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African Economy
Will Zambia ev supply chain strategy boost the transportation sector
(EV) industry, Zambia
In a concerted effort to diversify its economy and capitalise on the rapidly growing electric vehicle (EV) industry, Zambia has proactively negotiated with automakers to establish EV component manufacturing plants near its extensive copper mining sites. This initiative underscores Zambia’s strategic vision to evolve from a mere exporter of raw materials into a key player in the global EV supply chain, leveraging its vast copper reserves—an essential component in EV engines.

Copper’s Central Role in EVs and Zambia’s Mineral Wealth
Copper’s significance in the EV industry cannot be overstated. As Bloomberg reports, copper is vital for EV batteries, wiring, and motors, making it a critical resource in the transition toward cleaner transportation. Zambia, Africa’s second-largest copper producer, possesses some of the world’s richest copper deposits, positioning it uniquely to benefit from this burgeoning market. Rather than solely exporting raw copper, Zambia aims to add value by attracting manufacturers to set up nearby production facilities, thus capturing more of the economic benefits associated with downstream processing.

Government Initiatives and Diplomatic Engagements
Finance Minister Situmbeko Musokotwane highlighted Zambia’s proactive approach during the Bloomberg Africa Business Media Innovators conference in Livingstone. He revealed that the government has been engaging with international automakers, even during recent visits to Germany, urging them to consider establishing EV component manufacturing plants within Zambia. “We have been talking, even last week when I was in Germany, telling these companies to please consider the manufacture of some of your electric vehicle components in Zambia,” Musokotwane stated. He added that these components could then be shipped to existing factories in South Africa, which currently exports EVs globally, thus creating a regional hub for EV component manufacturing—adding significant value to Zambia’s mineral wealth.

Progress in Attracting Foreign Investment
Zambia’s efforts are already bearing fruit. Last year, Build Your Dreams (BYD), the world’s largest electric vehicle manufacturer, expanded its footprint in Zambia through a partnership with Pilatus Electric Mobility Zambia Limited (PEM). This development signals growing investor confidence in Zambia’s potential as a strategic location in the EV supply chain. Such moves not only diversify Zambia’s economic base but also position the country as a vital node in the global transition toward electric mobility.

Fiscal Prudence and Regional Collaboration
While pursuing these strategic objectives, Zambia’s government remains committed to prudent fiscal policies, even as its current IMF program concludes in October. Minister Musokotwane emphasised that the cabinet has not yet decided on pursuing new international loans, signalling a cautious but forward-looking approach to economic management. He also acknowledged the decline in U.S. aid programs, noting that such support was always expected to diminish gradually, and underscoring Zambia’s focus on self-reliance and regional partnerships.

In addition to individual country efforts, Zambia’s broader strategy includes regional collaboration with the Democratic Republic of Congo (DRC). The two nations have signed an agreement to develop a regional value chain for battery and EV component production. Supported by the United Nations Economic Commission for Africa (UNECA), they are exploring blockchain-enabled traceability systems to ensure ethical sourcing of minerals—addressing a key concern for global automakers and aligning with international standards for responsible sourcing.

Zambia’s efforts to attract EV component manufacturers and develop regional mineral and battery supply chains exemplify a strategic pivot toward sustainable economic diversification. By leveraging its copper wealth, fostering international partnerships, and promoting regional collaboration, Zambia aims to emerge as a significant player in the global EV ecosystem. As the world accelerates its shift to electric mobility, Zambia’s proactive stance and strategic initiatives could serve as a model for other resource-rich countries seeking to add value and foster sustainable development.
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Torty news
Iran detains 19 individuals for purported connections to Israel and their online activities
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Torty news
China s Ambassador to the United Nations has accused Israel of crossing yet another red line with its strikes on Iran
China has issued a robust condemnation of Israel's recent military actions against Iran, cautioning that these actions signify a significant violation of Iran's sovereignty and a concerning escalation of regional instability.In a statement aired by China's state-run CCTV, Beijing's UN envoy Fu Cong expressed profound concern regarding Israel's alleged targeting of critical Iranian infrastructure, including nuclear facilities."Israel has once again crossed a red line," Fu asserted, accusing Tel Aviv of infringing upon Iran's sovereignty, jeopardizing its security, and neglecting its territorial integrity. He described the strikes as a "clear violation of international law" and cautioned that they could further undermine peace initiatives in the region.Fu underscored the reported assaults on nuclear sites as particularly perilous, indicating that such actions pose threats not only to Iran but also to global stability. "The targeting of nuclear facilities is profoundly alarming. This is yet another red line that must not be overlooked," he stressed.While China has consistently called for all parties to exercise restraint amid the ongoing tensions between Iran and Israel, Fu's statements represent one of the most vigorous denunciations from Beijing regarding Israeli military actions in recent history, highlighting China's increasing discomfort with the rising hostilities."China firmly opposes the escalation of this conflict and urges all parties to act responsibly," Fu added. "The world cannot bear the repercussions of ongoing aggression and retaliation."His remarks arise amidst growing international apprehension that the persistent cycle of attacks between Israel and Iran could escalate into a wider regional conflict, potentially involving major global powers and further destabilizing the Middle East.China, which maintains diplomatic relations with both countries, has positioned itself as a neutral entity advocating for de-escalation. In recent years, Beijing has enhanced its diplomatic involvement in the Middle East, including mediation efforts between conflicting states.
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African Economy
Two banks have met N500bn recapitalisation target
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love and romance
My marriage With Mrs Modupe Owa
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