JOHANNESBURG/LONDON (Reuters) &#8211; Glencore will likely sell its entire 73.1% stake in Zambia’s Mopani Copper Mines to the government’s mining investment arm ZCCM-IH rather than becoming a minority stakeholder, two sources with direct knowledge told Reuters.



Zambia and Swiss-based Glencore are at “cross purposes” over Mopani, Zambian Mines Minister Richard Musukwa had said on Tuesday when he announced ZCCM-IH aims to increase its shareholding in Mopani to 51% “or even more”, from 10% currently.



Glencore’s plans to put Mopani on care and maintenance prompted the Zambian government to threaten in April to revoke the firm’s mining licences.



Two sources with direct knowledge of the negotiations said Glencore is looking to exit the asset entirely.



“As of now, we are discussing a potential sale of their stake in Mopani,” said one of the sources.



A Glencore spokesman declined to comment. First Quantum, which owns 16.9% of Mopani, did not respond to a request for comment.



The move by ZCCM-IH to take control of Mopani is part of its strategy shift away from minority stakes and towards running mines as an operator.



Glencore wrote off the value of Mopani by $1.144 billion in its half-year earnings report earlier this month, saying the estimated recoverable value was $704 million, including tax receivables.



Mopani’s total liabilities exceeded its total assets by $2.562 billion in 2019, the company reported in a financial statement, indicating “a material uncertainty in relation to the going concern assumption”.



Mopani produced 51,275 tonnes of finished copper in 2019 including purchased materials &#8211; accounting for 13.9% of Glencore’s African copper output and 3.7% of its overall copper output.



Glencore, which reported a first-half loss due to the impact of the pandemic, will not reap the benefits of billions spent on expansion projects over the last three years if it sells to ZCCM-IH but investors see this as a way for the miner to cut its losses.



“Mopani has been a big headache for Glencore, the mine has never delivered anything for shareholders,” a Glencore shareholder, who asked not to be identified, said, citing numerous accidents and operational issues.



<h3 class="wp-block-heading">CASH CONSTRAINTS</h3>



A major hurdle to clinching the deal is Zambia’s lack of funds to pay for the stake and fund the mine’s running costs, sources say.



Glencore’s stake in Mopani is worth $514.6 million, according to its own valuation. Mopani’s 2019 financial statement shows operating expenses of $931 million.



Zambia’s total foreign exchange reserves stood at $1.43 billion at the end of June, equivalent to just 2.3 months of import cover, according to the central bank.



ZCCM-IH’s cash and term deposits together amounted to 828.9 million Zambian kwacha ($43 million) by March 31 2019, according to the latest financial statements on its website.



A ZCCM-IH spokeswoman did not reply to Reuters’ questions about how it would finance the stake purchase.



“The state’s cash constraints point to an amicable solution,” said Eric Humphery-Smith, Africa analyst at global risk advisory firm Verisk Maplecroft.



“The government may have threatened expropriation in the past, but the need for copper revenues likely precludes that option.”&nbsp;&nbsp;

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Exclusive: Glencore puts entire stake in Mopani on the table in talks with Zambia: sources

LUSAKA/JOHANNESBURG (Reuters) &#8211; Zambia’s mining investment arm ZCCM-IH is seeking a controlling stake in Glencore subsidiary Mopani Copper Mines, Zambia’s mines minister said on Tuesday, after a disagreement over Glencore’s plan to halt production.



ZCCM-IH currently holds a 10% stake in Mopani Copper Mines. Glencore is the majority owner with 73.1% and First Quantum Minerals owns 16.9%.



A 10% stake was “not sufficient” to determine Mopani’s future, Mines Minister Richard Musukwa said in a statement, and ZCCM-IH was therefore seeking a larger stake “with a view to holding a controlling stake in Mopani”.



The mines minister told Reuters ZCCM-IH was seeking a 51% shareholding “or even more”.



