Copper-rich Zambia, once a byword for sovereign debt distress, heads to the polls Thursday in an election that will test whether President Hakainde Hichilema has convinced voters his economic reforms are paying off.
Zambia is Africa’s second largest copper producer, behind the Democratic Republic of Congo, and the world’s eighth largest, according to the US Geological Survey.
The country is positioning itself as a critical supplier for the global energy transition, with demand surging for copper used in electric vehicles, power grids and renewable energy infrastructure.
The drive has attracted high profile investors, including OpenAI CEO Sam Altman and Microsoft co-founder Bill Gates who are backing KoBold Metals, which broke ground in May on a US$`2 billion project expected to become one of Zambia’s largest copper mines.