India entices Zambia with low export rates Free
India's way of positioning itself as Zambia's alternative partner to China is not through big spending but cheaper production opportunities, although these do come with a few caveats.
The election is just months away and Zambia's $12bn debt, its relations with China and its violent clashes with its historic copper partners weigh heavily on Edgar Lungu's tenure. To preen his image, his teams are busy working on the country's gold resources to generate revenue and jobs.
Zambian state mining company ZCCM-IH is actively looking to expand beyond copper production. However, after several years of investing in new business sectors, the company is coming back to focus on the mining industry and is looking to extend its business to other minerals.
The decision of state-owned Zambian mining company ZCCM-IH to go into alliance with little-known Array Metals on the Mumbwa gold project might seem initially surprising but Array's vice president, Ugandan businessman Chris Rugari, has access to the corridors of power in Zambia and in his native Uganda.
The Covid-19 pandemic has had a profound effect on the sovereign advisory market but consultancy heavyweights Jacques Attali and Dominique Strauss Kahn have been quick to adjust, vying for contracts to help states overwhelmed by the crisis.