Musukwa said the government has a team liaising with ZCCM-IH for the negotiations with Glencore, and ZCCM-IH is engaging a transaction adviser.



Glencore said in a statement discussions with ZCCM-IH “and other shareholders” were progressing and further updates would be issued as appropriate.



Asked about ZCCM-IH seeking a controlling stake in Mopani, a Glencore spokesman declined to comment.



A majority stake would require Glencore selling more than 41% of the company to ZCCM-IH.



Glencore’s announcement in April that it planned to suspend operations at Mopani, citing low copper prices and COVID-19 disruptions, sparked a backlash from Zambia’s government, which said Mopani had not given enough notice and threatened to revoke the company’s mining licences.



In May, Mopani said it would resume mining operations for 90 days but still expected to go into care and maintenance &#8211; a term for a temporary production halt during which a mine site is maintained ahead of an eventual restart.



On July 16 the company said it would appeal the mines ministry’s decision to reject its proposal to suspend the operations.



The government is working closely with labour unions and suppliers to ensure operations continue to run smoothly during the negotiations, Musukwa said.

Zambia’s ZCCM-IH seeks to take control of Glencore’s Mopani Copper Mines

LUSAKA (Reuters) &#8211; Glencore’s Zambia subsidiary Mopani Copper Mines on Thursday said the country’s mines ministry rejected its proposal to suspend operations because of low copper prices and disruptions caused by the coronavirus crisis.



Mopani said it would appeal against the decision and will continue mining operations pending the outcome of the appeal process.



Operations were halted at its mines at the start of April, with Mopani citing the COVID-19 pandemic and other problems, but mining resumed a month later after the decision sparked a backlash from the Zambian government.



“Mopani remains of the belief that the only way to protect the company’s value and preserve the option to deliver its growth projects when conditions further improve is to transition the operations to C&amp;M (care and maintenance),” it said on Thursday.



Zambia’s mines minister, Richard Musukwa, said the government had made it clear from the beginning that it wants Mopani to continue and said he was happy Mopani had “responded favourably” to his call not to place the mine under care and maintenance.



Musukwa said that Mopani has cut the number of expatriates working at the mine from 94 to 49 and the company will address concerns over what he described as its high cost of production.



“We are open to dialogue because we want what’s best for the people of Zambia and Mopani is strategic to [our] economic trajectory,” he said.



Mopani Copper Mines, which produced 119,000 tonnes of copper in 2018, is 73.1% owned by Glencore, 16.9% by First Quantum Minerals and 10% by Zambia’s mining investment arm ZCCM-IH.

Zambia rejects Glencore copper mine’s suspension plan

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Zambia’s Ministry of Mines and Mineral Development reported that copper output rose 3.9 per cent to 342 734 tonnes in the first five months of 2020 despite the closure of mines during the COVID-19 lock-downs. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.

Zambia sees increase in copper output despite COVID-19 mine closures

LUSAKA (Reuters) &#8211; Zambia’s Konkola Copper Mines (KCM), a unit of diversified miner Vedanta Resources, has closed part of its open-pit mine as a portion of the pit is about to collapse, the chief executive officer said late on Thursday.



KCM predicted that part of the Nchanga Open Pit in Chingola in Zambia’s Copperbelt area will cave in “anytime” in the next five days after geo-technical assessments detected some slope instability.



The slough &#8211; or caving in of the ground &#8211; manifested so far through tension cracks opening up is likely to stretch approximately 350 metres (0.2 mile) and the estimated volume of the area involved is 8 million cubic metres, CEO Christopher Sheppard said in a statement.



Production was continuing elsewhere except for the at-risk areas which have been shut, a KCM spokesman said.



KCM has implemented measures to protect communities around the mining area and employees from the impact of the slough, Sheppard said.



“I must state in no uncertain terms that our priority is to ensure the safety of people first, and also make sure that KCM, public and private property are safe-guarded.”



