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Zambia Update 2022: COVID-19, Russia, Climate Change, and Debt Restructuring

Our Director of Global Capital and Strategy at FCA Corp, Tom Koch, recently spoke with the Zambian Minister of Finance and Planning. Here is his synopsis and link to the discussion:

I recently had the opportunity to speak with the Hon. Dr. Situmbeko Musokotwane, the Zambian Minister of Finance and Planning during an event hosted by the Atlantic Council’s Africa Center. In Oct 2020, Zambia defaulted on debt, and the Minister traveled to Washington, DC for the International Monetary Fund’s Spring Meetings to discuss a way forward.

As a part of the Africa Center’s series of discussions regarding these Spring Meetings, Ambassador Rama YADE, Senior Director of the Africa Center, led a wonderful and insightful discussion on:

– How the Russia – Ukraine War is impacting Zambia;
– How Zambia is dealing with the impacts of COVID-19;
– How the country is approaching energy independence and fairness, especially out of the UN Climate Conference.

I asked further questions about Zambia’s debt restructuring plan, and how the government was planning to make the economy more conducive to international investment. FCA Corp is the advisor to an Africa-focused private equity fund, Africap LLC. One of the fund’s portfolio companies is a Zambian food processing company that faces significant challenges to growth due to burdensome regulatory and legal requirements.

The Minister’s positive outlook and enthusiasm gave hope that the country can overcome its current challenges and regain its growth trajectory. As Zambia proceeds down that path, the world watches and waits.

The link to the full recording can be found here.

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