World Bank suggests Zambia to enhance its copper production to maximize its revenue base

Zambia needs to strengthen its production of copper if it is to maximize its revenue base, according to the World Bank.

Gerard Kambou, the senior economist, World Bank says that the South African country has an advantage of existing mineral resources that can assist to accelerate the country's economic growth. Kambou was recently speaking via a video-conference when the World Bank released its April 2019 bi-annual analysis of the state of African economies.

The country's annual copper production has averaged 850,000 metric tonnes, with a projection of reaching 1,000,000 metric tonnes by 2020. Even the World Bank chief economist for Africa, Albert Zeufack says economic growth in sub-Saharan Africa has been downgraded to 2.3 percent for 2018, down from 2.5 percent in 2017.

According to Albert Zeufack, the economic growth for the region remains below population growth for the fourth consecutive year. He further said that the slower than expected overall economic growth rate reflects ongoing global uncertainty, as reported by Lusaka Times.

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