Zambia – which is experiencing its toughest economic conditions in a decade, according to the World Bank – should consider charging higher electricity tariffs for its mines to attract investment in power generation.
“Zambia also needs to strengthen its fiscal position to restore confidence in its economy which is expected to grow less than 4% a year before expanding to 5-6% in 2017,” World Bank senior economist Gregory Smith said in a statement.
According to Reuters news agency, mining firms in Africa’s second highest copper-producing country consume 55% of power in Zambia.
