’s standout ideas is cross-border mineral corridors. Sounds technical, but it’s powerful. These are shared road, rail, energy, and water routes that tie together several countries sitting on mineral wealth. Seven such corridors have been mapped so far, five in Africa, two in Latin America. Real places. Real resources. Real possibilities.

Take the Lobito Corridor. It’s a 1,300-kilometre railway that cuts through Angola and Zambia, reaching into Congo’s mineral-heavy heart. On a map, it’s a line. In real life, it’s hope, an example of what’s possible when strategy, politics, and investment sync up for once.

Still, there’s no magic wand. Infrastructure is just one side of the dice. The other? Sustainability, fairness, and local development. That part’s tougher.

FMF isn’t dodging that complexity. In fact, it’s going straight into it. They’re teaming up with the World Bank to rethink how mining projects are funded. The aim is to make investments less risky, attractive, and ethical.

Because let’s be real. In a lot of places, it’s not that there aren’t enough minerals. It’s that no one wants to take the risk to build around them. And then come the human questions, the ones that sting a bit.

What happens to villagers when a lithium plant shows up next door? Who trains the next generation of workers? Will electricity from a mining site ever reach homes nearby? Or are those communities just left behind again? These aren’t throwaway questions. They need answers. And slowly, FMF is helping us get there.

Whether it’s tackling water issues in South America’s lithium triangle or figuring out how Congo and Zambia can share power grids for copper mining, the Forum is focusing on the stuff that actually matters.

Of course, it’s easy to roll your eyes at high-level events. There’s no shortage of grand speeches that fizzle out. But something about FMF feels different. It’s grounded. Gritty. A bit chaotic, maybe, but in a way that feels alive.

Because this isn’t about clean press releases. It’s about messy cooperation, slow wins, and people figuring things out together. And maybe that’s what makes it human. These minerals? They’re not just economic assets. They’re a reflection of whether we’ve learnt to do things better. Whether we can go from short-term digging to long-term building. From taking to truly sharing.

The time to build is now. This is about more than rocks. It’s about rewriting who gets to benefit from them. It’s about giving countries, especially in Africa, Asia, and Latin America, not just a line in someone else’s story but a full chapter of their own.

If we get the infrastructure right, the policies aligned, and the funding smarter, we won’t just be unlocking minerals. We’ll be unlocking futures. And yeah, next time someone brings up cobalt or tin? Maybe don’t zone out. Maybe lean in. There’s a lot more riding on it than most of us realise.

The post IF Insights: The future runs on minerals, not just oil or data appeared first on International Finance.

This analysis explores the renewed interest in SCDIs, evaluates their benefits and challenges, and considers the broader implications of their use in debt restructuring, drawing on recent examples from countries like Ukraine, Sri Lanka, and Zambia.

What Are State Contingent Debt Instruments?

State Contingent Debt Instruments (SCDIs) are a type of bond that links debt repayment conditions to specific economic or fiscal metrics. Unlike conventional bonds that offer a fixed interest rate and principal repayment schedule, SCDIs offer flexibility by tying repayments to variables like GDP growth, revenue from natural resources, or other economic performance indicators. SCDIs aim to balance the risk and reward for both borrowers and investors, offering potential gains when a country outperforms and relief when it underperforms.

The resurgence of SCDIs comes at a time when numerous countries are struggling with unsustainable debt burdens, worsened by global economic pressures, political instability, and the impact of COVID-19. The recent cases of Zambia, Ukraine, and Sri Lanka demonstrate both the potential of these instruments and the challenges they present.

Flexibility And Alignment With Economic Performance

SCDIs offer several advantages that make them an appealing tool for managing sovereign debt. Their primary advantage lies in their ability to align debt repayment obligations with a country’s economic performance. When a country’s economic conditions are favourable, payments can increase, thus rewarding investors for their risk.

Conversely, in times of economic distress, payments decrease, reducing pressure on the borrower. This flexibility can make SCDIs particularly useful for countries facing uncertain economic futures.

For instance, Zambia’s restructuring process incorporated SCDIs linked to the country’s economic performance, specifically its debt-carrying capacity, exports, and fiscal revenues. According to Zambia’s Ministry of Finance, these instruments provided immediate repayment relief while creating a conducive environment for economic development. This approach allowed Zambia to allocate resources toward essential public goods and services while meeting its debt obligations.

