\n “We have noted increased interest, especially when we have seen significant \u200cstrides being made in terms of bringing stability to the Zambian economy,” said Lowani Chibesakunda, Citi’s chief executive and banking head for Zambia, in an interview with Reuters<\/a> on Tuesday. \n <\/p>\n
\n “We have noted key interests in \u200bmining, in energy, as well as in agriculture,” he continued.
\n <\/p>\n
\n Possessing substantial copper reserves, Zambia is strategically positioned to satisfy the escalating global demand for the metal, which is driven by the transition toward sustainable energy and the expanding power infrastructure required for artificial intelligence data centers.
\n <\/p>\n
\n The UK company announced plans to put up 11.8%, about 23.5 million shares of CopperTech Metals Inc, its U.S.-based division, for sale.
\n <\/p>\n
\n “You cannot talk about \u200bthe Zambian story without emphasising the importance of mining and seeing how copper prices have remained \u200bbullish,” said Chibesakunda.
\n <\/p>\n
\n
\n
\n
\n
\n
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<\/p>\n
\n “The focus that is there now on copper-related products, be it your electric vehicles, et cetera, is really driving a lot of growth in that sector,” he added.
\n <\/p>\n
\n Zambia’s default status was officially concluded in November following an upgrade by S&P Global. The agency raised the nation’s long- and short-term foreign-currency credit ratings from SD (selective default) to CCC+\/C, accompanied by a stable outlook.
\n <\/p>\n
\n This sovereign rating action succeeded projections from the administration, which, despite enduring prolonged debt restructuring and a severe drought, anticipated that the budget deficit would decrease by over 50% in 2026 alongside a targeted economic growth rate exceeding 6%.
\n <\/p>\n
\n Chibesakunda further highlighted that novel categories of investors were initiating their preliminary entry into the domestic market.
\n <\/p>\n
\n “We have \u2060seen increased interest from players coming through from the Middle East … just to give you a sense, the pharmaceutical sector, the technology space.”
\n <\/p>\n
\n In mining, “we’ve had players coming into this market that \u2060are mining \u200bfor the first time,” Chibesakunda stated.
\n <\/p>\n
\n Last year, the Southern African country produced a record 890,000 tons of copper.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"
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