• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Kwacha extends slump as drought worsens Zambia’s economic woes

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
83
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Chamber of Mines Pushes for Longer Stability Agreements to Safeguard Ghana’s Mining Competitiveness

Why Shorter Mining Leases Could Cost Ghana Big Projects and Jobs

Gold Price Hits Record High as Investors Seek Safety

Kwacha extends slump as drought worsens Zambia’s economic woes

Zambia’s currency weakened against the dollar for an 18th successive day, cementing its position as the worst performer in emerging markets since March, as a severe drought added to constraints in copper production.

The kwacha on Friday extended its losses since April 8 to 8.4% and traded close to record lows of around 27 per dollar. That’s the worst decline among 32 most widely traded EM currencies and followed previous slumps in February and March.

“The fundamentals are kwacha negative,” said Gergely Urmossy, an EM strategist at Societe Generale SA. “Zambia’s macro outlook is not very positive as copper production has been weak for a very long time. And the most recent droughts are a challenge for power generation, which is an additional constraint.”

The country has been hit hard by El Niño-induced drought which has impacted agricultural production and forced it to import more food. The lack of water in the southern African nation, which relies on hydropower for much of its electricity generation, has also affected mining output.

In addition, “the Bank of Zambia’s reserves have not been increasing, which is also a concern and weighs on investor sentiment towards Zambia” Urmossy said.

Source: bloomberg
Via: norvanreports
Tags: droughtKwachaKwacha extends slump as drought worsens Zambia’s economic woesZambia’s economic woes
No Result
View All Result

Highlights

Nigeria: Forex Traders Say Chinese Traders Now Collecting Naira Instead of Dollars

Chinese Firm Faces $420 Million Zambia Mine Spill Damages Claims

60% of Africans Don’t Believe Democracy is Working in Their Interests – How Parliaments Can Fix The Problem

Banking Sector the Most Robust and Advanced Sector in Fight Against Money Laundering – Report

West Africa: Ghana Flagged as Target for Illicit Financial Flows in Latest National Risk Assessment

Central Bank Raises GH¢2.34bn in Short-Term Bill Sale at Nearly 25% Yield

Trending

Business

Chamber of Mines Pushes for Longer Stability Agreements to Safeguard Ghana’s Mining Competitiveness

September 3, 2025

Chamber of Mines Pushes for Longer Stability Agreements to Safeguard Ghana’s Mining Competitiveness The Ghana Chamber of...

Why Shorter Mining Leases Could Cost Ghana Big Projects and Jobs

September 2, 2025

Gold Price Hits Record High as Investors Seek Safety

September 2, 2025

Nigeria: Forex Traders Say Chinese Traders Now Collecting Naira Instead of Dollars

September 2, 2025

Chinese Firm Faces $420 Million Zambia Mine Spill Damages Claims

September 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.