INVESTMENT WATCH: Zambia leaves South Africa choking in its dust at the 2022 Mining Indaba

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Investors are buying President Hakainde Hichelema’s narrative of ‘New Dawn’ change, but remain sceptical about South Africa’s vague promises to break bureaucratic logjams in its mining sector.

At the “Investing in African Mining Indaba” in 2018, the changing political winds in a trio of southern African countries — Angola, Zimbabwe and South Africa — lifted the mood of investors.

Fast-forward to May 2022, and it was Zambia that stole the show — a performance also driven by political change. Hakainde Hichilema won the presidency last year, defeating the autocratic Edgar Lungu, whose administration at one point had arrested the former on treason charges. “The government deserves a great deal of credit for the approach they have taken since this administration commenced last year,” said First Quantum’s representative, Godwin Beene. “They want to see a radical improvement in the size and scale of the industry over the next decade, confident in the belief that when mining does well so does Zambia. These things do take time to come to fruition, but it does feel like we are entering into a new and better future for the industry.

Cape Town is a great place to throw a party, but investors are not going to let the dop blur their vision regarding the mining sector. It noted acute capacity shortages in the Department of Mineral Resources and Energy and “long delays in producing a cadastral system and processing applications result from both capacity and corruption issues”.

 

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Possibly because South Africa has FUCKED UP every opportunity to provide a stable growth related plan to assure investors? DILLIGAFF?

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