ZAMBIA: Curiosities

africanlanders

December 11, 2021

– Do you know that the Zambian flag has a special meaning?

Zambians are very proud of their flag because it symbolizes different characteristic features of the country. The flag has four colors (green, black, orange and red) and an eagle.

The green color symbolizes the great fauna that you can find in the country. The color black represents the color of the skin. The color orange represents copper, one of the most numerous and important minerals found in the country. The color red represents the blood of the country’s heroes when they fought for their independence. And the eagle symbolizes the freedom of the country and the ability to rise again despite the problems that may exist.

Zambia flag.

Zambia is one of the countries with most borders in the world

Zambia is a country with no access to the sea and is located in the center of the country bordering a total of 8 countries, making it one of the countries with most borders in the world. These countries are Angola, Botswana and Namibia to the west; Tanzania and Malawi to the east; Zimbabwe and Mozambique to the south; and DRC Congo in the north.

Do you know which country in the world has the most borders? First, China bordering 16 borders; second, Russia bordering 14 borders; and in third place Brazil, with 10 borders. Then we find Germany with 9 borders and Zambia with 8 borders.

Zambia map with the 8 borders.

Zambia is one of the world’s leading producers of copper

Mining accounts for almost 80% of its total exports and 12% of its GDP, with unrefined copper and refined copper. For this reason, the orange flag representing this mineral appears on its flag. According to official data, by 2020 they produced 882,061 tons of copper. Currently, this amount is expected to increase due to the high demand for electric cars and that they are produced with this mineral.

The main copper mines are located in the northern part of Copperbelt Province, where four of them produce 80% of all annual copper. These are Barrick Lumwana (owned by a Canadian company), FQM Kansanshi (most of the shares are also owned by a Canadian company), Mopani (where the largest shareholder is Glencore, a Swiss company) and Konkola Copper Mines (where the largest shareholder is Vedanta Resource, an Indian company).

Copperbelt, where are located the most important copper mines of Zambia.

– In Zambia only new dollars are accepted, that is, the notes which are green

One of the most important anecdotes to keep in mind is that in Zambia you will only be able to use new dollars that have been issued since 2006; that is, the green notes as shown in the photo.

We did not carry them and at the border we were not accepted the old dollars and therefore we could not pay the Visa. Luckily, we were able to exchange an old ticket for a new one to a person on the street and be able to get a Visa. So if you travel to Zambia it is very important that you bring new dollars!

100$ note of the new ones that are the only ones valid in Zambia.

Zambia, a country on the verge of bankruptcy

The coronavirus pandemic that began in 2019 has caused severe economic crises in several African countries, especially in Zambia. This country is heavily dependent on copper exports, and due to the global production shutdown during the pandemic, Zambia suffered a sharp drop in primary materies.

In November 2020, the country was unable to pay 33.7 million euros in interest on its debt. At the end of January 2021, it was also unable to pay 46.2 million euros of a bond loan. In addition, Zambia has an external debt of 10 billion euros, half of which are private creditors.

Many of these creditors come from China, with which Zambia has a large debt. For this reason, the country has asked the International Monetary Fund (IMF) for help in claiming loans at almost zero interest rates and implementing reforms that will allow him to pay off all his debts. However, FMI isquite concerned about the conditions that Zambia signed with the Chinese creditors, and which have not come to light.

Kwacha, the currency of Zambia.

Categories: ZAMBIA
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