The mine has marked out a 90-metre wide hazard exclusion zone in which the potential collapse is expected to occur. It is “at least” 60 metres away from nearby communities, he said.



Apart from the Nchanga open pit, KCM also operates the Nchanga and Konkola underground mines, concentrators, a smelter, a tailings leach plant, and a refinery.

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Vedanta’s Zambia copper unit warns part of Nchanga open-pit mine about to collapse

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Rwanda has reimposed lock-down in parts of Kigali in a bid to prevent the spread of the coronavirus in other areas. Moreover, the Central Bank has announced that commercial banks have restructured loans amounting to about $679.5 million in a move to mitigate Rwandans from making monthly payments. During the same time, Equity Group Holdings ended its negotiations to acquire the banking businesses owned by Atlas Mara in Rwanda, Tanzania, Zambia, and Mozambique. Hudson Kuteesa, journalist with The Newtimes for more joins CNBC Africa for more.

COVID-19: Rwanda reimposes lockdown in parts of Kigali City

By Chris Bishop



Kenneth Kaunda has seen it all in modern Zambia since he took the reins of power at the country’s birth in 1964 and celebrated his 96th birthday on April 28. Even then, I am sure he wasn’t prepared for the crazy days when he stood trial for allegedly sabotaging the very nation he fathered.



My mind went racing back to the colonial-style High Court in Lusaka, in 1998, with its Roman columns, &nbsp;sweeping drive and oval lawn at the front.



It is a trial neither of us will forget. In the dark of every Monday morning, for five months, I would leave home in Harare, not too long after midnight and drive with the crew to the Chirundu border. We would cross at day break and then drive hell-for-leather to Lusaka to catch the opening of proceedings at 9 AM – we would work all week end then drive back home arriving just before midnight on a Friday.



Kaunda, then a sprightly 74-year-old was arrested on Christmas Day 1997 and charged with assisting a failed coup months before, I also covered, that could have come from comic opera. On that summer’s day, a bunch of disgruntled, drunken, officers led a company of unwitting soldiers in storming ZNBC – the country’s TV channel. The soldiers &nbsp;smashed through the gates with armoured personnel carriers and many were soon dreaming of becoming the next &nbsp;minister of defence.



Their leader – calling himself &nbsp;Captain Solo more dramatic than his real name Captain Stephen Lungu – went on TV, clearly still under the influence, to threaten live executions on air. This power lasted as long as it takes to boil an egg. The rest of the Zambian army came down on ZNBC with a vengeance – an eye-witness told me the greatest difficulty they faced was winkling the comic opera warriors out of hiding in cupboards throughout the TV station.



I believe that Kaunda was as surprised as the rest of us by the coup, but that didn’t stop a beady-eyed government that – the year before – tried to strip the president of his citizenship. He was charged the world and its wife turned up at the High Court in Lusaka. At the time, we saw it as a clumsy attempt to kangaroo court Kaunda into jail and out of the political scene.



It was chaos on the first day of the trial. Outside, Kaunda supporters, from his party UNIP, sang songs and gave the party two-fingered victory salute.



“Veeeee!,” they shouted as we hurried up the long flight of steps and through the big wooden doors. Inside there were more journalists than police outside. A couple of guys broke court regulations to bring cameras inside and interviewed Kaunda in the dock.



“These are frightened little men trying to hurt me!” says Kaunda more than once in the interview. He had grown a big white beard in protest at his incarceration and looked a bit like &nbsp;Father Christmas.



As the hearing drew to a close on the first day, it was pandemonium. Police realised that the TV interview had been done in the dock they chased down the fleeing crews outside the court and tried to snatch their tapes. A cornered CNN camerawoman poked a Zambian policeman in the eyes with both fingers – kung fu style – before fleeing to the safety of the nearby US Embassy.



That night the Kaunda interview ran on thousands of television bulletins around the world. By breakfast time the next day, the police and army were hopping mad.