Ukraine also leveraged SCDIs during its wartime debt rework in August 2023, integrating GDP-linked bonds that incentivised investors with potential payouts if the economy grew faster than anticipated.

By using these flexible instruments, Ukraine managed to swiftly re-engage with bondholders, effectively bridging the gap between market expectations and economic realities. However, it should be noted that wartime economic forecasts are inherently unpredictable, which brings significant risks for both investors and the issuing country.

Complexity And Investor Reluctance

While SCDIs can be powerful tools for speeding up debt restructurings and providing much-needed economic relief, they are not without their challenges. The complexity of these instruments often makes them difficult for both issuers and investors to navigate. Investors may be deterred by the complicated nature of SCDIs, which can lead to increased borrowing costs for the issuing country.

One major issue with SCDIs is the potential for investor reluctance, especially regarding pricing and trading on secondary markets. History provides several cautionary tales. Argentina’s use of GDP-linked warrants in 2005 led to significant legal disputes, as hedge funds accused Buenos Aires of manipulating economic data to minimise payouts.

Similarly, Ukraine faced billions of dollars in obligations for GDP warrants that lacked a cap on investor payouts, creating substantial fiscal challenges. According to a report from the Bank for International Settlements (BIS), contingent instruments issued by Argentina, Greece, and Ukraine carried a “high and persistent” premium, ranging between 4.24% to 12.5% above standard bond yields, highlighting the risks perceived by investors.

A History Of Mixed Success

The concept of SCDIs is not new. Latin American countries first used these instruments in the form of Brady bonds during the late 1980s to manage the regional debt crisis. Since then, various countries have experimented with SCDIs, with mixed success.

Argentina’s GDP-linked warrants and Greece’s 2012 debt restructuring both included contingent instruments. While these instruments provided a reprieve from crippling debt obligations, they also introduced new complications in the form of legal disputes and elevated borrowing costs.

The mixed success of these historical examples reveals the importance of sound design and clear criteria for contingent debt instruments. The experiences of Argentina and Greece underscore the risks of flawed structuring, which can lead to disputes, market distrust, and adverse economic outcomes.

This historical context provides crucial lessons for countries like Sri Lanka and Zambia, which are looking to utilise SCDIs more robustly and transparently.

Sri Lanka’s Experiment With Macro-Linked Bonds

Sri Lanka’s recent decision to incorporate macro-linked bonds into its debt restructuring strategy is noteworthy. These bonds link debt repayments to performance indicators such as GDP growth, which allows the country to adjust both principal and interest payments based on economic performance.

Such an approach provides the Sri Lankan government with “breathing space” during periods of economic stress. This approach is still evolving, and its long-term success will largely depend on how well Sri Lanka’s economic growth aligns with IMF forecasts and how transparent the process is.

However, concerns have already been raised regarding the stronger-than-expected growth forecasts released by the Sri Lankan government. Analysts have questioned whether these optimistic projections could lead to an overestimation of the country’s ability to meet its repayment obligations, potentially resulting in fiscal strain if economic growth does not materialise as predicted.

Role Of International Institutions And Market Benchmarks

International financial institutions play a pivotal role in the success of SCDIs. The Global Sovereign Debt Roundtable—which brings together representatives from borrowing countries, private lenders, the World Bank, and the G20—has highlighted the potential of SCDIs to address the rising number of sovereign debt defaults. By fostering dialogue between all stakeholders, the Roundtable aims to create a framework that can make these complex instruments more accessible and beneficial.

One of the significant challenges that new SCDIs must overcome is ensuring their eligibility for inclusion in major financial benchmarks like JPMorgan’s Emerging Market Bond Index (EMBI). Instruments that fail to qualify for these benchmarks may struggle to attract investor interest, thereby driving up borrowing costs.

Zambia’s recently issued SCDI, linked to its debt carrying capacity, exports, and fiscal revenues, aims to meet benchmark eligibility to keep borrowing costs manageable. By relying on IMF assessments instead of government statistics, Zambia hopes to mitigate some of the risks associated with data manipulation, as seen in previous examples like Argentina.

While SCDIs offer an enticing option for countries in distress, they are also a double-edged sword. The experiences of Argentina and Ukraine serve as cautionary tales, highlighting the risks of flawed design, legal disputes, and increased borrowing costs.

