WEEKLY ECONOMIC RECAP 30TH EDITION

1. Millennium Challenge Corporation (MCC) has given Zambia a compact of US$458 million (about K11.9 billion), an amount that will be spent mainly in the agriculture and agro-processing sectors. In May this year, President Hakainde Hichilema met MCC CEOAlice Albright at State House. https://x.com/zadama24/status/1816773493066793165?s=46

2. Close to 1m households registered for emergency cash About one million vulnerable households in drought-affected areas have been registered for the emergency cash transfer response where they are now receiving K400 per month for the 12 months duration of the intervention. https://x.com/zadama24/status/1816391502274179300?s=46

3. developing a new pricing model for fuel ERB Director for Economic Regulations Alfred Mwila said the import parity pricing model is currently undergoing scrutiny by stakeholders as Government aims to look at a price that ensures affordability by the consumers, while protecting business interests of the OMCs. https://x.com/zadama24/status/1816386758029766868?s=46.

4. Thede-dollarisation which it is advocating is not reintroduction of exchange controls. Speaking in Lusaka yesterday, BoZ Governor Denny Kalyalya acknowledged that the de-dollarisation announced by the central bank has generated a lot of debate, with some people suggesting the introduction of the use of the United States dollar as a currency https://x.com/zadama24/status/1816378967722430775?s=46

5. World Bank has provided about K72.5m for feasibility studies aimed at improving infrastructure around the country’s tourism development areas (TDA). Ministry of Tourism PS Evans Muhanga says the money is part of the $100m grant from the bank for TDA & will be disbursed until 2030 https://x.com/zadama24/status/1815680710084087947?s=46

6. MINISTER of Mines and Minerals Development Paul Kabuswe says International Resources Holding (#IRH) has so far pumped US$210 million cash into Mopani Copper Mines while Glencore has been paid US$400 million cash. https://www.dhirubhai.net/posts/zambia-daily-mail_irh-zccm-kabuswe-activity-7188486076401868800-dIRWutm_source=share&utm_medium=member_ios

7. Zambia’s economic growth rate is projected to reach 6.6 percent next year despite the negative impacts of the drought during the 2023/2024 rainy season. https://x.com/zadama24/status/1815386916453273853?s=46&t=6r2Ce__Qtd1R2cv1fEzuVw

8. World Bank Group (WBG) has pledged to provide US$100 million to help accelerate Zambia’s digitisation infrastructure and increase you to Internet. https://x.com/zadama24/status/1814583405268422912?s=46&t=6r2Ce__Qtd1R2cv1fEzuVw

Written By: Naomi Bukasa & Robson Kofi