So it was, next morning, I had to rub my eyes when I arrived at court. Barbed wire had been thrown around the building, there were armoured vehicles parked outside. Everywhere there seemed to be police armed to the teeth. On the roof stood a line of soldiers with their rifles cocked; outside there was one journalist – me.



Yet inside an even bigger shock waited. There were airport security metal detectors and as I came through there were the head of police and the head of intelligence – a shaven-headed hulk of a man by the name of Xavier Chungu &#8211; waiting for me. I had said not a word before the two advanced towards me jabbing their fingers towards my head.



“You try to speak to that old man today and you will be severely man handled!” shouted the police chief as he snatched my notebook and started leafing through it.



“Yes, I can take you for a ride, you know what that means,” snarled Chungu. From my second year intermediate knowledge of state thuggery that meant a ride in the boot of a car followed by a beating at the end of it.



“Welcome to Zambia the warm heart of Africa!” was my sarcastic reply, with a smile, but I was angry.



What ensued was five months of argument. The judges acquitted Kaunda and there followed one of the biggest and most euphoric celebrations I have ever seen outside an African court. I can still see the lawyers for Kaunda – dressed in wigs and gowns – leaning out of the top windows of the building holding their fingers in the V for victory sign to the cheering crowds below.



A victory lap around Lusaka by the bearded Kaunda followed and was reported around the world with the narrative of an old man defiant and victorious over questionable politicians.At the time, we journalists joked : Kaunda 1 Government 0. &nbsp;



Twenty- two years on former President Frederick Chiluba and many of his ministers who oversaw the prosecution have passed on, so has the ill-fated Captain Solo.



The shaven-headed Chungu fell afoul of the authorities in Lusaka and was on the run &nbsp;for a while, before pitching&nbsp; up, surprisingly , in politics in the Democratic Republic of Congo &nbsp;in the 2019 elections. The head of police is presumably enjoying his pension.



Whereas Kaunda is still going strong with his peace work, powerful &nbsp;constitution, and famous sense of humour.



When I finally go to interview Kaunda on that memorable day, the last question I asked him, in jest, was why he was looking more like Father Christmas than an ex-African president. He laughed and beamed.



“Chris, Father Christmas, is that not a noble person to be?”



It probably is KK. Happy 96th birthday and thanks for the memory. &nbsp;

FS_Kenneth Kaunda_28-04-20202

How Kenneth Kaunda went on trial for sabotage-days of  chaos, soldiers and threats.

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Africa will tread a tough road ahead as ratings agencies throw its iron fists upon African countries amid the COVID-19 crisis and economic disruptions impact private sector activity in Sub- Saharan Africa. Ridle Markus, Africa Strategist at Absa Corporate and Investment Banking joins CNBC Africa for more.

COVID-19: Moody’s downgrades Zambia from stable to negative

NKC African Economics expects the coronavirus-related knock to economic
growth in Africa’s three largest economies alone to shave off 1 ppt from the
continent’s GDP growth this year, from 3.8% to 2.8%. 



Preliminary estimates point towards the weakest continental growth
since the early 1990s.



The continent’s three largest economies, South Africa, Nigeria and
Egypt – together accounting for just under 60% of African GDP – will see a
significant weakening in economic growth this year. 



This slowdown in economic activity will permeate through the
continent as these countries are salient drivers behind economic growth in
their respective regions.&nbsp; 



In addition to the indirect effects stemming from weakness in the
largest economies, other African nations will also have to deal with a much
more volatile external economic environment. 



The collapse in tourism will weigh on economic growth in many
countries (particularly the island nations, Morocco, Egypt, and Tunisia), while
a reduction in both export demand and commodity prices will weaken fundamentals
in Africa’s more export-oriented economies (most notably the oil producing
nations).&nbsp; 



The escalation in the Covid-19 outbreak in Africa implies there is
a lot more at stake than foregone economic production. 