For SCDIs to truly be effective, they must be well-designed, transparent, and aligned with internationally recognised benchmarks. The role of international financial institutions in fostering a supportive framework for SCDIs cannot be overstated, as their involvement will be critical in ensuring that these instruments serve both issuers and investors effectively.

As more countries turn to SCDIs to navigate their debt challenges, it will be crucial to learn from past experiences and refine the structure of these instruments. If successful, Sri Lanka’s experiment with macro-linked bonds could set a new standard for how countries approach sovereign debt restructuring in the 21st century. The future of SCDIs hinges on finding the right balance between risk and reward, ensuring that they provide the necessary relief to borrowers while maintaining the confidence of investors.

The post IF Insights: The renaissance of state contingent debt instruments appeared first on International Finance.

The World Bank’s Regional Vice President for Eastern and Southern Africa, Victoria Kwakwa, told Reuters in an interview that it may advance by straying from the central bank’s “quasi-fiscal operations.”

The International Monetary Fund stated in January 2024 that the central bank should cut back on its non-core operations, which have included printing money and borrowing to lend to the government. However, she did not specify what those operations were.

With annual inflation at 47.6% and the Zimbabwean currency has lost over 60% of its value vs. the US dollar thus far this year, the nation is still reeling from the memory of hyperinflation under longstanding former leader Robert Mugabe.

“The lack of confidence is the fundamental cause of the issue,” Kwakwa stated.

“And people strive to get rid of it to buy something else every time they get the cash; thus, its value is always declining,” the senior World Bank official continued further.

After ten years of dollarisation, the local currency was reintroduced in 2019, but it quickly lost value, leading the authorities to approve the use of foreign currencies in domestic transactions.

The finance ministry and central bank announced recently about working on ways to stabilise the value of the currency and that they were thinking about tying the exchange rate to the price of gold among other things.

“More confidence will be built through policy predictability and the advances being made in moving away from quasi-fiscal operations,” Kwakwa noted.

According to her, the World Bank is “committed” to the ongoing process that Zimbabwe has been going through since 2022 to pay off billions of dollars in arrears to the organisation and other foreign lenders.

Kwakwa, meanwhile, expressed her “pleasure” at the news that China and India had reached debt restructuring deals with Zambia. The President of Zambia announced the accords in February 2024, raising optimism that Zambia would be on the verge of exiting its more than three-year default.

After settling with the official creditors, the government may now concentrate more on settling with the commercial creditors. And we’re hoping that will happen shortly as well,” she stated.

The post World Bank urges Zimbabwe to boost currency confidence appeared first on International Finance.

In January 2024, South Africa played host to the largest mining investment conference in the world. According to industry insiders, China and the United States are vying for vital minerals like cobalt and lithium, which are expected to be essential for driving the anticipated shift to sustainable energy.

Some of the largest reserves of these materials are found in African nations like the Congo, but China now controls the supply chain and refines them, and the United States wants to lessen its reliance on the massive Asian nation.

“I don’t need to remind you of what happens when the supply chain breaks down or when we depend on a single supplier,” United States Under Secretary of State for Economic Growth, Energy, and the Environment Jose Fernandez alluded to this during his remarks at the recent mining conference in Cape Town.

Fernandez stated that by 2030, electric cars should account for half of the world market, and by 2040, the need for lithium should have increased 42 times. Approximately 80% of the world’s lithium refining is done in China.

The Africa Mining Indaba conference’s international adviser, Tony Carroll, the director of Acorus Capital, told Voice of America (VOA) that the session was timely for the West.

“About 20 years ago, the Chinese made it their priority to corner the market for critical minerals, and they backed up that approach with significant infrastructure expenditures and public diplomacy in Africa, the majority of which came from long-term loans. The West has been scurrying ever since they discovered this tactic too late,” Carroll claimed further.

The production of electric vehicles and the expansion of green technology production depend on “Rare Earth Minerals”. However, African nations with large resources may have to pay a social or environmental price for its exploitation.

In what could be interpreted as a jab at Beijing, Fernandez repeated comments made by Pope Francis during a recent visit to the Congo criticising “economic colonialism” in Africa. Additionally, he gave assurances to African nations that the US will uphold “environmental, social, and governance standards.”

In 2024, the Chinese business Zijin, one of the biggest mining corporations globally with holdings in copper, lithium, and other metals, sponsored the Mining Indaba for the first time.

