Latest news with #Zambia
News24
6 hours ago
- Business
- News24
US envoy plays down AGOA, African visa concerns
The top US diplomat for Africa on Tuesday dismissed allegations of unfair US trade practices and said that funding delays would not derail a key railway project connecting Angola, Zambia and the Democratic Republic of Congo. African Union officials on Monday questioned how Africa could deepen trade ties with the United States under what they called "abusive" tariff proposals and tightening visa conditions, largely targeting travellers from Africa. "There is no visitation ban," Ambassador Troy Fitrell said during a press conference at the US-Africa Business Summit in Luanda. He said that US consulates continue issuing visas regularly, although some now come with shorter validity periods due to concerns over overstays. Several African business and political leaders have raised concerns about a sharp drop in visa approvals, particularly for travellers from West Africa, since late 2023. Washington's tariff plans have also added to cooling diplomatic ties with African countries, as some economies — including Lesotho and Madagascar — warned that even a baseline 10% levy could threaten critical exports such as apparel and minerals. But Fitrell said that the proposed US import tariffs were not yet implemented, and negotiations were ongoing to create a more reciprocal trading environment, including through the renewal of the African Growth and Opportunity Act (AGOA). The initiative grants qualifying African nations duty-free access to the US market and is due to expire in September. Fitrell also reaffirmed his country's commitment to the Lobito Corridor railway project, which links Angola's coast to copper-rich Zambia and the Democratic Republic of Congo. "It's not at risk," he said of the initiative. The US International Development Finance Corporation's Head of Investments, Conor Coleman, described it as a "win-win" for US investors and African economies, and underscoring its significance for regional integration. The Trump administration has axed swaths of US foreign aid for Africa, as part of a plan to curb spending it considers wasteful. Angolan President João Lourenço, addressing more than 2 000 government and business leaders at the summit, said US companies should shift from aid to investment-driven partnerships. "It is time to replace the logic of aid with the logic of investment and trade," Lourenço said, urging diversification into sectors such as automotive manufacturing, shipbuilding, tourism, cement, and steel production.
Zawya
a day ago
- Politics
- Zawya
United Arab Emirates (UAE) Strongly Condemns Attack on United Nations (UN) Mission in Central African Republic
The United Arab Emirates has strongly condemned the attack targeting the United Nations Multidimensional Integrated Stabilization Mission in the Central African Republic (MINUSCA), near the town of Birao, which resulted in the death of a Zambian peacekeeper and the injury of another. In a statement, the Ministry of Foreign Affairs (MoFA) underscored the UAE's strong condemnation of these criminal and terrorist acts, and its permanent rejection of all forms of violence, extremism and terrorism aimed at undermining security and stability. The Ministry reaffirmed that targeting UN and humanitarian missions constitutes a blatant violation of the principles of international law and UN Security Council Resolution 1701, stressing the UAE's full support for the vital role of MINUSCA in promoting security and stability in the Central African Republic. The Ministry expressed its sincere condolences and sympathy to the family of the victim, and to the government and people of Zambia, as well as its wishes for a speedy recovery for the injured peacekeeper. The Ministry further expressed its solidarity with the United Nations and its humanitarian missions, and the countries contributing to international efforts aimed at achieving peace and stability in the region and worldwide. Distributed by APO Group on behalf of United Arab Emirates, Ministry of Foreign Affairs.
Bloomberg
a day ago
- Politics
- Bloomberg
Zambia Takes Steps to Avoid Landing on US Travel Ban List
Zambia says it has made progress in addressing several concerns raised by the US government, as it seeks to avoid being placed on an expanded travel ban list. The southern African nation 'has formally responded to the US Embassy' and instructed its mission in Washington to engage the US government, Foreign Affairs Minister Mulambo Haimbe told lawmakers on Friday. 'Our goal is to have Zambia removed from consideration within the 60-day review period.'
Bloomberg
a day ago
- Business
- Bloomberg
Zambian Economy Expected to Grow 6% in 2025
Zambia's economy is expected to expand at least 6% this year, driven by improving rainfall, increased copper production, and a debt restructuring with low interest rates. Bloomberg News Editor-In-Chief Emeritus Matthew Winkler spoke to Lizzy Burden on Horizons Middle East and Africa about how the nation's economic recovery is the unlikely surprise of 2025. (Source: Bloomberg)
Bloomberg
2 days ago
- Business
- Bloomberg
Zambia to Borrow Extra $624 Million From Domestic Market in 2025
Zambia will borrow an additional 14.8 billion kwacha ($624 million) from the domestic market to cover a bigger-than-expected shortfall in this year's budget, Finance Minister Situmbeko Musokotwane said. The copper-rich southern African nation will also raise 4.9 billion kwacha in additional taxes, most of which will come from unspecified new revenue measures, he told lawmakers on Thursday.
