Copper Cathodes for exports from Kansanshi mine
Copper Cathodes for exports from Kansanshi mine

The World Bank says Zambia needs to boost its copper production if it is to maximise its revenue base.

World Bank senior economist Gerard Kambou says Zambia has an advantage of existing mineral resources that can assist to accelerate the country’s economic growth.

Mr Kambou was speaking yesterday via a video-conference when the bank released its April 2019 bi-annual analysis of the state of African economies.

The country’s annual copper production has averaged 850,000 metric tonnes, with a projection of reaching 1,000,000 metric tonnes by next year.

And World Bank chief economist for Africa Albert Zeufack says economic growth in the sub-Saharan Africa has been downgraded to 2.3 percent for 2018, down from 2.5 percent in 2017.

Dr Zeufack said economic growth for the region remains below population growth for the fourth consecutive year.

Dr Zeufack said the slower than expected overall economic growth rate reflects ongoing global uncertainty.

And, World Bank lead economist and lead author of the report Ceaser Calderson said African countries have an opportunity to move from fragility to opportunity by cooperation across borders to tackle instability, violence and climate change.

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6 COMMENTS

  1. Wrong. U want to finish copper and leave. If Zambian are clever they should reject that.

    U will suffer when copper is gone

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    • Well it’s the ugly truth you have to face. Copper is a depleting resource. It won’t be there forever so now is the time to diversify your economy

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    • We have important things this week, by-elections.
      So stuff is for June.
      PF government is closed for now.

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  2. NO,like @1DJ7 has said,we DONT need to increase but to PUT A FREEZE on solid minerals exploitation bcoz we are being cheated! 850,000tons/yr at current prices is a lot to help our small economy but ALL BENEFITS DISAPPEAR TO MULTINATIONALS. World Bank,pliz tells us something new,you PREACHED PRIVATIZATION,NO SALVATION BUT MORE MISERY,now this?? NOW you want to TELL US THAT TO INCREASE OUTPUT GOVT SHUD REDUCE TAXES AND ELECTRICITY TARIFFS so that multinationals can still reap more!!

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  3. The World Bank sees a natural resource they want to exploit. Do they care about the Zambian people? I doubt it. In my humble opinion Zambians should focus their minds on how to develop profitable end products with their copper, such as artisan jewelry, and not hand over these potential profits to rich Western countries.

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  4. That’s a joke. They want to accelerate to increase their take through these investors leAking our money out of our economy. Western economies are slowing andcrecession is reading it’s ugly head again, they want to deplete our resources.

    Anyway, why can’t we impose a rule that they have to. Reinvest into Zambia more than half they make out of our resources? Let’s put that condition in.

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