As it increased production at its new Kisanfu mine in the Democratic Republic of the Congo in 2023, China’s CMOC Group surpassed Glencore to take the top spot in the world’s cobalt production rankings.

The company’s production increased by 174% year over year to 55,526 metric tons, more than 25% of the 213,000 tons of global demand.

The cobalt market has been overtaken by Kisanfu, in which the massive Chinese battery company CATL holds a minority stake. According to the Cobalt Institute, one of the “biggest surpluses in recent years” occurred in 2023 when global production surpassed demand by 12,500 tons.

CMOC is not worried. Despite the decline in the price of cobalt from USD 40 per pound in May 2022 to the present USD 13, the company intends to increase output and open more tabs this year.

Some cannot afford to be that optimistic. Project economics have been completely turned upside down by the price crash, and Western expectations of becoming less dependent on China for a metal that is essential to military gear and clean energy technologies have been dashed.

However, the West is currently opposing China’s firm hold on the mineral resources that are beneath the surface of Zambia and the Democratic Republic of the Congo.

With both nations hoping to play significant roles in the quest for key minerals, this new race for Africa has a post-colonial twist.

The PR manager of South Africa’s Zijin Platinum said the CEO was unable to react before the deadline for this piece when asked by VOA if China and the United States are currently in a race for rare earth metals, in addition to other queries regarding Chinese mining interests in Africa.

Nowadays, African countries are attempting to negotiate the finest terms for their citizens. At the Cape Town conference, Namibia’s Mines Minister Tom Alweendo informed reporters that his nation is certain that any lithium mined there must be processed domestically.

Likewise, DRC President Felix Tshisekedi, a prominent speaker at the mining conference, has been pressing China for improved conditions for several years. China gets most of its cobalt from the Democratic Republic of Congo (DRC), which provides about 70% of the global supply.

Congo is one of the least developed nations in the world despite having abundant mineral riches, and Tshisekedi claimed in January 2024 that the USD 6.2 billion minerals-for-infrastructure deal that his predecessor had struck with China had not helped the country.

“The Chinese, they’ve made a lot of money and profited greatly from this contract,” Tshisekedi remarked to Bloomberg at the Davos World Economic Forum, while adding, “It has not benefited the Democratic Republic of the Congo in any way. Nothing concrete or beneficial, in my opinion, for our population.”

“Now our need is simply to re-balance things in a way that it becomes win-win,” he stated.

There are indications that Tshisekedi may be heading west.

US Spices Up The Game

The Minerals Security Partnership was established by US President Joe Biden’s administration in 2023 to diversify supply chains. Australia, Canada, Finland, France, Japan, the Korean Republic, Norway, Sweden, the United Kingdom, and the European Union are among the partners. The DRC was present at the organisation’s inaugural conference last year as one of the non-partner countries.

The DRC and Zambia then signed an agreement with the United States to work together to improve the supply chain for electric vehicle batteries during Biden’s US-Africa Summit in December 2023.

Speaking at the Indaba, Jay Truesdale, CEO of risk advice firm Veracity Worldwide, said, “Dependency on China for rare earths is viewed with alarm. Given that Beijing has the means to severely restrict access to these minerals, in the event of a geopolitical crisis it could choose to use its market dominance to cripple non-Chinese manufacturers in such sectors as electronics, automotive manufacturing, aerospace, and renewable energy.”

In addition to the escalating hostilities in Africa between China and the West, Truesdale predicted that Russia’s invasion of Ukraine would compel mining firms to make difficult choices.

“Russian mining operations throughout the continent are coming under more scrutiny as a result of the conflict in Ukraine. Where its mining corporations operate, Russia benefits from a lack of transparency and lax governance,” he stated further.

“African governments are now paying closer attention to how Moscow exchanges assurances of increased security for a closer look at mineral wealth and the potential for state control,” Truesdale concluded.

The post IF Insights: A new chapter in US-China rivalry, involving ‘Rare Earth Minerals’ appeared first on International Finance.

Renewable energy is an affordable path to electrification especially in a country like Zambia given its low density that makes rural electrification a huge challenge.

Given the significant role of the woman in African societies and Zambia in particular (whether she is employed in the formal or informal sector), at Widenergy we believe that providing renewable energy as a catalyst for development cannot be achieved without including women. There is a need to identify and remove structural gender-specific barriers that females face, alleviating energy- poverty, and increasing their participation and leadership in developing gender-responsive energy policies.