Most African countries will not be able to effectively implement
the severe restrictions on movement that we have seen globally. The
impracticality of implementing widespread self-quarantine in shantytowns or
informal settlements means that this will not be an option. Mismanagement of
the situation could lead to human costs far exceeding economic losses.



Tourism is a key forex generator and employment creator across the
continent. Severe travel restrictions, border closures and lockdowns in key
source markets will result in a collapse in tourism during the first half of
the year, at least. 



Domestic and intra-Africa tourism have been key drivers behind
growth in overall tourism in recent years, but as more Covid-19 cases are
confirmed on the continent we will see an increase in domestic travel
restrictions and regional border closures. 



The island nations will be hardest hit, but the mainland will feel
the effects in the North (particularly in Tunisia, Morocco and Egypt), South
(Namibia, Botswana), East (Tanzania, Rwanda, Kenya) and West (Côte d’Ivoire,
The Gambia, Cameroon). 



Low barriers to entry have led to tourism becoming a key source of
employment. The island nations in particular are dependent on tourism to
generate employment, most notably the Seychelles (where tourism accounts for
around 44% of formal employment), Cape Verde (39%) and Mauritius (19%). 



Tourism has also become a salient job creator on the African
mainland, and a slump in the sector could result in rapid job losses given the prevalence
of micro- and small-sized enterprises operating in the sector.&nbsp; 



The slowdown in global economic activity will translate into a
reduction in demand, while lower commodity prices will compound this negative
effect on exports. 



Africa’s energy exporters will struggle to come to terms with a
much more hostile external environment. Countries such as Nigeria, Angola and
Gabon are highly dependent on oil exports not only to generate forex but also
to fund government spending. 



Countries including Namibia, Zambia, Botswana and Mozambique are
dependent on mineral exports for the same reasons. 



Generally speaking, countries that have a GDP structure orientated
towards exports will feel the pain of a weaker external environment.



Lower international energy prices will have a detrimental impact
on the continent’s oil exporters, but many other countries stand to benefit. 



A reduction in the oil imports bill will have a favourable impact
on external balances while also containing consumer price inflation. Lower
inflation will support consumer spending at a time when a weak external
environment increases the importance of domestic consumption in driving overall
economic growth.&nbsp; 



The South African economy had already entered 2020 on a very
fragile footing before the dramatic external developments related to the
Covid-19 pandemic. NKC forecasts a 5% real GDP contraction this year. Domestic
policy uncertainty and supply-side constraints have now been accompanied by a
deterioration in global business sentiment and a drop in demand for South
African goods, all weighing on the country’s economic recovery prospects. 



In addition, the three-week long nationwide lockdown, which
commenced on March 27, will result in a collapse in consumer spending. The
outlook could deteriorate further if the lockdown is extended.&nbsp; 



The coronavirus has not as yet, as far as we know, taken
significant hold in Nigeria. However, the weaker external environment and more
specifically, the recent collapse in international oil prices, will have a
marked impact on the economy’s performance this year.



Lower oil prices will result in tighter FX liquidity, rising
inflation, falling investment, lower fiscal expenditure and easing consumption
growth. 



As a result, NKC has revised its growth projection sharply lower
to 1.2% this year, with risks still firmly stacked to the downside. 



A more severe domestic outbreak of Covid-19 would cause
significant disruption to daily economic activity, particularly when
considering the population density in the country’s biggest cities. 



Despite the Egyptian government’s efforts, the number of confirmed
Covid-19 cases continues to rise considerably. 



The president has urged all citizens to stay at home for a two-week
period and a night-time curfew has been declared, while the possibility of a
formal lockdown in some regions is also circulating in local media. 



The fiscal deficit is set to widen significantly over fiscal year
(FY) 2019/20 and FY 2020/21 following the announcement of a stimulus and
bail-out package to the value of approximately E£100bn. 



Government revenues already came in far below budget during the
first half of FY 2019/20 and will take a massive knock during the second half
of the fiscal year, which ends in June. 



Lower economic growth reflects weaker consumption, investment, and
exports. 



