Zambia and the United Arab Emirates (UAE) have signed a Memorandum of Understanding (MoU) and Joint Development Agreement (JDA) to facilitate massive investment in renewable energy in Zambia.

Barring any black swan events and other market shocks, the rand has the potential to strengthen further in 2023, and could see a period of relative stability, says Investec.

A decision to set up the East African Monetary Institute --the Central Bank of East Africa—will be made this year, a key establishment required in implementing a single currency regime.

South Africa faces a 45% chance of slipping into recession this year as South Africa’s electricity crisis deepens, according to a survey of economists by Bloomberg this month. 

Zambia plans to import fuel from its oil-producing neighbour Angola in the government’s push to lower pump prices and stem supply shocks.

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