Reducing gender gap is key
Empowering women in rural Africa is achievable if the government makes an intentional decision to reduce the huge existing gender gap in the renewable sector. Women represent 32 percent of workers in renewables, according to a new survey and analysis conducted by the International Renewable Energy Agency (IRENA). This compares to 22 percent reported in traditional energy industries like oil and gas and over 48 percent in global labor force participation. Involving women in the renewable energy sector will bring systematic change and will significantly improve their quality of life. Empowering women at community levels will strengthen economic, equitable pace and social progress. It goes without saying that such progress will need a strong commitment from governments.

At WidEnergy, we pride ourselves in our unique last mile distribution operation structure: We conduct direct sales in local communities, done by our door-to-door sales agents that we recruit and train. In an effort to make diversity and inclusion a reality, which have proven to significantly contribute to both great customer experience and women empowerment, 40 percent of our sales agents are women – they own the sales and the on-boarding process. This strategy has enabled our female sales team to leverage their natural ability to relate with the social context of our customers, gain confidence in their contribution to building better communities and establish solid and long-lasting relationships with our customers. Our female agents benefit from the fact that they become known and respected in both their neighbourhood and communities. They have reported feeling empowered by the work they do coupled with the fact that they also get to empower fellow females in their communities – a leadership attribute that gives them tremendous satisfaction.

Similarly, in most of the rural off grid areas in Zambia, where we operate, women are the real agents of change: they promote the use of renewable energy by explaining to their fellow neighbours who are still using unclean energy, often times through lived experiences, how such energy is harmful to their health and has long-term consequences on the environment.

They showcase the use of solar home systems within cooperatives, saving groups and other already existing female-led structures in their communities. Considering the majority of households are run by women, with the man as main provider (i.e. hardly involved in the day-to-day home nitty-gritties), having female agents explain how using the solar home system enables longer hours of study for the children, better health for the whole family and better quality life is more relatable and allows the customers to freely engage while they might have been shy and unable to fully engage with a male agent. This gives our female agents a platform and ability to inspire their communities. In addition to earning money for their households, the newly empowered women also increase the usage of clean energy. Household by household.

Leading from the front
As WidEnergy we value gender equality of our beneficiaries. We provide them with affordable and quality access to renewable energy. Since our Solar Home System kits are bundled up with mobile phones, it gives our beneficiaries (56 percent of which are female) more opportunities to access other digital platforms such as Mobile Money, recently classified as one of the catalysts of sustainable development by the GSMA and the UN. Access to renewable energy has given our female beneficiaries an opportunity to sustain and scale up their small business activities.

Such is the case of our customer turned Sales Agent—Patricia, from Chibombo who runs a small shop selling fast moving products. She narrates how with the savings she made from operating longer hours at the shop and at the small tavern she owns, she has been able to send her kids to school and built herself and her two children a better home. Patricia says that the best reward is being able to provide for her family. Being empowered has given her a voice, and she has seen first-hand the effect it has on her as well as her community.

Rachel was our first female sales agent for our Solar Home System kits, back in 2018: She is a mother of 9 who took up the challenge of becoming a sales agent, defying the belief that it is a ‘male’ job. Rachel has purchased a solar home system for her home enabling her to improve her life and that of her household from the commissions she receives from selling Solar Home System.

Women in the rural areas face the brunt of all the challenges associated with energy poverty. Prior to becoming a sales agent, Rachel explained to us challenges she had such as time management, having to waste long hours gathering wood and preparing dinner for the family in the dark. This Entrepreneurship opportunity allowed her to change her story– it allowed her to be the talk of the town—In a good way as she quickly became the focal point where people could access clean energy. She easily tells the story of an empowered woman, and the ripple effects of it, in terms of savings in the households, improvement in her children’s education, better health, and family quality time.

Advocating renewable energy through direct consumption
In my opinion, empowering women is enabling them to tell the story themselves: it’s allowing them to become advocates for sustainable energy, empowering them with knowledge and employment.

Renewable energy can empower women in rural off grid areas. These women are in most cases, the direct consumers and beneficiaries of renewable, clean energy. To achieve this, we need to create an environment that would enable the industry to create better employment and entrepreneurship opportunities for women in off grid rural communities.