The recently announced fiscal stimulus measures, however, should
prevent a collapse in domestic demand. 



The economic impact of the coronavirus epidemic will be
considerable, but the human costs will be higher yet. 



As of end March South Africa remains the hardest-hit African
country from a confirmed-case perspective and the expected economic hardship
reflects this. 



However, South Africa is also arguably the best-placed country on
the continent to deal with the pandemic. While it does have a large
immuno-compromised population due to its struggles with HIV, the country might
be able to leverage its sophisticated private healthcare sector to supplement
inadequate public services. 



Most other African nations will not have this benefit. 



Confirmed Covid-19 cases will undoubtedly increase across the
continent in coming weeks, and timely and effective government responses will
be required to ensure that this does not become another African tragedy.



Jacques Nel – Head of Africa Macro



For more coverage on COVID-19 visit: <a href="https://www.cnbcafrica.com/covid-19/">https://www.cnbcafrica.com/covid-19/</a>

Clarification on COVID-19 “hotspots” as SA moves to level 3 lockdown

Op-Ed: African giants to stumble due to Covid-19 pandemic

LUSAKA (Reuters) &#8211; Zambia’s health ministry on Wednesday confirmed its first two cases of COVID-19. 



“The patients are a Zambian couple that travelled to France on a 10-day holiday,” Health Minister Chitalu Chilufya said. 



(Reporting by Chris Mfula; Editing by Alex Richardson)



This article was first published on Reuters Africa <a href="https://af.reuters.com/article/topNews/idAFKBN2151M0-OZATP">https://af.reuters.com/article/topNews/idAFKBN2151M0-OZATP</a> and is republished with its permission.

Zambia’s health ministry confirms first two cases of COVID-19

LUSAKA (Reuters) &#8211; Zambia’s African Green Resources (AGR) on Sunday launched an $81 million financing programme under which the company and its partners will provide farm supplies and technology to farmers in exchange for grain.



As part of broader plans by AGR to invest $150 million in Zambia for projects including a 50 megawatt solar farm and irrigation dam, AGR will target 120 commercial farmers and 250,000 small and middle farmers with the new programme to boost food security in Zambia and the surrounding region, chairman Zuneid Yousuf said in a statement.



It will cover 60,000 tonnes of fertiliser for wheat and soya farming &#8211; worth $55 million &#8211; and $26 million for projects such as the expansion of grain storage silos. It will be financed through regional and global banks, with the money repaid from the produce the programme yields.



“We expect to receive 44,000 tonnes of wheat per season,” Yousuf said, some of which will be processed before being sold on local and international markets.



“We will repay the loan from sales of wheat flour, soya processing plant products and silo revenue.”



Some of the money is also guaranteed by the African Development Bank, the African Union, Sace Italy and Agriculture Grain International.



The farmers, meanwhile, would benefit from the ability to grow their businesses with the help of access to markets and credit finance, Yousuf added.



World Food Programme (WFP) estimates indicate that a record 45 million people in 16 nations in southern Africa face growing hunger after repeated drought, low yields, widespread flooding and sluggish economic growth.



Reporting by Chis Mfula; Editing by Emma Rumney and David Goodman

What you need to know about this Zambian agriculture business launching an $81 million farmer financing scheme

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Joining CNBC Africa for Africa Exchange segment is Ridle Markus, Africa Strategist at Absa Corporate and Investment Banking for the slew of monetary data that is out in Botswana, Zambia and Namibia and the possible impact of the Coronavirus on Sub-Saharan Africa.

How the coronavirus outbreak impacts SSA’s growth outlook

JOHANNESBURG, Jan 16 (Reuters) &#8211; The United Nations World Food Programme said on Thursday that a record 45 million people in the 16-nation Southern African Development Community faced growing hunger following repeated drought, widespread flooding and economic disarray.



