BANKERS ASSOCIATION SAYS ZAMBIA ON TRACK TO HIT 1 MILLION METRIC TONS OF COPPER PRODUCTION TARGET THIS YEAR
By Michael Kaluba
Bankers Association of Zambia President Leonard Mwanza is confident that Zambia is on track to achieve government’s 2025 copper production target of one million metric tons, following a 30 percent increase in output recorded in the first quarter of the year.
Mr. Mwanza says the surge in production will significantly increase copper export volumes, and in turn boost mining sector tax contributions toward a positive impact on the broader economy, in the second half of the year.
He has also pointed to other economic indicators showing positive momentum, including a continued decline in mealie meal and fuel prices, alongside the effects of a bumper harvest that has helped ease inflationary pressures.
Mr. Mwanza tells Phoenix News that a stable macroeconomic outlook is essential for the banking sector to effectively support both productive activities and household needs through increased lending and financial services.
He has further reaffirmed the banking industry’s commitment to working with government and stakeholders to sustain economic growth and support key sectors driving national development.
PHOENIX NEWS