At WidEnergy Africa, we are empowering women with our last mile distribution model of clean, reliable and affordable energy solutions, one household at a time. We do believe that improving the lives of the many who have no access to electricity and enabling them to have better health and better education for their children will allow us to change the narrative on the African continent.

The post How renewable energy is empowering women in rural Africa? appeared first on International Finance.

Kennedy Malama, Permanent Secretary in the Ministry of Health in charge of Technical Services mentioned that the vaccines will be concentrated in provinces where vaccination demand is high.

During a Covid-19 briefing, he told the media, “Our plan is that this consignment will be tailored to the provinces which are fast-moving because now our strategy is that as we receive the vaccines, we ought to use them in the shortest period of time.”

Even since the vaccination programme was launched on April 14, Zambia has been administering the AstraZeneca vaccine that has to be available through the COVAX facility. Till now, Zambia has received two consignments so far.

The government also mentioned that they are encouraged by the progress made so far, with 2.8 percent of the eligible population so far receiving dose one and 0.8 percent receiving dose two. Zambia has also targeted to vaccinate around 8.4 million people to fight the Covid-19 pandemic. Zambia has recorded 187,602 cases in total and the total number of deaths stood at 3,138.

The post Zambia might get 151,200 doses of Johnson and Johnson Covid-19 vaccines appeared first on International Finance.

RMB experts told the media, “Such moves would greatly benefit environments like Zambia that need to beef up their reserve base as part of their economic recovery plan targets. Our current analysis suggests that an increased stake in the mine would enable the Zambian government to benefit from higher dividend pay-outs in future.”

The Democratic Republic of Congo is the largest producer of copper in Africa and Zambia ranks second in the list. The country produced more than 646 000 tonnes of metal in the first nine months of 2020 compared to 590,321 tonnes in the same period the year earlier.

Most of the African economies see Copper as an important tool towards economic boost and 80 percent of the exports are covered by Copper. Zambia Consolidated Copper Mines, earlier, acquired 73 percent stake of Glencore in Mopani Copper Mines.

The country faced challenges towards mine nationalisation, which slumped the treasury and witnessed production plummet.

The country has been the key agricultural producer for Southern Africa and Delta Drone International’s local unit Rocketfarm is planning to expand its presence in Zambia through a project for Syngenta, an agricultural company. Zambia’s 19 percent GDP is contributed from agriculture, employing three quarters of the population.

The post Global Copper price surge to boost Zambian economy appeared first on International Finance.

Recently, Zambia has requested a financing arrangement with the International Monetary Fund to navigate through its debt crisis. The country is a major copper producer mired in a debt crisis.

Zambian authorities in a statement said “The Fund is currently assessing this request.” It is reported that the country’s $3 billion in outstanding eurobonds is not its only debt, but it also owes $3.5 billion in bilateral debt, $2.1 billion to multilaterals and $2.9 billion to other commercial lenders.

Last year, its debt to Exim Bank amounted to $2.6 billion. This amount has made up a significant portion of the $3 billion Lusaka which is owed to China and Chinese entities, media reports said. 

The International Monetary Fund has been actively supporting and helping countries to come out of their debt crises in recent years. Argentina is in talks with the International Monetary Fund and a deal is expected to take place in March or April 2021.

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The reason for terminating acquisition talks is attributed to the protracted pandemic and the uncertainty that follows. This bank’s decision is in line with the board’s view, media reports said.

Equity Bank Group CEO James Mwangi, told the media, “Board of Directors have agreed to the entry into a binding term sheet through a share swap to exchange certain banking assets of Atlas Mara in four countries for shares in Equity Group.”

In January, it was reported that Equity Group’s plan to acquire four banks in Rwanda, Zambia, Mozambique and Tanzania will delay as the buyout deal was not made within the stipulated deadline. However, Equity and Atlas had planned to continue discussion further in 2020 to reach a mutual deal.

Now the pandemic has forced the bank to change its decision in acquisition plans. With that, the bank is more focused on conserving cash and liquidity to support customers during uncertain times. ”A strong capital and liquidity position gives us the strength and capacity to cushion our business, accommodate and walk with our customers during these challenging times,’’ Mwangi said.

The post Equity Bank terminates acquisition talks with Altas Mara appeared first on International Finance.