ABSA Group Senior Economist Macro-Research Ridle Markus says the current load shedding will have a negative impact on the country’s copper production.
ZESCO requested the mines to reduce their electricity demand by 25% following its announcement of the commencement of loadshedding in the country.
Speaking during the 2024 ABSA Economic outlook in Lusaka today, Mr. Markus said that the economical use of electricity among players in the mining sector will see a drop in their outputs.
“Loadshedding has come at a critical time when copper prices are doing favorable on the international market”, said Mr. Markus.
Meanwhile, Mr. Markus has expressed concern with the drought that has affected the country, saying that it will have a negative impact on inflation long term.
He said that government should therefore quickly start rolling out mitigation measures to farmers and communities affected by the dry spells.
By Angel Kasabo.
