After a two-year hiatus following the onset of the COVID-19 global pandemic, the annual mining indaba returns to Cape Town South Africa. According to the organizer’s website, this year’s ‘Mining Investment Cape Town’ is now an official part of the 2022 Investing in African Mining Indaba. Both events are teaming up to deliver an unrivalled offering for the entire African mining ecosystem and drive the sustainable development of African mining companies.
The headliner speakers of this year’s grand event include Zambia’s President Hakainde Hichilema, Dr. Mokgweetsi Masisi of Botswana and the host country’s very own Cyril Ramaphosa. In addition, Congo DRC’s Prime Minister Jean-Michel Sama Lukonde will also be showing face at the mining industry’s most anticipated event for 2022.
Zambia’s Presidents headliner speech is aptly titled “A new Dawn for Zambia’s Mining Sector” following his ascension in August 2021 to head of state. According to the IMF and World Bank, Zambia’s economy is forecast to grow to just over US$ 26 billion. With the mining sector playing a vital role to the country’s economy, investors and key stakeholders will be keen to hear the head of state make profound statements that will provide clarity on how his fiscal regime intends to shape the destiny of the sector over the next decade.
Botswana’s President comes to the event, like his neighboring counterpart, with the agenda of wooing investors. However, according to African Intelligence, Botswana which has historically been used to being a top mining performer, has plummeted in the Fraser Institute’s annual ranking of countries attracting mining investment. One reason for this is investors’ fear of an uncertain period to come after the 2024 general election. The President’s speech will be expected to recast confidence into the country’s mining sector for continued investment.
South Africa’s President, who spoke virtually at the 2021’s Investing In Mining Indaba, will no doubt be pleased to see his peers in person at this years event. According to African Business, the President’s attendance, along with Minister of Mineral Resources and Energy Gwede Mantashe, signals the continued importance of mining to the South African economy as a cornerstone creator of value through investment, procurement, job creation and community investment, and its contribution to the fiscus. During the pandemic, the industry more than proved its mettle, making a substantial contribution to taxes during a time when South Africa most needed it.