Southern Africa is in the grips of a severe drought, as climate change wreaks havoc in impoverished countries already struggling to cope with extreme natural disasters, such as Cyclone Idai which devastated Mozambique, Zimbabwe and Malawi in 2019.



Zimbabwe, once the breadbasket of southern Africa, is experiencing its worst economic crisis in a decade, marked by soaring inflation and shortages of food, fuel, medicines and electricity.



&#8220;This hunger crisis is on a scale we&#8217;ve not seen before and the evidence shows it&#8217;s going to get worse,&#8221; the WFP&#8217;s Regional Director for Southern Africa, Lola Castro, said in a statement.



&#8220;The annual cyclone season has begun and we simply cannot afford a repeat of the devastation caused by last year&#8217;s unprecedented storms.&#8221;



The agency plans to provide &#8220;lean season&#8221; assistance to 8.3 million people grappling with &#8220;crisis&#8221; or &#8220;emergency&#8221; levels of hunger in eight of the hardest-hit countries, which include Zimbabwe, Zambia, Mozambique, Madagascar, Namibia, Lesotho, Eswatini and Malawi.



To date, WFP has secured just $205 million of the $489 million required for this assistance and has been forced to resort heavily to internal borrowing to ensure food reaches those in need, it said.



In December, the United Nations said it was procuring food assistance for 4.1 million Zimbabweans, a quarter of the population of a country where shortages are being exacerbated by runaway inflation and climate-induced drought.



&#8220;Zimbabwe is in the throes of its worst hunger emergency in a decade, with 7.7 million people – half the population – seriously food insecure,&#8221; the agency said.



In Zambia and drought-stricken Lesotho, 20% of the population faces a food crisis, as do 10% of Namibians.



Castro said that if the agency does not receive the necessary funding, it will have no choice but to assist fewer of those most in need and with less.



(Reporting by Nqobile Dludla; Editing by Jon Boyle and Giles Elgood)

UN food agency says record 45 million people across Southern Africa face hunger

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The continual evolvement of technology means companies need to be in what Mastercard’s Gaurang Shah calls exponential innovation in order to cope. Shah spoke to CNBC Africa’s Godfrey Mutizwa at Mastercard Southern Africa Indaba.

How do African companies evolve to technology?

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While Zambians remain heavily reliant on cash for transactions, the numbers are improving with new products being developed with the support of regulatory authorities. Tola Adebayo, Head of digital banking at UBA Zambia spoke to CNBC Africa on the cashless policy drive in Zambia.

How effective is Zambia’s cashless policy?

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Sixty five per cent of all transactions in South Africa remain cash, better than the continental average of 95 per cent but much higher than the rest of the world. The South African Payments Association (PASA) is working to rectify that. CNBC Africa caught up with John Buitendag, Manager for Strategy and Research for more.

PASA’s Buitendag on the role of technology in reducing cash transactions

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Crypto currencies will be part of the overall solution to reducing cash usage in economies throughout the world though it may take time. That’s the view of Farzam Ehsani, co-Founder and CEO of Valr, a virtual currency exchange.

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Zambia

Exclusive: Glencore puts entire stake in Mopani on the table in talks with Zambia: sources

Zambia’s ZCCM-IH seeks to take control of Glencore’s Mopani Copper Mines

Zambia rejects Glencore copper mine’s suspension plan

Zambia sees increase in copper output despite COVID-19 mine closures

Vedanta’s Zambia copper unit warns part of Nchanga open-pit mine about to collapse

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How Kenneth Kaunda went on trial for sabotage-days of chaos, soldiers and threats.

COVID-19: Moody’s downgrades Zambia from stable to negative

Op-Ed: African giants to stumble due to Covid-19 pandemic

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What you need to know about this Zambian agriculture business launching an $81 million farmer financing scheme

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How do African companies evolve to technology?

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PASA’s Buitendag on the role of technology in reducing cash transactions

Valr CEO Ehsani on how crypto currencies can be used to reduce cash usage

News Tips

Advertise With Us

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