Categories: Business

Price of copper signals recovery: Govt urged to take advantage

The Public Policy Institute of Zambia (PPIZ) has encouraged the government to take advantage of the pickup in copper prices on the international market to raise revenue.

According to Reuters the price of copper on the London Metal Exchange (LME) traded at US$6,118 a tonne on Friday.

In an interview with Money FM News, Institute President Fabian Chewe says the prices of copper on the international market are signaling increase and hence the need to take advantage of this trend.

Mr. Chewe has also observed the need for Zambia to have a strong inspectorate system in order to seal the loopholes that lead to linkages in production figures.

He further recommends that the government should focus on agriculture industrialization as this is one of the potential sectors to grow the country’s economy.

“Africa imports about US$30 billion of agriculture products which we can take advantage of as country to supply these products within the region and earn something from that,” he suggests.

Mr. Chewe adds that if well enhanced, the sector has potential to boost Zambia’s economy and reduce the over dependency on copper.

More From Author

ACCA

https://www.accaglobal.com/africa/en.html

Read More

Economist @ Money 02 May 2020

Join the host and guest as they look at various economic issues.

Read More

Women @ Money – “Strategic Planning”

Listen to the host Nkhonde Fumbeshi as she discusses “Strategic Planning” with Dr Freda Mwamba…

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

IZB profit up 18.74% to K604.33 million

IZB has posted a K604.33 million Net Profit after tax for the year ended 31st…

Read More

Indo Zambia Bank declares K50 million dividend cheque

This is part of the K125 million dividend, the highest ever for 2023 financial year.…

Read More

Economist expects currency to hit K15 between April, December, 2024

  The Kwacha has been experiencing an unusual decline since introduction of the Export Proceeds…

Read More