Zambia: A Resource-Rich Copper Giant Awakens

Zambia:A Resource-Rich Copper Giant Awakens

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Guy Haselmann Thomas Smith Todd Howard Sara Strauch Jose Del Rosedal
MAY 21, 2024

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Boasting Africa’s second-largest reserves of copper1, Zambia has a unique opportunity to leverage its natural resource endowment and make real progress on the road to development. Despite some near-term challenges, we believe this landlocked nation in Southern Africa is on the rise, tackling debt, investing in its future, and capitalizing on its abundant resources. Prudent government decision making is providing relief from an El Nino induced drought, which should position Zambia toward greater economic resiliency and beneficial transformation. We believe Zambia offers attractive value for investors looking to actively participate in a well-managed developing country that is battling climate change and is also a key player in the supply chain for renewable energy and EVs.