Category Archives: Zambia News
Director of Protocol and Vice-Marshal of the Diplomatic Corps at the Foreign and Commonwealth Office in the United Kingdom Julian Evans has said Zambia is developing its position as a finance hub in Africa.
The U.S. Trade and Development Agency awarded a grant supporting a feasibility study for a 130 MW wind power project in Zambia. The grantee is Access Zambia Wind One Limited, a wind power project developer and subsidiary of Access Power, a Power Africa partner and developer, owner, and operator of power assets in emerging and frontier markets.
Power Africa attended the Africa Energy Forum (AEF) to further advance its goal to increase energy access and power generation in sub-Saharan Africa. Through grant signings, facilitated events, and targeted meetings with government and private sector partners, Power Africa plans to further increase the number of transactions that have reached financial close. Currently, the 76 projects that have reached this status are expected to generate over 7,107 megawatts (MW) since the initiative’s 2013 launch.
Zambia’s economy is looking bright after the recent IMF visit to the country to further discussions on the 2017 Article IV consultation. The country has grown in foreign investors towards Zambia’s government securities market and also a good climatic condition – marked by moderate rainfall to support the agricultural sector. The country has also requested for an IMF-Supported program. According to the IMF team, the Zambian economy has witnessed a positive growth which could possibly allow the country to be supported by IMF’s Extended Credit Facility (ECF). The ECF provides financial assistance to countries with protracted balance of payments problems. As it stands now, the IMF seeks to reach more understanding of the country and based on that grant Zambia’s ECF request.
USTDA also announced approval of funding for a 130-140 megawatt wind power project being development by Access Wind One Zambia Limited, the Zambian subsidiary of Access Power Limited
The United Nations Special Rapporteur on the right to food, Hilal Elver, today cautioned that many Zambian peasants are at risk of becoming squatters on their own land as Zambia is turned into Southern Africa’s food basket.
Syngenta (www.Syngenta.com) in Zambia, through its subsidiary MRI Seed, has partnered with the Feed the Future Partnering for Innovation, a United States Agency for International Development (USAID) programme implemented by Fintrac Inc. (www.Fintrac.com), to help smallholder farmers gain access to high-quality, disease-free horticultural seedlings, giving them the opportunity to become commercially viable vegetable farmers.
FINANCIAL RISK INTERVIEW: “The solar off-grid grid space is fascinating. Like telecom it is an example where development and private interests are fully compatible.”
Exclusive interview with Harald Hirschhofer, Senior Advisor, The Currency Exchange Fund (TCX), The Netherlands. Harald is organising a TCX Risk Mitigation workshop during the F&I Forum at African Utility Week and will address attendees on “Understanding of risks and their pricing – how can the supply of long-term local currency financing and hedging be improved?“